Lyonard Lodder, a businessman who built Esty Laudar in one of the world’s largest cosmetic manufacturers, died at the age of 92.
Lodder joined his parents’ company in 1958 and served as Chief Executive for 17 years. He was a skillful dealmaker and bought brands including Clinic, Bobby Brown and Mac.
“He was an icon and pioneer that respected around the world, which helped our company shape and will continue to do so for generations to come,” said Stephen de La Fawri, Chief Executive Officer of Esty Lauder.
According to the 2025 Forbes Rich List, New York -born billionaire’s estimated fate was $ 10.1BN (£ 7.5BN).
Lodder’s death was surrounded by his family on Saturday, said Esty lodder in a statement,
Born in 1933, he was the eldest son of Esty and Joseph Lodder. He served as a lieutenant in the US Navy before joining the family business.
At that time, the firm’s annual sales was less than $ 1m – about $ 11m in today’s money. It is now a global cosmetics veteran, working in 150 countries with the sale of $ 15.6BN last year.
Lodder led the expansion of the firm in Europe and Asia and formed its first research and development laboratory.
He made the company public in 1995, with its share price increased by 33% on the first day of trading in New York.
Lodder stepped as Chief Executive in 1999. He was involved with business and was Chairman Emeritus until his death.
Celebrity and businessmen are paying tribute to loudar.
Elizabeth Hurley, who got his first modeling job with his company, said on Instagram: “I called him my American daddy and I can’t imagine a world without him.”
Editor-in-Chief Steve Forbes said that Laudar “lived life well, and his death is the world loss.”
“Their legacy will be felt for the coming generations,” said Mike Bloomberg, Multi-Billionaire and former New York Mayor.
Away from business, Lodar was emotional about art. In 2013, he pledged his Arab-dollar collection of Cubist Artworks at the Metropolitan Museum of Art in New York.
He was also a lawyer for cancer research and served as an honorary chairman of the Board of Directors at the Breast Cancer Research Foundation.
