Latest news with #EstéeLauderCompanies
Yahoo
14-07-2025
- Business
- Yahoo
The cosmetics billionaire, the rock star, and a series of very mysterious property deals in prime Palm Beach
Nestled along an idyllic beachfront street in Palm Beach, Florida, lie a series of multi-million dollar mansions, each one draped in shrubbery to protect the privacy of their wealthy, sometimes world-famous, residents. As if the day-to-day curiosity about the homeowners wasn't enough, one particular block of properties is currently being targeted by an ultra-wealthy but mysterious buyer seemingly looking to create an enormous compound. Between February and June, the buyer has spent an estimated $250 million to $350 million on approximately four properties that form a square on North Ocean Boulevard, located just five miles from President Donald Trump's Mar-a-Lago golf club. Two of the properties were purchased from William Launder, heir to the Estée Lauder Companies. Another was bought from Cathleen Black, the former chairwoman of Hearst Magazine, and her husband, Thomas Harvey. Rumors suggest that the buyer is also eyeing a neighboring property that belongs to rock musician Jon Bon Jovi — who has so far refused to sell. The buyer is reportedly billionaire and former Microsoft employee Charles Simonyi, according to The Real Deal and New York Post, although he has not confirmed that and it's unclear what is planned for the mega-property. Simonyi, 76, is a Hungarian–American engineer, Martha Stewart's ex-boyfriend, and space enthusiast who served as the chief architect during the development of Microsoft Word and Excel. With an estimated net worth of $8.48 billion, Simonyi has used his vast wealth to continue advancing technology and supporting educational programs. He's also used some of it to support mostly Republican candidates over the years, including $2,700 to Trump in 2016 and $200,000 to his 2020 campaign. Palm Beach, where Trump's sprawling, but questionably valued, Mar-a-Lago residence is located, has become the nucleus of the MAGA movement. Florida itself has also become a central hub for Republicans, rapidly losing its status as a swing-state when Trump rose to political prominence. The estate on North Ocean Boulevard would be a short 15-minute car ride to the president's golf club, although it's unclear Simonyi plans to spend any time there. Mostly, it appears Simonyi's money goes toward establishing a comfortable lifestyle. In 1997, Simonyi upgraded his 21,000 square foot home in Medina, Washington to become a smart home, an early proponent of the technology alongside his neighbors in the Seattle suburbs, Jeff Bezos and Bill Gates. The billionaire's mansion Villa Simonyi is immediately recognizable with an intensely modern exterior that contains no right angles, and includes an art gallery and boat dock. Now, he appears to be targeting Palm Beach with his real estate investments, sources confirmed to The Real Deal. The Independent has reached out to Simonyi for comment. In a hush-hush purchase, the unnamed buyer reported to be Simonyi reportedly shelled out nearly $200 million to Lauder for 2.8 acres of prime beachfront property with 360-degree views of the ocean back in February. Lauder, 65, served in executive positions at Estée Lauder until 2009 when he stepped down as CEO. He now serves as executive chairman in the family beauty business. He is estimated to be worth $1.5 billion. Lauder had been sitting on the land, which was made up of two lots, for several years. Initially purchased in 2021, the cosmetics heir demolished what was once a monstrous home, intending to use it for himself before choosing to put it on the market for a whopping $177 million, according to The Wall Street Journal. For nearly two years, the valuable plots sat empty on the palm-tree-lined street in Palm Beach before the unnamed buyer approached Lauder with an offer he couldn't refuse — although it's unclear exactly how much was paid. The sale was made confidentially, so deed records aren't available online. The only indication of the lofty price was when the Lauder's agent, Ryan Serhant, a real estate mogul with his own Netflix TV show, made a cryptic Instagram Story the day before news of the sale dropped. 'Sold and closed the most expensive home of my entire career today for just under $200 [million]. And I did the deal over the phone,' Serhant wrote, according to Bravo TV. The Independent has reached out to Serhant for comment. Months after the quiet deal was made, the unnamed buyer reached out to the neighbors across the street who owned a 3,000-square-foot Mediterranean-style mansion, offering four times the amount that they initially paid for it. The owners, publishing pioneer Black and lawyer Harvey, handed over the deed to 1066 N. Ocean Blvd., a home they purchased in 2018 for roughly $4 million, in exchange for $18 million. Public records indicate the purchaser was listed as Creekshore LLC, a limited liability company incorporated in Delaware back in May. The LLC's address is tied to Rabideau and Klein, a real estate law firm with an office in Palm Beach. The firm, which specializes in high-end residential real estate, declined to comment for this story. Harvey told the Wall Street Journal he did not know the identity of the buyer but that they made an unsolicited offer on his home. Weeks later, 1072 N. Ocean Blvd., a terracotta-roofed home located next to Black and Harvey's, was purchased for $30 million – six times the amount that the previous owners bought it for in 2017. This time, Mango Leaf LLC, a limited liability company also incorporated in Delaware in May, was listed as the buyer. However, the address associated