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Peel away the facade of fabulousness and the life of even the most powerful style star is often far more fragile than it seems.

Take John Demsey, the former Executive Group President at the Este Lauder Companies. A three-decade Lauder stalwart, Demsey helped steer the company from a mid-sized privately-run family concern to a publicly-traded cosmetics giant worth, at its peak, over $100 billion.

Last winter, as his father lay gravely ill and his mother began battling cancer, the rest of Demsey’s world unexpectedly imploded. In early March 2022, Demsey was forced to retire from Lauder after he reposted an Instagram meme that contained the N-word.

Demsey insisted hed misinterpreted the meme, which was initially shared by the rapper Chingy.

Despite removing the post within hours, pressure from both Lauder employees and call-out accounts like Estee Laundry saw Demseys 31-year career at Lauder end in barely a week. Branded a racist and quieted as part of a legal agreement with his former employer Demsey had been canceled.  

It felt like Id been the victim of an identity theft, Demsey, 67, told The Post in an exclusive interview, his first since the Instagram fiasco 18 months earlier. I made a mistake and I corrected it. But the life I had before this happened simply does not exist anymore.

The mementos of that life cover nearly every surface of the six-story East Side townhouse, which Demsey, who’s divorced, bought in 2018 and shares with his 14-year-old daughter, Marie-Hlne, eight dogs, and a pair of cats.

Demsey has spent the majority of his post-Lauder existence here sometimes angry, sometimes depressed, often exercising (hes dropped 35 pounds), but mostly cooped-up and clearly contrite.

I almost feel like Ive been under house arrest, he deadpanned. And when I do go out, people act as if theyve sat shiva for me. 

In the multi-billion dollar world of luxury and beauty, few stars cast a wider shine than Demsey. Tall and imposing, the Stanford-educated exec was equally adept at creating buzz and making money.  

Demsey has always had a deep sense of what consumers want before they want it, said Professor Thomai Serdari, Director of the Fashion and Luxury MBA Program at New York University, of Demseys tenure at Lauder. He is very good at commercializing brands … while providing the glue that makes ventures work.

Demseys presence at Lauder was particularly potent in two areas: far-sighted advertising campaigns and his chairmanship of the MAC AIDS fund, which has raised $500 million for HIV research over the past 25 years. 

In the ad world, Demsey is best known for the decades of VivaGlam and Beauty Icon promotions he oversaw for MAC. Many of their stars were black RuPaul, Rihanna, Diana Ross, Missy Elliott, Nicki Minaj. And Demseys intimacy with African-American artistry provided him with a level of racial maneuverability rarely afforded to white execs.

Long before the era of George Floyd, John was one of the most culturally attuned people when it came to inclusivity, longtime former Wall Street Journal fashion reporter Teri Agins told The Post. John was accepted by black people because it always felt like he was in the culture. 

Dressed in a tan suit and Zegna sneakers, Demsey displayed both incredulousness and humility as he recounted the events of the past year. He freely described his actions on social media as stupid and impulsive a casualty of the near-manic Instagramming which overtook him during Covid.

I was posting like 20 or 30 times a day, he said. People really responded to it and it just became this sort of a thing. 

The Chingy meme, Demsey explained, appeared randomly in his feed a Covid-era Big Bird tending to a bed-ridden Snuffleupagus accompanied by the phrase My n***a Snuffy done got the rona at a Chingy concert.

Demsey insists he read n***a as nanna a nod to Snuffleupagus grandmotherly get-up.

Ive never used that word in my life, Demsey said of the racial slur hes accused of promoting.

Even though Chingy himself went on Instagram to defend him, no one else will ever really know what Demsey was thinking when he pushed that share button. 

Branded a Lauder liability and a poster boy for white privilege Demseys demise reflects both the punitiveness of this current cultural climate along with a misguided belief in his own indispensability. 

I was a bit of an impresario, he said. And those businesses and people that I supported were very successful because that’s the way I was.

Indeed, what does matter, say longtime Demsey admirers, is his track record of hiring African Americans.

Take Sean “Puffy” Combs, who Demsey brought to Este Lauder in 2004 back when other beauty groups were reluctant to sign the rapper for a fragrance deal. Barely a year later, Combs’ scent Unforgivable had achieved $1.5 million in sales per week, according to The New York Times. 

