“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.

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 centre 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 endeavours 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.