Cosmetics heir and Chairman of Estée Lauder Companies, Leonard Lauder, recently donated the largest ever donation-a whopping $131 million-to the Whitney Museum of American Art in New York.
But don’t expect the Whitney to powder its nose anytime soon with any major changes or renovations. In part, Lauder’s extravagant gift will help the Whitney secure its prestigious Marcel Breur-designed building on Madison Avenue and 75th. The Whitney also reportedly plans to open a satellite museum in the Meatpacking District.
Lauder, who maintains a close rapport as the museum’s chairman since 1994, has long served as a major benefactor of the Whitney. The fifth floor collection galleries are named in honor of him and his wife, Evelyn. Lauder is ranked as one of Forbes’ top billionaires.