Leonard Lauder Passes Away at 92
Leonard Lauder, the billionaire heir who significantly contributed to making the Estee Lauder brand a global force, has died at 92.
The Estee Lauder Companies announced the passing of its former CEO and honorary chairman, who was notably involved in New York City’s arts scene.
His son, William, who serves as the executive chairman of Estee Lauder, remarked in a press release, “Throughout his life, my father worked tirelessly to build and transform the beauty industry, pioneering innovations and practices that shape it today.”
“He was the most charitable person I’ve ever known. He believed art and education should be accessible to all, and he advocated for causes like Alzheimer’s and breast cancer awareness,” William added.
Beyond business, William noted, “More than anything, my father exemplified kindness to everyone he encountered.”
Leonard, born to Estee and Joseph Lauder, grew up on Manhattan’s Upper West Side. He dedicated 60 years to the family business, launching prominent brands such as Clinique, Lab Series, and Aramis.
After his service in the Navy, he graduated from Bronx High School and the Wharton School at the University of Pennsylvania. When he joined the family brand in 1958, it was still relatively small, with only a few products sold in American stores.
Now, Estee Lauder is valued at $15.6 billion, making it the third-largest cosmetics company globally, trailing only France’s L’Oreal and the Anglo-Dutch Unilever.
Leonard was reportedly worth about $9.7 billion at his passing, according to Forbes.
In 1995, he aimed to position the company as “a premier supplier of luxury cosmetics worldwide.” While his financial success was notable, Leonard often stated that creating a lasting, impactful company was his true aspiration. “Money doesn’t drive me,” he stated in an interview. “What drives me is seeing this fantastic company thrive.”
Leonard stepped down from the company’s board in August 2023, shortly before his passing.
He was a source of inspiration to many in the fashion industry, including iconic designer Ralph Lauren. “Leonard and I have shared a long relationship,” Lauren noted back in 2018. “He was always supportive and filled with energy and sincerity. His passion was evident, and his family was his priority.”
Leonard was also deeply engaged in the art world. In 2013, he donated a significant collection of Cubist works to the Metropolitan Museum of Art, featuring pieces by famous artists such as Picasso and Braque. He expressed a desire to enhance the museum, fueled by his passion for art and New York.
Moreover, he played a key role in the Whitney Museum of Contemporary American Art. Joining its acquisition committee in 1971, he went on to become chairman, contributing $131 million—the largest donation at that time.
Leonard was married to Evelyn Lauder from 1959 until her death in 2011, and later wed photographer Judy Glickman in 2015. He is survived by his second wife and two sons, William and Gary, who manages Loader Partners LLC.
“His impact was immense,” William reflected. “He truly believed our employees were the heart of the company, and he always made time for them. His kindness has left a lasting impression on our industry and family, and we celebrate his remarkable life.”