with the LLC is tied to a residential home in Vero Beach, Florida. Once again, Rabideau appeared to be involved in the deal, representing a trust that previously owned the home. Given the home is located next door to the most recent purchase, and across the street from Lauder's former home, it seems likely they are connected. The alleged buyer appears dedicated to snatching up the neighborhood homes and has reportedly inquired with the neighbors who live on either side of the property purchased from Lauder, South Florida Business & Wealth reported. But he may have run into some issues, specifically with one famous neighbor: Bon Jovi. Bon Jovi, 63, purchased the $43 million home in 2020. He moved from his home state, New Jersey, to the seven bedroom, 12-bathroom mansion designed by famed architect Thomas Kirchhoff, complete with columns, arches, marble and stunning ocean views. It's no wonder, when asked if he'd be willing to sell it, the 'Livin' on a Prayer' singer has reportedly resisted efforts. A spokesperson for Bon Jovi declined to comment. There are no public documents that state Simonyi is the buyer, though the Wall Street Journal, New York Post, and The Real Deal all named him as the likely buyer. Incorporation records of the LLCs, reviewed by the Wall Street Journal, indicate Creekshore LLC and Mango Leaf LLCs are tied to Seattle-based lawyer, Greyson Blue. Blue works for K&L Gates, a law firm with ties to billionaire Bill Gates through his late father. He also previously worked for the Bill and Melinda Gates Foundation. Simonyi was the 40th employee of Gates' Microsoft. The Independent has reached out to Blue for comment. Sources familiar with the situation told the Journal that Gates is not the buyer of the Palm Beach properties. While Simonyi is widely believed to be the buyer, it's unclear what he plans to do with the land he's been snapping up. He could merge the properties to create a massive compound, similar to his Washington residence. That would rival others nearby – such as those located on 'Billionaire's Row' on South Ocean Boulevard or Trump's own Mar-a-Lago residence. He could be looking to create the newest high-tech home, embodying his work in the field. Or he could be looking to take up residence in Florida due to it's financial benefits and political alignment. While Simonyi has not stated his political beliefs publicly, his recent donations to Republican John Barrasso and the National Republican Senatorial Committee indicate he'd likely be content with the state's politics. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Axios
08-07-2025
- Business
- Axios
Sally Susman departs Pfizer after 18 years
Pfizer chief corporate affairs officer Sally Susman is departing the company after roughly two decades, CEO Albert Bourla announced Tuesday. Why it matters: Susman is credited as one of the early architects of the modern corporate affairs function. During her time at Pfizer, she managed three CEO transitions, supported the rollout of the COVID vaccine, launched the foundation's Accord for a Healthier World initiative and helped the company dodge a high-profile proxy battle. Catch up quick: Susman joined Pfizer in 2007, overseeing communications, corporate responsibility, ESG, global policy and government relations, investor relations and patient advocacy. Prior to joining the pharmaceutical company, she led communications and corporate affairs at the Estée Lauder Companies and American Express. Susman started her career in Washington, D.C. supporting legislative affairs in the U.S. Senate and Department of Commerce. What they're saying: In a message to employees, Bourla explained the corporate affairs restructuring as another step "to prioritize focus, speed, and simplify our work processes." "As we continue to deliver results, my dear friend and longtime colleague, Sally Susman, and I have decided to integrate the critical capabilities of our Corporate Affairs function into the Pfizer organizations where partnerships already exist," he wrote. "Sally will help ensure a smooth transition." Details: The various functions within corporate affairs will be absorbed by the business units they support, a source tells Axios. For example, the U.S. government affairs and public policy team will report to the U.S. commercial president, the international policy and public affairs group will report to the international president, and investor relations will report into the chief financial officer. The big picture: Susman's exit is part of a broader move to shrink the company's most senior ranks as it seeks to return to pre-pandemic operating margins, according to a source familiar with the decision.
Fashion United
16-06-2025
- Business
- Fashion United
Leonard Lauder, beauty mogul who globalised Estée Lauder, dies at 92
Leonard A. Lauder, the visionary behind the transformation of Estée Lauder Companies from a modest family business into a multi-brand global beauty powerhouse, has died at the age of 92. A Wharton graduate and former U.S. Navy officer, Lauder joined the company in 1958 and served as president, CEO, and later chairman emeritus. Under his leadership, the group expanded dramatically, launching Clinique and Aramis, and acquiring businesses such as M·A·C, Bobbi Brown, and Jo Malone London, laying the foundation for today's prestige beauty landscape. A committed philanthropist, Lauder was instrumental in funding breast cancer research and modern art scholarship, donating his celebrated Cubist art collection to the Met. Revered within the industry for both his commercial foresight and personal generosity, Lauder leaves behind a lasting legacy that reshaped the business of beauty.
