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What is Leonard Lauder’s Net Worth?
Leonard Lauder, the American business magnate, philanthropist, and art collector, has an estimated net worth of $15 billion. Lauder’s wealth primarily stems from his involvement with the Estée Lauder Companies, the cosmetics empire founded by his parents in 1946. As the heir to this fortune, along with his brother Ronald, Leonard has played a crucial role in the company’s growth and success.
He served as the CEO of Estée Lauder Companies in the 1990s, overseeing its public offering on the New York Stock Exchange in 1995 and spearheading the acquisition of several major cosmetics brands.
Over the years, Leonard Lauder has engaged in significant philanthropic endeavors and pursue his passion for art collecting. His extensive Cubist art collection was valued at over $1 billion, which he promised to the Metropolitan Museum of Art in 2013.
Here’s the breakdown of Leonard Lauder’s net worth:
Name: | Leonard Lauder |
Net Worth: | $15 Billion |
Date of Birth: | March 19, 1933 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Leonard Alan Lauder was born on March 19, 1933, in New York City, into a Jewish family. He is the elder son of Estée and Joseph Lauder, the founders of the Estée Lauder Companies. Growing up in a family deeply involved in the cosmetics industry, Lauder was exposed to the business world from a young age.
He attended the prestigious Bronx High School of Science, which laid a strong foundation for his academic pursuits. Lauder went on to graduate from the Wharton School of the University of Pennsylvania, one of the top business schools in the United States.
He furthered his education at Columbia University’s Graduate School of Business before serving as a lieutenant in the U.S. Navy.
Estée Lauder Companies
Leonard Lauder officially joined the Estée Lauder Companies in 1958 at the age of 25. His early contributions included establishing the company’s first research and development laboratory, which played a crucial role in the company’s innovation and growth. Lauder’s leadership was instrumental in expanding the company’s brand portfolio through strategic acquisitions, including MAC Cosmetics, Bobbi Brown, and Aveda. He served as President from 1972 to 1995 and as CEO from 1982 to 1999.
Under his leadership, the company went public on the New York Stock Exchange in 1996, marking a significant milestone in its history. Lauder’s vision and business acumen transformed the Estée Lauder Companies from a single-brand entity into a global powerhouse in the beauty industry.
Even after stepping down as CEO, he continued to influence the company as Chairman Emeritus, providing guidance on brand building, marketing, and global strategy.
Art Collection
Leonard Lauder is not only a business magnate but also a renowned art collector, particularly known for his extensive collection of Cubist art. His passion for collecting began at a young age with postcards and evolved into a focused pursuit of Cubist masterpieces.
Over four decades, Lauder amassed a collection that includes 81 works by iconic artists such as Pablo Picasso, Georges Braque, Juan Gris, and Fernand Léger. In 2013, he pledged this collection, valued at over $1 billion, to the Metropolitan Museum of Art, making it one of the largest gifts in the museum’s history.
This collection is housed in the Leonard A. Lauder Research Center for Modern Art at the Met, which supports research, exhibitions, and public lectures on modern art.
Lauder’s contributions to the art world extend beyond the Met; he has also been a significant benefactor to the Whitney Museum of American Art, where he served as a trustee and Chairman Emeritus.
Philanthropy
Leonard Lauder’s philanthropic efforts are as notable as his business achievements. He co-founded and co-chairs the Alzheimer’s Drug Discovery Foundation (ADDF) with his brother Ronald, a venture philanthropy model that funds high-risk, high-reward programs aimed at finding treatments for Alzheimer’s disease.
The Lauder brothers have pledged $200 million to the ADDF, marking the largest donation in the foundation’s history. Lauder’s commitment to combating Alzheimer’s is deeply personal, inspired by his mother’s battle with the disease.
In addition to his work with the ADDF, Lauder has made significant contributions to the arts and education. He is a long-time supporter of the Whitney Museum of American Art, where he has served as a trustee and Chairman Emeritus. In 2008, he made a landmark gift of $131 million to the museum, and in 2013, he pledged his extensive Cubist art collection, valued at over $1 billion, to the Metropolitan Museum of Art.
Apart from that, he has supported institutions like the University of Pennsylvania, where he established the Joseph H. Lauder Institute of Management & International Studies in honor of his father.
The Lauder Foundation, established in 1987, channels resources into various causes, including democracy, global development, education, arts and culture, Jewish causes, and disease research. The foundation has supported numerous organizations, such as the Aspen Institute, the Frick Collection, and the Metropolitan Opera, demonstrating Lauder’s broad philanthropic reach.
Personal Life
Leonard Lauder married Evelyn Hausner in 1959, and the couple remained together until her passing in 2011. Evelyn was not only his life partner but also a significant figure in the Estée Lauder Companies, serving as Senior Corporate Vice President. Together, they had two sons, William and Gary, who have continued the family legacy in the business world.
In 2015, Lauder found love again with Judy Glickman Lauder, a prominent photographer and philanthropist. Their relationship blossomed after both had been widowed, and they often speak fondly of their “second chapter” together.
Lauder is also an avid art collector, particularly of Cubist works, and his collection is considered one of the most significant in the world.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
