Estee Lauder donates $131M to NYC Museum

March 19, 2008 8:16:44 AM PDT
Cosmetics executive Leonard A. Lauder says he will give $131 million to the Whitney Museum of American Art, the largest donation in the New York institution's history.

Lauder, who is also the chairman of the 77-year-old museum, told the New York Times for Wednesday editions that $125 million will go toward the Whitney's endowment.

Lauder, who turns 75 on Wednesday, is the chairman of the Estee Lauder Companies. Forbes magazine reported his wealth at $3.2 billion in 2007.