Published On: Sat, Feb 20th, 2016

Ken Griffin buys two paintings from David Geffen for $500 million

ct-ken-griffin-pays-500-million-for-2-painting-Art Institute of Chicago. Interchange and Number 17A are on display at the Art Institute.

 

Hedge fund investor Kenneth Griffin paid $500 million for two abstract expressionist paintings by Willem de Kooning and Jackson Pollock from David Geffen, matching a record for high-priced art.

Griffin purchased Willem de Kooning’s Interchange (1955) for around $300 million and Jackson Pollock’s Number 17A (1948) for around $200 million in a deal reportedly completed last Fall. The paintings were both on view last September at the Art Institute of Chicago, where Griffin is a trustee,  according a person close to the matter.  “Interchange” and “Number 17A” are on display at the Art Institute.

“Interchange” matches the prior record from last year, which was $300 million paid for an 1892 portrait by Paul Gauguin of two Tahitian girls called “When will you marry?” according to The New York Times.

The paintings were sold by the David Geffen Foundation. The music and movie mogul Geffen, founded Geffen Records and co-founded Asylum Records. He also co-founded DreamWorks with Steven Spielberg.

Geffen is a philanthropist who donated $100 million last year to Lincoln Center, home of the New York Philharmonic, prompting a renaming of Avery Fisher Hall to David Geffen Hall.

 

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