News Summary
Leonard A. Lauder, co-founder of Estée Lauder Companies and prominent philanthropist, passed away at 92 in New York City. His contributions transformed the beauty industry and his philanthropic efforts exceeded $2 billion, leaving a lasting legacy in both business and art.
New York City – Leonard A. Lauder, the esteemed co-founder of Estée Lauder Companies and a prominent philanthropist, passed away on Saturday at his home on the Upper East Side of Manhattan. He was 92 years old. His passing has been confirmed by the Estée Lauder Companies, marking the end of an extraordinary life dedicated to the beauty industry and charitable endeavors.
Lauder played a pivotal role in transforming the family business, which he started alongside his mother, Estée Lauder. His tenure with the company spanned several decades, where he held multiple key positions, including president from 1972 to 1995, CEO from 1982 to 1999, and chairman from 1995 until 2009. Under his leadership, annual sales skyrocketed from a modest $800,000 in 1958 to over $16 billion by 2021, solidifying Estée Lauder Companies as a global leader in the cosmetics industry.
Aside from his remarkable business achievements, Lauder was renowned for his philanthropy, donating more than $2 billion to various causes throughout his life. His contributions spanned a multitude of sectors, including education, medical research, and the arts. Of particular note was his significant impact on the art world, where he was celebrated as a major art collector and patron. In 2013, he made headlines with a historic donation to the Metropolitan Museum of Art consisting of nearly 80 Cubist works valued at approximately $1 billion, featuring masterpieces by artists such as Pablo Picasso and Georges Braque.
Lauder’s relationship with the Metropolitan Museum continued beyond this landmark gift, as he remained a supporter and added further noteworthy artworks to enhance the museum’s collection. His involvement in the art community extended to the Whitney Museum of American Art, where he served as chairman and chairman emeritus, holding a trustee position from 1977 to 2011. In 2008, he made a substantial contribution of $131 million to the Whitney to support its endowment.
Recent Philanthropic Efforts
In 2023, Lauder, along with his brother Ronald, pledged a remarkable $200 million to the Alzheimer’s Drug Discovery Foundation (ADDF) to fund research aimed at treating and preventing Alzheimer’s disease. This commitment highlights Lauder’s ongoing dedication to health and medical research, enhancing his legacy as a humanitarian.
A Legacy in Business and Art
Born in New York City in 1933 to Joseph Lauter and Josephine Esther Mentzer, who co-founded the Estée Lauder Companies in 1946, Lauder was deeply embedded in the family business from an early age. He graduated from the University of Pennsylvania and served in the U.S. Navy prior to officially joining the family business in 1958. His commitment to excellence and innovation earned him a spot on the ARTnews Top 200 Collectors list for 25 consecutive years from 1990 to 2024.
Lauder’s influence stretched beyond business. He authored a memoir titled The Company I Keep: My Life In Beauty, published in 2020, where he illustrated the crucial role of women in business. His peers respected him for his visionary leadership and innovative thinking, which resonated in both the beauty and art industries.
Personal Life
Leonard A. Lauder is survived by his wife, Judy Glickman Lauder, and his two sons, William and Gary Lauder. Tributes from various organizations and individuals reflect upon his profound impact, noting his kindness, visionary outlook, and unwavering support for numerous humanitarian causes.
The world has lost a monumental figure whose contributions will be remembered for generations to come.
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Additional Resources
- Estée Lauder Companies Press Release
- The New York Times
- eJewish Philanthropy
- Vogue
- Encyclopedia Britannica: Leonard A. Lauder
