(Cosmetics Business) - The family of Leonard Lauder, the heir and son of Estée Lauder Companies (ELC) co-founders Estée and Joseph Lauder who died in June, are selling US$1bn worth of shares in ELC to settle his estate.
Trusts connected to his descendants have proposed the sale of 11,301,323 shares of the company’s Class A Common Stock, at a value of $90 per share.
The cash will be used by the selling stockholders to cover costs involved in settling Leonard Lauder’s estate, including “to satisfy certain estate obligations such as estate taxes, debts and administration expenses”, ELC said in a statement.
ELC itself is not selling shares in the company and will not benefit from the family’s share sale.
The Lauder family will own directly or indirectly 82% of the outstanding voting power of ELC’s common stock after the secondary share offering, which is expected to close on 6 November.
Prior to the sale, the family owned 86% of voting control in ELC.
Trusts connected to his descendants have proposed the sale of 11,301,323 shares of the company’s Class A Common Stock, at a value of $90 per share.
The cash will be used by the selling stockholders to cover costs involved in settling Leonard Lauder’s estate, including “to satisfy certain estate obligations such as estate taxes, debts and administration expenses”, ELC said in a statement.
ELC itself is not selling shares in the company and will not benefit from the family’s share sale.
The Lauder family will own directly or indirectly 82% of the outstanding voting power of ELC’s common stock after the secondary share offering, which is expected to close on 6 November.
Prior to the sale, the family owned 86% of voting control in ELC.
By Lynsey Barber
November 5, 2025
