Bloomberg Billionaires Index

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# Ronald Lauder

Random fact: Parents changed surname from Lauter, believing it sounded more chic.

Overview

Lauder owns 3.6 percent of Estee Lauder, the world's second-largest cosmetics maker. The New York-based company sells beauty products under the Clinique, Bobbi Brown, M.A.C. and Aveda brands, and had revenue of $11.2 billion in 2016. He also has a collection of medieval, modern and contemporary art valued at $1 billion.

As of Jan. 21, 2018:
Last change ()
YTD change ()
Industry Cosmetics/Personal Care
Biggest asset N/A
Citizenship United States
Age 71
Wealth Inherited
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Relative Value

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Latest News

Net Worth Summary

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Biography

Birthdate: 2/26/1944
Family: Married, 2 children
Education: Wharton School of The University of Pennsylvania, Bachelor's Degree

Ronald S. Lauder is the youngest son of Estee and Joseph Lauder. He was born in New York City on Feb. 26, 1944, 11 years after his older brother Leonard, and two years before his parents started what has become Estee Lauder, the world's second-largest cosmetics maker. He studied at the University of Pennsylvania's Wharton School and joined the family business in 1964, becoming general manager of the company's Clinique Laboratories in 1985, and chairman 10 years later.

Lauder took a leave of absence to serve as deputy assistant secretary for defence for European and NATO affairs in the Pentagon, from 1983 until 1986. He was appointed U.S. ambassador to Austria by President Ronald Reagan the same year, staying in the role until 1987. After returning to the U.S. he created the Ronald S. Lauder Foundation to help restore Jewish communities in Central and Eastern Europe. He has been president of the World Jewish Congress since June 2007.

The billionaire has amassed a collection of over 4,000 works of art, he also started the Neue Gallery for German and Austrian Art in 2001, and is the honorary chairman of New York's Museum of Modern Art, where he and his wife Jo Carole have a wing named after them. He hasn't had an executive role in the family business since 1983, and has served as chairman of Clinique since 1995.

He lives in New York City with his wife and two daughters, Aerin and Jane, who are both billionaires and involved in the family business.

Milestones
  • 1946 Parents start producing cosmetics.
  • 1964 Graduates from the Wharton School at the University of Pennsylvania.
  • 1964 Joins the family company.
  • 1986 Appointed U.S. ambassador to Austria.
  • 1989 Runs for mayor of New York City.
  • 1995 Estee Lauder sells shares in an initial public offering.
  • 1995 Becomes chairman of Clinique Laboratories.
  • 2004 Mother Estee Lauder dies at age 97.
  • 2007 Becomes president of the World Jewish Congress.