Estee Lauder Net Worth At Death – How Did She Get Rich? Exposed!

Estee Lauder Net Worth At Death

Estee Lauder had an estimated net worth of $233 million at death. She started her own beauty company in 1946. Her business, which includes such product lines as Estée Lauder, MAC Cosmetics and Clinique, continues to thrive to this day. She earned the majority of her income from businesses.

Estée Lauder was an American businesswoman and beautician who founded a beauty company with a skin cream developed by her chemist uncle. After years of selling products on her own, Estée Lauder Cosmetics Inc. was founded in 1946. Her Youth Dew beauty oil catapulted her company to new heights of success in 1953. Lauder’s marketing strategies were as innovative as her cosmetic products, and she eventually became the world’s richest self-made woman.

To calculate the net worth of Estee Lauder, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.

Here’s the breakdown of her net worth:

Name: Estee Lauder
Net Worth: $233 million
Monthly Salary: $1 million+
Annual Income: $15 million+
Source of Wealth: Businesswoman

Early Life

Estée Lauder was born in Queens, New York, as Josephine Esther Mentzer. Her birth date is usually given as July 1, 1908, but some speculate that she was born two years earlier, in 1906. She was born into a Jewish immigrant family; her mother was Hungarian and her father was Czech.

Lauder’s interest in beauty began at a young age. She enjoyed brushing her mother’s long hair and applying face creams to her. Lauder later learned how to make her own beauty creams from her uncle, a chemist. She began selling her products at local hair salons when she was only a teenager. Lauder marketed her products as “jars of hope,” and she even distributed free samples.

She married Joseph H. Lauter (later Lauder), a garment industry businessman, in 1930. Leonard, the couple’s first child, was born in 1933. Lauder continued to grow her beauty business despite becoming a mother. She divorced her husband in 1939, but three years later they remarried. Ronald Lauder, the couple’s second son, was born in 1944.

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Estée Lauder Cosmetics Inc.

After years of running her cosmetics business, Lauder formalized it in 1946 by establishing the corporation that bears her name today. At the time, she and her husband were the entire company, and they only offered a few products. They were also making these items in a former restaurant’s kitchen. Lauder’s career took off the following year. She received her first cosmetics order from a department store. Saks Fifth Avenue placed an order for $800 in her products, which were sold out in two days. Around this time, Lauder also pioneered the free gift with purchase marketing strategy.

Lauder introduced her Youth Dew product in 1953. This bath oil also functioned as a perfume, and it quickly became a consumer favorite. Over the next decade, the company expanded into new markets and launched the men’s product line Aramis as well as the Clinique brand.

Later Career

Lauder became one of the world’s richest self-made women as a result of her intense drive and ambition. She moved through elite social circles, attending parties hosted by celebrities such as Nancy Reagan. Lauder also had cordial relationships with royals such as Wallis Simpson, Duchess of Windsor, and actress Grace Kelly, also known as Princess Grace of Monaco.

Lauder’s role in the company’s day-to-day operations was reduced in 1973. She resigned as president but remained chairman of the board of directors. Leonard, her eldest son, took over the family business. Lauder suffered a terrible loss when her beloved husband Joseph died in 1983. She created the Joseph H. Lauder Institute of Management and International Studies at the University of Pennsylvania in his honor.

In her 1985 autobiography Estée: A Success Story, Lauder detailed her rise to celebrity and wealth. Lauder’s company went public in 1995 after being privately held for decades. The company was valued at around $2 billion at the time.

Lauder devoted much of her later life to philanthropic endeavors. On April 24, 2004, she died in New York City. The company she founded is still in the family. Her oldest son Leonard is the Estée Lauder Companies’ chairman emeritus; her younger son Ronald is the chairman of Clinique Laboratories, LLC; and her grandson William Lauder is the Estée Lauder Companies’ executive chairman.

Lessons From Estee Lauder

Obsessed with quality, and a shameless self-promoter, Lauder once explained her philosophy this way: “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard.”

  • Demonstrate the business and personal benefits of your products to customers to make your people passionate about what they do.
  • Inculcate the “We are all salespeople” culture into your whole organization.
  • Every activity starts when someone has sold something to a customer—there is no business without sales.

Favorite Estee Lauder Quotes

I didn’t get there by wishing for it or hoping for it, but by working for it.

 

Trust your instincts: my first reaction is almost invariably the right one.

 

Confidence breeds beauty.

 

Write things down: your mother probably told you this. She’s right.

 

Act tough: what other call tough, I call persistent.

 

First comes the shy wish. Then you must have the heart to have the dream. Then, you work, and work.

 

Our life isn’t how much we can take out, but how much we can put in.

 

There are no homely women, only careless women.

Further Reading

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