Estee Lauder chairman emeritus Leonard Lauder dies at 92
Estee Lauder said on Sunday that its chairman emeritus, Leonard Lauder, died on Satuday at the age of 92.
Lauder joined the company in 1958 and played a key role in transforming the business from a handful of products sold under a single brand in U.S. stores to a multi-brand cosmetics giant.
He was the son of company founders Estee Lauder and Joseph Lauder.
He served many roles at Estee Lauder over six decades and led the launch of many brands including Aramis, Clinique and Lab Series, the company said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
3 hours ago
- Globe and Mail
Unifor mourns the loss of Buzz Hargrove, tireless champion of workers' rights
TORONTO, June 15, 2025 /CNW/ - Unifor is deeply saddened to learn of the passing of Basil "Buzz" Hargrove, a beloved and iconic figure in Canada's labour movement. As National President of the Canadian Auto Workers (CAW) from 1992 until his retirement in 2008, Buzz was a tireless advocate for working people and a deeply respected leader whose impact will be felt for generations.
CTV News
4 hours ago
- CTV News
Leonard Lauder, billionaire heir to cosmetics empire, dies at 92
Leonard Lauder, the eldest son of cosmetics pioneers Estée and Joseph H. Lauder and the former head of cosmetics giant Estée Lauder Companies, seen here in New York on May 5, 2014 has died age 92, according to an announcement by the company. Dennis Van Tine/via CNN Newsource Leonard Lauder, the eldest son of cosmetics pioneers Estée and Joseph H. Lauder and the former head of cosmetics giant Estée Lauder Companies, died on Saturday, according to an announcement by the company. He was 92. 'Throughout his life, my father worked tirelessly to build and transform the beauty industry, pioneering many of the innovations, trends, and best practices that are foundational to the industry today,' Leonard's son William P. Lauder, who serves as chairman of the company's board of directors, said in the statement. Born to a Jewish family in New York City, Leonard Lauder as a boy would join his mother on sales calls in salons and helped her pack boxes of powder and cleansing oils. He would later attend and graduate from Columbia University's School of Business after serving as a lieutenant in the US Navy for three years. He formally joined Estée Lauder at age 25 in 1958, when the company had just a handful of employees and under $1 million in sales. Estée Lauder Companies would grow into a global empire with a portfolio that includes Clinique, La Mer, The Ordinary, MAC Cosmetics and Bobbi Brown Cosmetics. Among his many roles included serving as president for 23 years, beginning in 1972, and chief executive from 1982 to 1999. He was named chairman in 1995 and held the role until 2009, according to the company. In 1995, Lauder took the company public on the New York Stock Exchange at $26 a share. The Estée Lauder Companies Inc. (EL) now has a market capitalization of about $24.3 billion. According to Bloomberg's Billionaire Index, Lauder had a personal net worth of $15.6 billion. When asked what he would want to be remembered for during a 2020 interview with CBS News, Lauder replied: 'He listened … and he was kind.' Within 24 hours of meeting Lauder, one could expect intimate, often handwritten, notes from the beauty pioneer. It was a sales technique that resembled the professional style of his mother, who was also known for believing business was about developing and maintaining relationships and making people feel important. 'At the beginning, we never advertised … we gave out samples,' he told David Rubenstein, the co-founder of the Carlyle Group, in 2021. 'We gave out samples that were large enough. If you give a customer a sample of a product and they like it, they come back and buy it again and again and again— that's what builds the business.' Lauder has been credited with creating 'the lipstick index' during the economic downturn following the attacks on September 11, 2001. He noticed that the purchase of cosmetics, especially lipsticks, tended to be inversely related to the economy because women replaced more expensive purchases with small pick-me-ups. In the fall of 2001, US lipstick sales increased by 11%. And back during the Great Depression, cosmetics sales overall increased by 25%. Lauder was also a devoted philanthropist and art collector. In 2013, he pledged a 78-piece collection of cubist art to the Metropolitan Museum of Art in New York City — the largest single philanthropic gift in the Met's history, according to Estée Lauder. He also established a research center for modern art at the Met, which supported fellowships, exhibitions and public lectures. He was also an advocate of cancer research and served as an honorary chairman on the Breast Cancer Research Foundation's board of directors. In 1998, Lauder and his brother, Ronald S. Lauder, founded the Alzheimer's Drug Discovery Foundation, which supports drug research to prevent, treat and cure Alzheimer's. 'His impact will be felt for generations to come thanks to his tireless philanthropy, advocacy, and creativity in tackling some of the world's greatest challenges. The number of lives he touched and positively impacted across all his endeavors is immeasurable,' said Ronald Lauder, 81, who serves as chairman of Clinique Laboratories. The company's founding family remains the biggest shareholder in the firm, and three members serve on the board of directors. He is survived by his wife, Judy Glickman Lauder, and his sons William and Gary.
