Tate Trendy's recent extension renamed Blavatnik Building after record £50m donation – Art Newspaper

Right now (four Could) Tate introduced that Tate Trendy's new extension might be named the Blavatnik Building, after the Ukrainian-born American businessman Len Blavatnik. 

Though the scale of the donation isn't being disclosed, The Art Newspaper can report that it's over £50m. This makes it the most important-ever monetary donation to a UK museum. Till now the Sainsbury household has been essentially the most beneficiant donor, offering £25m for the British Museum’s 2014 extension and over £30m for the 1991 Sainsbury Wing extension on the Nationwide Gallery (the 1991 sum could be round £60m in at this time’s cash, taking inflation into consideration).

Len Blavatnik (Image: © Tim Bishop)

Len Blavatnik (Picture: © Tim Bishop)

Blavatnik emigrated from the Soviet Union to the US in 1978, turning into a citizen six yr later, and he additionally acquired UK citizenship in 2010. He made his cash within the Russian oil business and his wealth is now concentrated in his New York funding firm, Entry Industries, which has a large portfolio. 

The Blavatnik Household Belief has additionally given main donations to museums within the UK (Nationwide Gallery, Nationwide Portrait Gallery, Victoria and Albert Museum, British Museum and Royal Academy of Arts) and the US (Nationwide Gallery of Art and Metropolitan Museum of Art).

When Tate Trendy’s £260m extension was opened in June 2016, it was named the Change Home, reflecting the earlier use of the positioning for an influence station. The timing of at this time’s announcement of the constructing’s new identify, practically a yr after the opening, is stunning, however displays Blavatnik’s needs. Nicholas Serota, who will step down because the Tate director on the finish of Could, says that's he “delighted the brand new constructing now bears his identify”. Blavatnik’s reward was pledged in 2011, and performed an important position in serving to to safe assist from different main donors.

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Tate Trendy's recent extension renamed Blavatnik Building after record £50m donation - Art Newspaper