Estée Lauder’s son who took the Global brand died at the age of 92

Leonard Laoder, the businessman who embedded Estée Lauder in one of the largest cosmetic manufacturers in the world, died at the age of 92.

Laoder joined his parents’ company in 1958 and was CEO for 17 years. He was a deal and bought brands, including Clinique, Bobbi Brown and Mac.

“He was an icon and a pioneer, gaining respect worldwide. His energy and vision helped to shape our company and will continue to do so for next generations,” said Stefan de la Faveri, CEO of Estée Lauder.

The New York -born billionaire had approximately a wealth of $ 10.1 billion (£ 7.5 billion), according to the Forbes rich list in 2025.

Laoder died on Saturday surrounded by his family, said Estée Lauder in a statementS

Born in 1933, he is the biggest son of Estaee and Joseph Laoder. He served as a lieutenant at the US Navy before joining the family business.

At that time, the company’s annual sales were less than $ 1 million – about $ 11 million in today’s money. He is now a global giant for cosmetics operating in 150 countries with sales of $ 15.6 billion last year.

Lauder runs the company Expansion in Europe and Asia and created his first laboratory for research and development.

He took the audience of the company in 1995, with the price of his shares growing by 33% on the first day of trading in New York.

Laoder withdrew as CEO in 1999. He remained engaged in the business and chaired Emerit until his death.

Celebrities and businessmen pay tribute to Lauder.

Elizabeth Hurley, who received her first modeling job with her company, said on Instagram: “I called him my American dad and I can’t imagine a world without it.”

Steve Forbes, editor -in -chief at Forbes Media, said Laoder “lived well, and his passage was the loss of the world.”

“His inheritance will be felt for the next generations,” said the multimiliard and former New York Mayor Mike Bloomberg.

Far from business, Laoder was passionate about art. In 2013, he promised his collection of Cubist works by the Cubists at the New York Museum of Arts in Sofia.

He was also a defender of cancer research and served as an honorary chairman of the Board of Directors at the Breast Cancer Foundation.