Leonard Lauder is making a gift to the Metropolitan Museum that is valued at $1 billion and will transform the institution’s collection of Modern art:

“In one fell swoop this puts the Met at the forefront of early-20th-century art,” Thomas P. Campbell, the Met’s director, said. “It is an unreproducible collection, something museum directors only dream about.” […] The trove of signature works, which includes 33 Picassos, 17 Braques, 14 Légers and 14 works by Gris, is valued at more than $1 billion. […] Scholars say the collection is among the world’s greatest, as good, as if not better, than the renowned Cubist paintings, drawings and sculptures in institutions like the Museum of Modern Art in New York, the State Hermitage Museum in St. Petersburg and the Pompidou Center in Paris. Together they tell the story of a movement that revolutionized Modern art and fill a glaring gap in the Met’s collection, which has been notably weak in early-20th-century art.

Cubism, Which Changed Art, Is Now Changing The Met (New York Times)