LACMA gets US$75m windfall with record donations towards expansion
by Tom Anstey | 03 May 2016
Museum co-chair Elaine Wynn has pledged US$50m (€43.7m, £34.1m) to the project
The Los Angeles County Museum of Art has just received two record donations totalling US$75m (€65.5m, £51.2m), bringing its US$600m (€524m, £409.7m) fundraising campaign within touching distance of its halfway point.
The two sizeable donations have come from museum co-chair Elaine Wynn, who has pledged US$50m (€43.7m, £34.1m) to the project, and former Univision chair Jerry Perenchio who is donating US$25m (€21.8m, £17m). The combined total amounts to the largest donation in the museum’s history. Perenchio has already shown incredible support for the project, pledging 47 works of art to the museum worth a combined total of more than US$500m (€436.7m, £341.4m).
With these pledges, the museum has now raised US$275m (€240.2m, £187.8m), with US$125m (€109.2m, £85.3m) to come from the Los Angeles County Board of Supervisors.
The donations kick-off the next phase of the Peter Zumthor-designed permanent collection building. The new building, which will replace four of the museum’s seven current buildings, is intended to present LACMA’s vast and wide-ranging permanent collection.
“These historic and very generous gifts set the foundations of LACMA’s future and will serve as a catalyst to encourage others to come on board,” said Michael Govan, LACMA CEO and Wallis Annenberg director. “Both Elaine and Jerry understand that the realisation of the new building is essential not only for the museum and its collection, but also for Los Angeles.”
The development is on track to begin construction in mid-2018, with the new building slated to open in 2023.
LACMA The Los Angeles County Museum of Art Art Gallery Museum Elaine Wynn Jerry Perenchio19 Feb 2016
James Goldstein gifting US$40m Big Lebowski house to Los Angeles County Museum of Art
09 Jul 2014
Peter Zumthor reveals new designs for Los Angeles County Museum of Art
The Los Angeles County Museum of Art has just received two record donations totalling US$75m (€65.5m, £51.2m), bringing its US$600m (€524m, £409.7m) fundraising campaign within touching distance of its halfway point. The two sizeable donations have come from museum co-chair Elaine Wynn, who has pledged US$50m (€43.7m, £34.1m) to the project, and former Univision chair Jerry Perenchio who is donating US$25m (€21.8m, £17m). The combined total amounts to the largest
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