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Ronald Steven Lauder (born February 26, 1944) is an American businessman and political activist. He and his brother, Leonard Lauder, are the sole heirs to the Estée Lauder cosmetics company, founded by their parents, Estée Lauder and Joseph Lauder, in 1946.
Estée Lauder (/ ˈ ɛ s t eɪ ˈ l ɔː d ər / EST-ay LAW-dər; born Josephine Esther Mentzer; July 1, 1908 [1] – April 24, 2004) was an American businesswoman. [2] [3] [4] She co-founded her eponymous cosmetics company with her husband, Joseph Lauter (later Lauder). [5]
The Estée Lauder Companies Inc. (/ ˈ ɛ s t eɪ ˈ l ɔː d ər / EST-ay LAW-dər; stylized as ESTĒE LAUDER) is an American multinational cosmetics company, a manufacturer and marketer of makeup, skincare, perfume, and hair care products, based in Midtown Manhattan, New York City. It is the second largest cosmetics company in the world after ...
It seems as if the company will get a new leader quite soon.
In 2013, Lauder promised his collection of Cubist art to The Metropolitan Museum of Art. The collection is valued at over $1 billion and constitutes one of the largest gifts in the museum's history. [5] Bloomberg Billionaires Index estimated Lauder's net worth at US$32.3 billion as of September 2021, the 44th richest person in the world. [6]
By 1973, she had become Estee Lauder's exclusive spokesmodel. [9] It was a job she would do for the rest of the decade, appearing in print and television ads that presented her in tasteful, elegant, generously appointed tableaux - a parlor, a drawing room, a veranda - to represent the image the Estee Lauder company created for itself.
In 2022, Freda's total calculated compensation as chief executive officer, president, and director at Estée Lauder was $25.5 million. [10] In 2023, Freda's total compensation from Estée Lauder was $21.8 million, or 645 times the median employee pay at the Estée Lauder Companies for that year. [11] Freda is on the board of BlackRock. [12]
Lauder had previously been chief operating officer of The Estée Lauder Companies, a position he held since January 2003. [7] Lauder was responsible for the oversight of all of the company's global operations. In addition, he oversaw nine of the company's specialty brands, including Prescriptives, Aveda and Bobbi Brown. [citation needed]