Agnes Gund sells Lichtenstein for $150M to fund criminal justice reform

Philanthropist Agnes Gund has sold Roy Lichtenstein's 1962 painting "Masterpiece" for $150 million through Acquavella Galleries. The proceeds will fund a new initiative called Art for Justice, aimed at combating mass incarceration and supporting criminal justice reform in the United States, with a focus on African American children. Gund, who has six partly African American grandchildren, stated she feels personally involved in the issue, which has been championed by movements like Black Lives Matter. In collaboration with the Ford Foundation, she aims to raise an additional $100 million over the next five years by involving other collectors. Whitney Museum chairwoman Laurie M. Tisch has already joined, citing her passion for the cause. Gund, a former president and current president emerita of the Museum of Modern Art in New York, has a long history of philanthropy, including founding Studio in a School in 1997 and serving on numerous boards. She was awarded the National Medal of Arts in 1997.