In Historic U.S.-China Partnership, Budi Tek’s Shanghai-Based Yuz Museum Will Partner With LACMA
An interesting succession plan for Yuz Museum.
“Budi Tek, the prodigious art collector and founder of the Yuz Museum in Shanghai, said at a panel discussion in Hong Kong this morning that he will partner with the Los Angeles County Museum of Art to form a yet-to-be-named foundation, to which he will donate most of his sprawling collection of Chinese contemporary art....
The news comes just a day after LACMA announced that collectors Gérard and Dora Cognié will give the museum its largest gift of contemporary Chinese and global ink-related art in the museum’s history, burnishing its position as a global player with a large collection Asian art. At the moment, Govan estimates that while LACMA has several significant pieces of ancient Chinese art, it only has about ten significant works of Chinese contemporary art, so access to Tek’s holdings is a substantial achievement.“