Globe and Mail
5 hours ago
- Globe and Mail
Nvidia vs Palantir: Wall Street Says Buy Only 1 of These 2 Soaring Stocks
Nvidia (NASDAQ: NVDA) and Palantir Technologies (NASDAQ: PLTR) have been two of the stock market's biggest winners over the past couple of years -- they even delivered the best performances in the Dow Jones Industrial Average and the S&P 500, respectively, in 2024. Investors love these stocks for their positions in the high-growth artificial intelligence (AI) market. Nvidia is the world's leading AI chip designer, and Palantir sells a popular AI-driven software platform that helps customers make better use of their data. Both of these companies have reported soaring revenue and demand, and long-term prospects look bright as well. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » But Wall Street only recommends buying one of these players. According to Wall Street's average price forecast, one of these stocks is expected to climb nearly 20% in the next 12 months, while the other is expected to decline by 25%. Let's take a closer look at each and then find out which one Wall Street favors right now. The chip giant Nvidia is the world's AI chip leader, offering graphics processing units (GPUs) that outperform all others on the market. They're pricier than rivals, but the company says that over time, gains in efficiency result in lower total cost of ownership. So, Nvidia GPUs may actually be the least expensive option for customers if they commit to them over the long run. Nvidia hasn't had to worry about attracting customers, though. Demand for its latest architecture and chip, Blackwell, surpassed supply as the platform launched a few months ago. Blackwell delivered $11 billion in revenue during its first quarter on the market. And Nvidia's pledge to update its chips on an annual basis should keep this growth going. Of course, the AI giant faces rivals, such as Advanced Micro Devices, and even Nvidia's own customers, in some cases, have become rivals as they make their own chips. (They haven't abandoned Nvidia but are using their own chips in addition to Nvidia GPUs.) Still, there's enough demand in the growing AI market to allow Nvidia to remain on top and for others to succeed as well. The data analysis powerhouse Palantir's business may not seem too exciting at first: The company offers software, driven by AI, that aggregates a customer's disparate data and puts it to work. But what sounds simple or mundane is actually driving some pretty exciting results. For example, on a battlefield, it's helping the military make faster and better decisions. As for commercial use, customer Rio Tinto says Palantir's software, by accessing unstructured data, is helping it tackle problems it never thought possible. In Palantir's early days, governments were its biggest customers, but in recent times, commercial growth has taken off. Companies across sectors are rushing to Palantir's Artificial Intelligence Platform (AIP) to help them solve problems or implement new processes and strategies. In the latest quarter, Palantir's commercial business delivered double-digit revenue growth, and the government business has continued to do the same. So, Palantir has two high-growth businesses, and considering the company's comments about recent demand, there's reason to be optimistic about the future. The one problem with investing in Palantir is the stock's valuation. It trades for a lofty 232 times forward earnings estimates. But it's important to remember that this only considers earnings expected next year and doesn't account for the company's prospects over the long run. What does Wall Street think? Now, which of these two does Wall Street recommend buying? About 30 Wall Street firms have a positive recommendation, such as buy or outperform, on Nvidia, and the average 12-month price forecast indicates a gain of 19% from the closing price on June 12. As for Palantir, nine Wall Street analysts have a neutral or negative rating on the stock, and only two -- Wedbush and Bank of America Securities -- have positive recommendations on the shares. The average price forecast implies a 25% decline for the stock over the next 12 months. So, Wall Street clearly recommends buying Nvidia over Palantir, and much of this is linked to Palantir's steep valuation. Considering all the points above, Nvidia does stand out as the better buy right now for most AI investors, especially if you're cautious or focus on value. Aggressive investors, though, may still want to add some Palantir to their holdings. The company's earnings continue to march higher, demand is strong, and the AI market is booming -- and all this may create the recipe for a long-term win for Palantir shareholders, even those who buy at today's price. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor 's total average return is988% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
