Summary by Moomoo AI
On December 31, 2023, LAL Family Corporation filed an amendment to their Schedule 13G with the SEC, indicating a significant ownership stake in The Estée Lauder Companies Inc. The filing, which is the 18th amendment, shows that LAL Family Corporation beneficially owns 80,437,628 shares of Estée Lauder's Class A Common Stock, representing approximately 25.7% of the class. These shares are held indirectly through LAL Family Partners L.P., where LAL Family Corporation acts as the sole general partner. The shares in question consist of Class B Common Stock, which is convertible into Class A shares and carries ten times the voting power per share compared to Class A. Without conversion, the ownership represents about 54.0% of the aggregate voting power of the company. The...Show More