Metropolitan Museum in New York received a massive donation for the new wing project

photo: metmuseum.org

New York – The Metropolitan Museum of Art in New York has received a massive financial donation of $125 million (almost three billion crowns), intended for the renovation project of one of the building's wings for the modern and contemporary art collection. The funds were donated to the museum by board member and investor Oscar Tang and his wife, reported The New York Times. This is the largest private donation in the 150-year history of the institution.

"The achievements and generosity of Oscar and Agnes are astonishing," said museum director Max Hollein in a press release. "The renovation of the space will allow the museum to present art from the 20th and 21st centuries from a global, encyclopedic, bold, and surprising perspective," he added.

The contribution from the Tang couple is a significant step forward in preparing the renovation project for part of the building, which is expected to cost around half a billion dollars in total. The museum is set to announce the name of the architectural designer this winter.