For far too many people, there seems to be some level of confusion with regards to actually who owns MAC Cosmetics. The simple reason for this, is that the story detailing the creation of this unique, one of kind cosmetics company is so compelling and it begins in Canada, back in 1984. It was then that two men by the names of Frank Toskin and Frank Angelo officially joined forces to launch the company which they named MAC Cosmetics. An acronym for “makeup art cosmetics”.
So Just Who Owns MAC Cosmetics Now?
However beginning in the early nineties, Esthe Lauder Inc. began buying up stock in the company with the intentions of eventually gaining a controlling interest in the makeup line. In 1994 that was accomplished when Esthe Lauder announced that they then owned more then 50% of the company stock. They weren't to stop there and by 1998 Esthe Lauder owned the entire company outright.
No Matter Who Owns MAC Cosmetics, Their Charitable Work Continues
Even so, aside from owning the makeup line, Esthe Lauder has done very little to detract from or change any of what the two original founders began. A stellar example of this, is the continuation of MAC AIDS fund that the two original founders began. This fund is kept alive by the full proceeds from the sale of all products in the Viva Glam lineup and to date has raised and distributed some $120 million to community based AIDS related charities.