Cosmetics Chairman Gives Big Museum Gift

by Deidre Woollard (RSS feed)
Mar 23rd 2008 at 8:02AM

Cosmetics heir Leonard Lauder, chairman of the Estée Lauder Companies, has made New York's Whitney Museum of American Art feel pretty this week. He has donated $131 million which is the largest donation ever received by the museum in its 77-year history.Lauder is also the museum's chairman and donated the money through his arts foundation, The American Contemporary Art Foundation Inc. The money was given partially to ensure that museum will keep the Marcel Breuer-designed building on Madison Avenue at 75th Street even though it plans to open a satellite museum in the meatpacking district. The Whitney specializes in 20th and 21st- century American art and has the largest body of work by Alexander Calder in any museum. Lauder had a net worth of $3.2 billion in 2007 according to Forbes.

Tags: donation, estee lauder, leonard lauder, philanthropy, whitney museum, WhitneyMuseum