L.A. Museum Receives Collection Worth $500-Million
November 7, 2014 | Read Time: 1 minute
A billionaire former television executive donated artwork worth an estimated $500-million to the Los Angeles County Museum of Art according to The Wall Street Journal. A. Jerrold Perenchio’s gift is by far the largest the museum has received and includes works by Pablo Picasso, Paul Cézanne, Edgar Degas, Edouard Manet, and Claude Monet. Mr. Perenchio is the former chairman and chief executive of Univision Communications.
Earlier this week, the Los Angeles County Board of Supervisors approved $125-million in public money to update and expand the museum. Meanwhile, across town, the J. Paul Getty Museum announced the purchase of a Manet work worth $65-million.
