Bloomberg Billionaires Index

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#110 Leonard Lauder $12.1B

Random fact: Late wife co-created Pink Ribbon, breast cancer awareness symbol.

Overview

Lauder is the chairman emeritus and biggest shareholder of Estee Lauder, the world's fourth-largest maker of cosmetics and fragrances. The New York-based company owns the Clinique, M.A.C. and Aveda brands, and had revenue of $11.3 billion in the year to June 30, 2016. Lauder donated his collection of Cubist art to the Metropolitan Museum of Art in 2014.

As of July 27, 2017:
Last change +$15.4M (+0.1%)
YTD change +$2.14B (+21.5%)
Industry Consumer
Biggest asset EL US Equity
Citizenship United States
Age 84
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Leonard Lauder's net worth of $12.1B can buy ...

0
troy ounces of gold
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barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Lauder's wealth derives from his stake in Estee Lauder, the world's fourth-largest maker of cosmetics and fragrances, according to Beauty Packaging magazine's 2016 list of the largest beauty products companies. He owns 90.4 million Class A and Class B shares directly and through the New York-based LAL Family Corporation, according to the company's 2016 proxy statement. The Class B shares don't trade. They're convertible to A shares and are treated as such in the net worth analysis.

Lauder has collected about $3.9 billion in stock sales and dividends since Estee Lauder's public offering in 1995. The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

The billionaire donated his entire collection of Cubist artworks, including 33 pieces by Picasso, to the Metropolitan Museum of Art in 2014. The collection isn't included in the net worth analysis.

Maggie Schoonmaker, an Estee Lauder spokeswoman, declined to comment on the net worth calculation.

Biography

Birthdate: 3/19/1933
Family: Married, 2 children
Education: 1954, University of Pennsylvania, Business, Bachelor's Degree

Leonard Lauder is the oldest son of Estee and Joseph Lauder. He was born in New York in 1933. After receiving his bachelor's degree from the University of Pennsylvania's Wharton School, he studied at Columbia University's Graduate School of Business and served as a lieutenant in the U.S. Navy. He joined his family's cosmetics company in 1958, when it had annual sales of $800,000. Today, the company has revenue of $11 billion.

He became president of Estee Lauder in 1972, rising to chief executive officer 10 years later. During his tenure, he initiated the company's international expansion, which began in 1960 with the opening of an Estee Lauder counter at Harrods department store in London.

He is chairman emeritus at Estee Lauder and at the Whitney Museum of American Art. Lauder was married for more than 52 years to his wife, Evelyn, who died in November 2011. He was remarried in 2015 to his longtime friend, Judith Glickman. He has two children, William and Gary, and five grandchildren.

Milestones
  • 1933 Born in New York to Estee and Joseph Lauder.
  • 1958 Joins family business after serving as a lieutenant in the U.S. Navy.
  • 1959 Marries Evelyn Hausner with whom he has two sons, William and Gary.
  • 1960 Opens Estee Lauder counter in London's Harrods department store.
  • 1982 Appointed CEO of Estee Lauder.
  • 1994 Becomes chairman of the Whitney Museum of American Art.
  • 1995 Estee Lauder sells shares in an initial public offering.
  • 2011 Wife Evelyn Lauder dies at age 75 of ovarian cancer.
  • 2013 Donates $1 billion Cubist art collection to Metropolitan Museum of Art.