Do you want to just start out by introducing yourself?

Sure.

I am Emily Glazer and I write about billionaires and power and influence for the Wall Street Journal.

Are you a billionaire?

Does it take one to know?

One day, Ryan, maybe after this podcast goes viral.

You and me both.

Recently, Emily's been paying particularly close attention to a few specific billionaires,

the Lotters, the super wealthy family that owns a luxury cosmetic giant, Esta Lauter.

Where does the Lauter family fall in the landscape of billionaires?

So, the Lauter family comprises of many billionaires.

Let's start there.

You know, oftentimes in family dynasties, there's like maybe one or two,

but the Lautersadders there are many.

But these billionaires have been losing billions lately.

Their company is struggling, and the family is fighting internally.

This year, Estay Lauder's stock has plummeted by about 50%.

That's pretty massive.

That has erased about $45 dollars in the company's market cap or the market value.

It's erased about 15 billion dollars of the family's wealth.

So it's not looking too great for them.

Geez, that is a lot of money.

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