Estée Lauder Chairman Emeritus Leonard Lauder outlined the simple keys to success and shared the lessons he learned in his rise to everlasting leadership in an exclusive interview with Fox Nation.
The eldest son of Estée and Joseph Lauder joined host Dana Perino in a new episode of Fox Nation's "Dana Perino's Book Club" to discuss the publication of his new memoir, "The Company I Keep: My Life In Beauty."
In one passage, Lauder, 87, writes that the "most important lesson" that would ultimately shape his career was learning to rely on his own intuition to make important decisions.
"Instinct is something that is natural and engrained, however, instinct has its foundations in experience," he writes.
Lauder told Perino that this realization "comes from years of making the wrong decisions where I had my instinct, and I said, 'No, no, no.' I now know enough about my instincts that I trust them absolutely," he explained, "and too many times, my team would try to talk me out of something [and] I'd say, 'No, this is what I instinctively feel is right to do,' and in retrospect, I think I made all of the decisions right."
Leonard joined the family business in 1958, taking over as president in 1972 and becoming CEO in 1982. According to Forbes, Lauder acquired brands like MAC and Aveda in the 1990s and took the company public on the New York Stock Exchange in 1995.
Estée Lauder employees still refer to Leonard as the company's "Chief Teaching Officer." His net worth is currently worth $22.5 billion, according to Forbes.
The beauty behemoth made big waves in the industry in the '70s by hiring more female employees to better gauge their market. But, Leanord told Perino, he has long stood by his rule against employing friends or former classmates.
"I now know enough about my instincts that I trust them absolutely."
At first, "it was hard," Lauder said, "but at the end of the day it was easy. You can't hire people you can't fire ... and that makes all the difference in the world,"
Estée and Joseph Lauder launched their brand in 1946 and received their first major order of $800 worth of products the following year from Saks Fifth Avenue. Estée first began experimenting with women’s beauty concoctions in her family's kitchen before growing her brand into the iconic global prestige beauty company it is today.
For Lauder's full interview, join Fox Nation and watch the latest episode of "Dana Perino's Book Club" today.
Fox Nation programs are viewable on-demand and from your mobile device app, but only for Fox Nation subscribers. Go to Fox Nation to start a free trial and watch the extensive library from Tomi Lahren, Pete Hegseth, Abby Hornacek, Laura Ingraham, Ainsley Earhardt, Greg Gutfeld, and many more of your favorite Fox News personalities.
Fox Business' Angelica Stabile contributed to this report.
Fox News First
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox.
By entering your email and clicking the Subscribe button, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.