What would you do with your money if you were unbelievably wealthy? It's fun to fantasize.
It must be even more fun to actually have the means to make a difference. Western New York native and billionaire bond-trader and art collector Jeffrey Gundlach has pledged $42.5 million to the Albright-Knox Art Gallery's expansion project. This donation is likely to be "the largest single private donation to a cultural institution in Western New York history."
In a city which once boasted more millionaires per capita than anywhere else in the nation, this is no small feat. Gundlach is following in the very large footsteps of Goodyears and Knoxes and Kleinhans and Albrights. Philanthropy was once a staple ingredient of Buffalo's economic vigor and cultural depth. This massive gift is one more indication that Buffalo is once again a city to believe in.
"Gundlach, an avid art collector who briefly entertained a bid to buy the Buffalo Bills in 2015, characterized his gift as an attempt to ride “the tailwind of civic pride” now sweeping Buffalo after decades of disappointment and decline. “I said to Janne, this campaign cannot be another missed wide right. It just can’t. It can’t be that we end up failing at this,” Gundlach said from his home in Santa Monica, Calif. “This is Buffalo flexing its muscle and its civic pride, and it did a fantastic job.”
The gallery will be renamed the Albright-Knox Gundlach Gallery to honor Gundlach's gift. Consider attending the interactive AK360 Public Meeting on Tuesday, September 27 at the Convention Center to share your ideas with the Albright-Knox and its architectural partner OMA, and explore the next phase of the museum's growth and development.
Read the complete article in The Buffalo News: Albright-Knox raises $100 million with help from Buffalo-born billionaire