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Billionaire buzz: Palm Beach resident Ken Griffin buyer in $500 million art deal

Posted On: 02-28-2016

By Shannon Donnelly

Daily News Society Editor

So, just how rich is this guy?

Billionaire and new resident Ken Griffin’s wallet is about half-a-billion dollars lighter, but his walls will be so, so monied. Griffin is reportedly the buyer in one of the largest private art deals in history, paying $500 million to David Geffen’s foundation for pieces by Jackson Pollock and Willem de Kooning.

Griffin paid $300 million for de Kooning’s 1955 oil on canvas titled Interchanged, and $200 million for Pollock’s 1948 Number 17A.

Both paintings went on display in September at the Art Institute of Chicago, where Griffin is a trustee.

No word on where the Citadel founder plans to hang the pricey purchases, but it probably will not be his Malibu beach house. He has reportedly put that one on the market for $100 million.

Or half of a Pollock canvas.

Whatever works.

 

 

Source: Shannon Donnelly, February 28, 2016, Palm Beach Daily News

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