John is one of the good guys, said Richard Parsons, the former Time Warner and Citigroup CEO and Chair of the Apollo Theater Foundation on whose board Demsey served for a decade. As far back as the 90s he was a leader in putting people of color in magazines and photo shoots he made a difference. 

Years before DEI mandates became standard, Demsey was providing exposure and paychecks to many African-American singers, stylists, and makeup artists.

For someone whos contributed so much to black culture, to hip-hop culture to have his career end like this is disheartening in every way, said creative director June Ambrose, whose clients have included MAC campaign stars such as Missy Elliott and Mary J. Blige.

A white man who earned nearly $10 million in 2021, Demsey is certainly privileged. But just because youre privileged, Ambrose continued, doesnt mean youre racist.

Demsey concedes hes disappointed by the friends who failed to publicly support him after he left Lauder. Harder still was the loss of the Lauders themselves, whom he had considered an extended family.

“I loved the family, particularly [chairman emeritus] Leonard Lauder because I felt that their values were so contrary to what other companies were about,” Demsey said.

Agins, for one, never imagined the company would actually let Demsey go. Sure, John’s actions were sloppy, but I figured he would be suspended and then Lauder would move past it, she told The Post.  

Yet as the very public face of a very public company, Demsey stood little chance of surviving the scandal.

You cannot earn enough accolades to divorce yourself from racial sensitivity, says Ernest Owens, author of the book “The Case for Cancel Culture.” This is about impact not intent.

Still, Owens concedes that Demsey was impacted by the corporate house cleaning that followed the murder of George Floyd. Had this happened before summer 2020, [Demsey] might have had a very different outcome, he said.

Yet while Demsey was hardly the only style leader charged with racial insensitivity Vogue Editor-in-Chief Anna Wintour, for instance, issued a mea culpa for “publishing images or stories that have been hurtful or intolerant” during her career   he was one of the few to actually wind up unemployed. 

But with Este Lauder stock down nearly 50% since his departure, Demsey may have actually been more indispensable than the Lauders realized.

Indeed, two years after he brought Sean Combs to Lauder, Demsey also convinced the company to launch fragrance and beauty lines for Tom Ford. Last November, Lauder snapped up Ford’s fashion label for a cool $2.8 billion the company’s first foray into the apparel arena since it was established nearly 75 years ago. 

Demseys home is a dizzying assemblage of art, furniture, an especially photography. There are nearly 600 photos in total from historic prints by Henri Cartier-Bresson to outtakes from Demsey’s many MAC campaigns. 

Its from here that Demsey is readying his next acts. He has no other choice, he said.

I dont want to be known as the canceled guy  for my legacy to be defined by just three hours on social media. 

Still bound by his reported Lauder non-compete, Demsey has taken on a senior advisory role with L Catterton, the private equity group tied to LVMH chief Bernard Arnault, where he’ll help identify and grow new business opportunities. Although the headlines accompanying Demsey’s appointment made note of the Lauder saga, NYU’s Serdari believes the business world has moved past it.

“People make mistakes,” she said, “but that shouldn’t take away from his expertise and intellectual ability.”

There’s also “Behind the Blue Door,” a hefty coffee-table book detailing the museum-like treasures throughout his home, which he co-authored with “CBS Sunday Morning” contributor Alina Cho and is inspired by the vintage blue door fronting his townhouse. The book will be released on October 17th.

Demsey is also returning to the social swirl he once dominated. In June he hosted a birthday party for stylist and costume designer Ambrose at his home where folks like actor Zachary Quinto and Bergdorf Goodman exec Linda Fargo appeared to have moved on from the meme.

And, so has Demsey whose father ultimately passed away in June 2022, while he moved his mother from Ohio to New York in order to look after her. Im not done not at all, he said. Ive got a lot more in me, a lot more to say. The world is still a very exciting place. 

dkaufman@nypost.com

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World

Why Putin won’t agree to latest Ukraine peace plan

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Why Putin won't agree to latest Ukraine peace plan

The Americans were given the full VIP treatment on their visit to Moscow. 

There was a motorcade from the airport, lunch at a Michelin-starred restaurant, and even a stroll around Red Square.

It felt like Steve Witkoff and Jared Kushner were on more of a tourist trail than the path to peace.

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Trump’s envoys walk around Moscow

They finally got down to business in the Kremlin more than six hours after arriving in Russia. And by that point, it was already clear that the one thing they had come to Moscow for wasn’t on offer: Russia’s agreement to their latest peace plan.

