New York's Metropolitan Museum of Art has announced plans to merge with the Neue Galerie from 2028.
The Metropolitan Museum of Art will own the Neue Galerie's Fifth Avenue building and its collection of 20th-century Austrian and German art, built by Ronald Lauder, the billionaire heir to the Estée Lauder fortune.
Per a press release, the merger will bring together the most significant collection of 20th-century Austrian and German art outside of Europe in a single institution.
The Neue Galerie’s collection features iconic works by Gustav Klimt, Egon Schiele, Oskar Kokoschka, Ernst Ludwig Kirchner, Max Beckmann, Gabriele Münter, Josef Hoffmann, and more.
Neue Galerie
"The merger with The Met in 2028 will preserve and strengthen the Neue Galerie’s legacy in perpetuity," said Ronald Lauder, co-founder, president and chairman of the Neue Galerie.
Max Hollein, The Met's director and CEO, said: "Ronald has established a museum that is itself a work of art, and ultimately a profound reflection of his passion, expertise, and philanthropy."
Lauder and his daughter Aerin Lauder Zinterhofer are planning to donate a selection of 20th-century Austrian and German paintings from their personal collection to the combined institutions.
Met Ronald S. Lauder Neue Galerie
They will also make a substantial gift to support an endowment funding the care and preservation of the Neue Galerie, with more money pledged to support costs associated with the integration of the collection and building operations.
Several trustees of The Met have also made generous gifts to establish a significant endowment.
When the merger is completed, the Neue Galerie and its William Starr Miller House will be renamed the Met Ronald S. Lauder Neue Galerie.
The Metropolitan Museum of Art
The rebranded museum will continue to display its collection, offer programming and welcome visitors, but its broader assets, including its endowment, will transfer to The Met.
Aerin Lauder Zinterhofer, a trustee of The Met, said: "The Neue Galerie represents a lifelong passion for my father and a legacy our family is proud to help carry forward.
"To see it join The Met is incredibly meaningful. It ensures these works will continue to be preserved, studied, and shared with the widest possible audience for generations to come."
Images courtesy of Neue Galerie / The Met
