London’s Courtauld Gallery and Institute has received a £30m donation from the Reuben Foundation, set up by billionaire brothers and property tycoons David and Simon Reuben. This is the largest donation in the Courtauld Hotel’s 93-year history.
The institute said in a statement that this was the start of a “long-term partnership” in which the Reuben Foundation would support the exhibition by sharing the brothers’ extensive art collection. The private foundation’s charitable giving focuses on health care, education and the arts.
“This marks a defining moment in the Courtauld’s history, opening a bold new chapter that takes us into the next century with even greater ambition and purpose,” said Mark Hallett, director of the institute.
The foundation has previously supported London’s Design Museum and the Imperial War Museum.
The Indian-born brothers Reuben are estimated to have a fortune of nearly £27bn, ranking second in the latest wealth rankings. sunday times Rich list. The newspaper reported that they first made their fortunes by buying and selling Russian aluminum in the early 1990s.
They have since branched out into real estate and now run a large portfolio in London. The pair are currently transforming the city’s historic Admiralty Arch into a luxury hotel. Earlier this year, it was reported financial times The Reubens family is in talks to invest in a consortium looking to take control of Only Fans, a subscription service known for hosting adult content.
“We are delighted to have the opportunity to build on The Courtauld’s illustrious history and support its ambitious development.” art news top 200 collector Lisa Reuben, Simon Reuben’s daughter and a trustee of the foundation, said in a statement.
The institute is no stranger to generous donations. A successful centenary campaign has helped the company raise around £115m over the past 10 years. Most of the proceeds will be used to renovate its academic building, which still needs a £65m capital injection to complete. The Art Newspaper the report said.
Avid art collector and Bet365 founder Denis Coates and Ukrainian businessman Sir Leonard Blavatnik have also donated to The Courtauld in the past.