According to Vladimir Putin, it’s all Europe’s fault. While his guests were having lunch, he was busy accusing Ukraine’s allies of blocking the peace process by imposing demands that are unacceptable to Russia.

The Europeans, of course, would say it’s the other way round.

But where there was hostility to Europe, only hospitality to the Americans – part of Russia’s strategy to distance the US from its NATO allies, and bring them back to Moscow’s side.

Vladimir Putin and Steve Witkoff shaking hands in August. AP file pic
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Vladimir Putin and Steve Witkoff shaking hands in August. AP file pic

Putin thinks he’s winning…

Russia wants to return to the 28-point plan that caved in to its demands. And it believes it has the right to because of what’s happening on the battlefield.

It’s no coincidence that on the eve of the US delegation’s visit to Moscow, Russia announced the apparent capture of Pokrovsk, a key strategic target in the Donetsk region.

It was a message designed to assert Russian dominance, and by extension, reinforce its demands rather than dilute them.

Read more:
Michael Clarke answers your Ukraine war questions
‘Thousands’ of Westerners applying to live in Russia

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‘Everyone must be on this side of peace’

…and believes US-Russian interests are aligned

The other reason I think Vladimir Putin doesn’t feel the need to compromise is because he believes Moscow and Washington want the same thing: closer US-Russia relations, which can only come after the war is over.

It’s easy to see why. Time and again in this process, the US has defaulted to a position that favours Moscow. The way these negotiations are being conducted is merely the latest example.

With Kyiv, the Americans force the Ukrainians to come to them – first in Geneva, then Florida.

As for Moscow, it’s the other way around. Witkoff is happy to make the long overnight journey, and then endure the long wait ahead of any audience with Putin.

It all gives the impression that when it comes to Russia, the US prefers to placate rather than pressure.

According to the Kremlin, both Russia and the US have agreed not to disclose the details of yesterday’s talks in Moscow.

I doubt Volodymyr Zelenskyy is filled with hope.

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UK

Rachel Reeves hit by Labour rural rebellion over inheritance tax on farmers

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Rachel Reeves hit by Labour rural rebellion over inheritance tax on farmers

Chancellor Rachel Reeves has suffered another budget blow with a rebellion by rural Labour MPs over inheritance tax on farmers.

Speaking during the final day of the Commons debate on the budget, Labour backbenchers demanded a U-turn on the controversial proposals.

Plans to introduce a 20% tax on farm estates worth more than £1m from April have drawn protesters to London in their tens of thousands, with many fearing huge tax bills that would force small farms to sell up for good.

Farmers have staged numerous protests against the tax in Westminster. Pic: PA
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Farmers have staged numerous protests against the tax in Westminster. Pic: PA

MPs voted on the so-called “family farms tax” just after 8pm on Tuesday, with dozens of Labour MPs appearing to have abstained, and one backbencher – borders MP Markus Campbell-Savours – voting against, alongside Conservative members.

In the vote, the fifth out of seven at the end of the budget debate, Labour’s vote slumped from 371 in the first vote on tax changes, down by 44 votes to 327.

‘Time to stand up for farmers’

The mini-mutiny followed a plea to Labour MPs from the National Farmers Union to abstain.

“To Labour MPs: We ask you to abstain on Budget Resolution 50,” the NFU urged.

“With your help, we can show the government there is still time to get it right on the family farm tax. A policy with such cruel human costs demands change. Now is the time to stand up for the farmers you represent.”

After the vote, NFU president Tom Bradshaw said: “The MPs who have shown their support are the rural representatives of the Labour Party. They represent the working people of the countryside and have spoken up on behalf of their constituents.

“It is vital that the chancellor and prime minister listen to the clear message they have delivered this evening. The next step in the fight against the family farm tax is removing the impact of this unjust and unfair policy on the most vulnerable members of our community.”

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Farmers defy police ban in budget day protest in Westminster.

The government comfortably won the vote by 327-182, a majority of 145. But the mini-mutiny served notice to the chancellor and Sir Keir Starmer that newly elected Labour MPs from the shires are prepared to rebel.

Speaking in the debate earlier, Mr Campbell-Savours said: “There remain deep concerns about the proposed changes to agricultural property relief (APR).

