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September 29, 2008

Los Angeles Museum Receives $55-Million Gift of Cash and Artworks

The Los Angeles County Museum of Art has announced that it has received $45-million in cash and $10-million in artworks from the business entrepreneurs Lynda and Stewart Resnick, reports The New York Times.

The gift will support a new exhibition pavilion designed by Renzo Piano and will bear the couple’s name.

The Resnicks donated some of the money earlier but did not get attention for their gift.

In 2006, the Resnicks donated $25-million for a new entrance pavilion but agreed to relinquish naming rights to the oil company BP after it donated $25-million to the museum.

No details are known as to what works of art have been donated to the museum. The Resnicks are the co-chairmen of Roll International, a private holding company that owns Paramount Citrus, one of the nation’s largest citrus producers, as well as Fiji Water and Pom Wonderful pomegranate juice.

Ms. Resnick is chairwoman of the museum’s acquisitions committee.

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