Yahoo
16-06-2025
- Entertainment
- Yahoo
Elizabeth Hurley and Karlie Kloss pay tribute to beauty executive Leonard Lauder
Elizabeth Hurley and Karlie Kloss have led tributes to legendary cosmetics industry executive Leonard Lauder. On Sunday, a representative for The Estée Lauder Companies announced that the businessman had died "surrounded by family" at the age of 92 the previous day. Leonard and his brother, Ronald Lauder, were the sole heirs to The Estée Lauder Companies and its fortune. The cosmetics business was founded by their parents, Estée and Joseph Lauder, in 1946. "Mr. Lauder was a true visionary, fearless leader, and cherished friend to so many," a spokesperson commented. "He was the beacon of our company and the north star of an entire industry. The world is a better place because Leonard Lauder was in it." Following the sad news, longtime Estée Lauder brand ambassador Elizabeth noted she was "devastated" to learn of the passing of her "beloved friend and mentor". "Since welcoming me into the Estée Lauder family in 1995, Leonard remained a beacon of constant love and support," she wrote on Instagram. "I called him my American Daddy and I can't imagine a world without him. We last spoke a few weeks ago, when Leonard called to congratulate me on entering my 30th year with The Estée Lauder Companies. A truly kind, endlessly charming, and unbelievably intelligent man... I shall cherish our memories for the rest of my life." While in her own tribute, fellow Estée Lauder face Karlie described Leonard as a "giant". "Leonard Lauder was one of the most inspiring leaders I've ever known - a true visionary who lived a life of service, led with generosity and grace, and uplifted so many through his unwavering commitment to the arts, to cancer research, and to the power of beauty in all its forms," the model stated. "I feel incredibly lucky to have learned from him and to have witnessed the depth of his purpose and impact." Elsewhere, make-up maven Bobbi Brown reflected on all that she learned about building a business from Leonard. Bobbi sold her eponymous brand to The Estée Lauder Companies in 1995. "I learned everything about growing and nurturing a brand from him l. He gave me the permission to be myself and told me to never ask for permission but beg for forgiveness, which I often did," she added. Leonard is survived by two sons and his second wife, Judy Glickman.
ABC News
16-06-2025
- Business
- ABC News
Leonard Lauder, eldest son of Estée Lauder founders and former CEO, dies aged 92
Leonard Lauder, the eldest son of Estee Lauder founders Estee and Joseph Lauder, has died aged 92, the cosmetics company has announced in a statement. The chairman emeritus and ex-CEO died surrounded by his family. "Above all, my father was a man who practiced kindness with everyone he met. His impact was enormous," his son WiIliam Lauder wrote in the statement. "He believed that employees were the heart and soul of our company, and they adored him and moments spent with him. "His warmth and thoughtfulness made an imprint on our company, the industry, and, of course, our family. Together with my family, The Estée Lauder Companies, and the countless people he touched, we celebrate his extraordinary life." Leonard Lauder was born in 1933 in New York City. He studied at Columbia University's Graduate School of Business and served as a lieutenant in the US Navy. He formally joined Estée Lauder in 1958, and was with the company for more than 60 years. "Mr Lauder was a visionary and an innovator, helping transform the business from a handful of products sold under a single brand in US stores to the multi-brand, global leader in prestige beauty that it is today," the statement said. He served as president of the company from 1972 to 1995 and as chief executive officer from 1982 through 1999. He was named chairman in 1995 and served in that role through June 2009. He led the launch of brands such as Aramis, Clinique and Lab Series. He created the company's first research and development laboratory, brought in professional management at every level, and was the driving force behind The Estée Lauder Companies' international expansion, helping to increase the company's sales and profits exponentially. Until his death he remained involved in the company's acquisition of Aveda, Bobbi Brown, Jo Malone London, La Mer and MAC. "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," William Lauder said. Stéphane de La Faverie, the current president and chief executive officer of Esteee Lauder Companies, said Leonard lauder was beloved by many. "To our employees at The Estée Lauder Companies, he was an inspiration and a champion. To the industry, he was an icon and pioneer, earning respect worldwide." Leonard Lauder was also known for his charitable contributions to medical research, education and the arts. He donated his collection of Cubist works to the New York Metropolitan Museum of Art, estimated to be worth about $US1 billion ($1.5 billion). He was a long-time advocate of cancer research and served as honorary chairman of the board of directors at the Breast Cancer Research Foundation, the organisation his beloved late-wife, Evelyn Lauder, founded in 1993. He also championed the fight against Alzheimer's by co-founding and leading the Alzheimer's Drug Discovery Foundation with his brother, Ronald Lauder, which supports drug research. "My father was a remarkable man, a leader in business, a devoted philanthropist, and a deeply loving father, grandfather, and great-grandfather," said his son Gary Lauder. Elizabeth Hurley, who got her first modelling job with his company, wrote on Instagram: "I called him my American Daddy and I can't imagine a world without him." Former mayor of New York City Michael Bloomberg wrote on social media that Leonard lauder was "one of New York City's most devoted and generous philanthropists". "He championed a host of causes without asking for any public credit — embodying the ethic of service that his family continues to carry forward today," he said. He was married to Evelyn Lauder from 1959 until she passed away in 2011. He remarried Judy Glickman Lauder, a philanthropist and internationally recognised photographer. "Leonard lauder was grateful to his wife, Judy, for widening his family circle and cherished his stepchildren and their families," the statement said. "But mostly, he was extraordinarily proud of both of his sons, their families, and his grandchildren and great-grandchildren. He loved them so dearly."
