Aerin Lauder sells Estée Lauder stock

Aerin Lauder, a billionaire business woman, heiress, and granddaughter of Estée Lauder, has sold her stock in her family's beauty company for over $465 million.

Aerin Lauder - Aerin

The sale of 2.8 million shares in Estée Lauder Companies Inc. by Zinterhofer Aerin Lauder Trust was disclosed in a corporate filing to the United States Securities and Exchange Commission. Each share was valued at an average price of $166.21.

According to the filing, Lauder is making the sale for “asset diversification, tax and estate planning and charitable giving purposes”.

Earlier this month, Estee Lauder Companies reported a revenue of $3.74 billion for the quarter, with $1.55 earnings per share, a net margin of 12.45 percent and a return on equity of 43.52 percent. 

Lauder will maintain roughly 6 percent of her stock in the beauty company. She currently maintains an eponymous lifestyle brand, Aerin, which offers items in the categories of fashion, beauty, home décor, entertaining and lighting.

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