“Changes which leave many, not least elderly farmers, yet to make arrangements to transfer assets, devastated at the impact on their family farms.”

Samantha Niblett, Labour MP for South Derbyshire abstained after telling MPs: “I do plead with the government to look again at APR inheritance tax.

“Most farmers are not wealthy land barons, they live hand to mouth on tiny, sometimes non-existent profit margins. Many were explicitly advised not to hand over their farm to children, (but) now face enormous, unexpected tax bills.

“We must acknowledge a difficult truth: we have lost the trust of our farmers, and they deserve our utmost respect, our honesty and our unwavering support.”

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UK ‘criminally’ unprepared to feed itself in crisis, says farmers’ union.

Labour MPs from rural constituencies who did not vote included Tonia Antoniazzi (Gower), Julia Buckley (Shrewsbury), Jonathan Davies (Mid Derbyshire), Maya Ellis (Ribble Valley), and Anna Gelderd (South East Cornwall), Ben Goldsborough (South Norfolk), Alison Hume (Scarborough and Whitby), Terry Jermy (South West Norfolk), Jayne Kirkham (Truro and Falmouth), Noah Law (St Austell and Newquay), Perran Moon, (Camborne and Redruth), Samantha Niblett (South Derbyshire), Jenny Riddell-Carpenter (Suffolk Coastal), Henry Tufnell (Mid and South Pembrokeshire), John Whitby (Derbyshire Dales) and Steve Witherden (Montgomeryshire and Glyndwr).

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Politics

Gensler separates Bitcoin from pack, calls most crypto ‘highly speculative’

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Gensler separates Bitcoin from pack, calls most crypto ‘highly speculative’

Former US Securities and Exchange Commission Chair Gary Gensler renewed his warning to investors about the risks of cryptocurrencies, calling most of the market “highly speculative” in a new Bloomberg interview on Tuesday.

He carved out Bitcoin (BTC) as comparatively closer to a commodity while stressing that most tokens don’t offer “a dividend” or “usual returns.”

Gensler framed the current market backdrop as a reckoning consistent with warnings he made while in office that the global public’s fascination with cryptocurrencies doesn’t equate to fundamentals.

“All the thousands of other tokens, not the stablecoins that are backed by US dollars, but all the thousands of other tokens, you have to ask yourself, what are the fundamentals? What’s underlying it… The investing public just needs to be aware of those risks,” he said.

Gensler’s record and industry backlash

Gensler led the SEC from April 17, 2021, to Jan. 20, 2025, overseeing an aggressive enforcement agenda that included lawsuits against major crypto intermediaries and the view that many tokens are unregistered securities.

Related: House Republicans to probe Gary Gensler’s deleted texts

The industry winced at high‑profile actions against exchanges and staking programs, as well as the posture that most token issuers fell afoul of registration rules.

Gary Gensler labels crypto as “highly speculative.” Source: Bloomberg

Under Gensler’s tenure, Coinbase was sued by the SEC for operating as an unregistered exchange, broker and clearing agency, and for offering an unregistered staking-as-a-service program. Kraken was also forced to shut its US staking program and pay a $30 million penalty.

The politicization of crypto

Pushed on the politicization of crypto, including references to the Trump family’s crypto involvement by the Bloomberg interviewer, the former chair rejected the framing.

“No, I don’t think so,” he said, arguing it’s more about capital markets fairness and “commonsense rules of the road,” than a “Democrat versus Republican thing.”

He added: “When you buy and sell a stock or a bond, you want to get various information,” and “the same treatment as the big investors.” That’s the fairness underpinning US capital markets.

Related: Coinbase files FOIA to see how much the SEC’s ‘war on crypto’ cost

ETFs and the drift to centralization

On ETFs, Gensler said finance “ever since antiquity… goes toward centralization,” so it’s unsurprising that an ecosystem born decentralized has become “more integrated and more centralized.”

He noted that investors can already express themselves in gold and silver through exchange‑traded funds, and that during his tenure, the first US Bitcoin futures ETFs were approved, tying parts of crypto’s plumbing more closely to traditional markets.

Gensler’s latest comments draw a familiar line: Bitcoin sits in a different bucket, while most other tokens remain, in his view, speculative and light on fundamentals.

Even out of office, his framing will echo through courts, compliance desks and allocation committees weighing BTC’s status against persistent regulatory caution of altcoins.

Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise — Hunter Horsley