Los Angeles

Art collectors Nicolas Berggruen and Eli Broad. (Courtesy Patrick McMullan Company)

‘Homeless Billionaire’ Nicolas Berggruen Is Collecting 12 Artists for LACMA

This weekend, the Los Angeles Times published a profile of art collector Nicolas Berggruen, who is known to some by the epithet “the homeless billionaire” because, the paper explains, “he prefers living out of five-star hotels to owning any homes.” Mr. Berggruen is also a voracious art buyer and has gone about collecting in a very specific way. Here’s the Times‘ Jori Finkel:

“For Berggruen has over the last year quietly spent tens of millions of dollars buying museum-quality works by 12 leading contemporary artists, which he says he intends to donate to [the Los Angeles County Museum of Art]—if some general conditions are met.” Read More