The Museum of Modern Art in New York City has announced a $40 million gift from Chicago hedge fund billionaire Kenneth C. Griffin.
In recognition of the unrestricted gift from the Kenneth C. Griffin Charitable Fund, one of the largest in MoMA's history, the museum's 1964 black steel-and-glass East Wing will be named for Griffin. The Citadel founder and CEO is a noted collector of art and has given to a variety of educational institutions and museums, mostly in Chicago. He also serves on the board of the Whitney Museum of American Art, which named the lobby of its new building after him.
As reported by the New York Times, MoMA director Glenn D. Lowry said that Griffin's "commitment to our mission and vision is truly extraordinary."
"It is my hope," Griffin said of his first substantial gift to MoMA, "that visitors, artists, and students from around the world will experience all that MoMA has to offer for generations to come."