Leonard Lauder, Estée Lauder's Visionary Leader, Passes Away at 92

Leonard Lauder, who transformed Estée Lauder into a cosmetics powerhouse, has passed away, leaving behind a remarkable legacy in both business and philanthropy.

Leonard Lauder, the pivotal businessman behind the global success of Estée Lauder, died at the age of 92, according to a statement from the company. Joining the family business in 1958, he served as chief executive for 17 years, and during his tenure, he was instrumental in acquiring several notable brands including Clinique, Bobbi Brown, and MAC, solidifying Estée Lauder's status as a leader in the cosmetic industry.

Described as an "icon and pioneer" by current CEO Stephane de La Faverie, Lauder's vision and vitality played a critical role in the company's expansion. His efforts propelled the brand from annual sales of less than $1 million in the 1950s to a staggering $15.6 billion globally in 2022, with operations spanning 150 countries. Lauder notably led the company's entry into European and Asian markets and established its first research and development facility.

Born in New York in 1933 to Estée and Joseph Lauder, he served in the US Navy before joining the family enterprise. He took Estée Lauder public in 1995, with an impressive 33% surge in share price on the first day of trading in New York. Following his retirement as chief executive in 1999, Lauder remained connected to the business in the role of chairman emeritus until his recent passing.

Tributes have poured in from various celebrities and the business community, celebrating Lauder's impact. Actress Elizabeth Hurley remembered him fondly on Instagram as her "American Daddy," while Steve Forbes remarked that Lauder's death represents a significant loss. Former New York mayor and billionaire Mike Bloomberg emphasized that Lauder's influential legacy will persist for future generations.

Beyond his corporate achievements, Lauder was known for his passion for art, pledging his billion-dollar collection of Cubist pieces to New York's Metropolitan Museum of Art in 2013. He was also an ardent supporter of cancer research, serving as honorary chairman for the Breast Cancer Research Foundation. Leonard Lauder leaves behind a legacy that intertwines business success with a commitment to philanthropy and cultural enrichment.