David Geffen Pledges US$150 Million For New Building
Los Angeles County Museum of Art (LACMA) started a fundraising initiative with the goal of constructing a new building. The ambitious goal was to raise US$650 million to build one of L.A.’s most anticipated pieces of architecture since the majestic Disney Concert Hall by Frank Gehry was completed in 2003. After three years of relentless fundraising, LACMA received excellent news – David Geffen pledged a contribution of US$150 million to the project. This brought the total raised up to US$450 million – significantly closer to its goal.
The Museum’s Largest Gift Ever
David Geffen is an American business magnate and Founder of DreamWorks and Geffen Records. He is also well known as a generous philanthropist with a keen interest in the arts. When interviewed about his lavish donation, Geffen said, “I love art, I love L.A. and I could do it, so I did”. With a net worth of over US$7 billion, Geffen regularly donates to arts and culture causes. He gave US$100 million each to MoMA and Lincoln Centre. The entrepreneur also mentioned that he would consider leaving part of his substantial art collection to LACMA.
Giving the LA Art Scene Wings
The new LACMA building will replace four of the seven buildings the museum currently occupies. It was designed by modernist Peter Zumthor and is rumoured to be a masculine concrete structure with a strong architectural presence. The design includes massive floor-to-ceiling windows overlooking a park nearby and an interior reminiscent of an Incan temple. It is expected to be extraordinary. The hope is that this building will support L.A.’s rapid rise to becoming a global cultural hub.
A World-Class Art Museum
It was announced that the LACMA building would be named after Geffen and will be known as David Geffen Galleries in honour of his substantial contribution to making it a reality. Construction is due to start in 2019 and is expected to be completed by 2023.