Billionaire donates £10m for Tate Modern’s new mega wing  

Tate Modern has received the biggest donation in its history after a shipping magnate gave £10m toward a grand expansion project at the iconic Southwark site, it was announced yesterday.

Eyal Ofer, estimated to have a personal fortune worth $6bn (£4bn), made the donation because “one of the world’s great public art institutions” to remain accessible and inspire people’s curiosity.

The cash means that Tate Modern has now raised 85% of the funds needed to construct its £215m 10-storey extension, which would increase gallery space by 60% and is expected to further boost visitor numbers. The Tate Modern is already one of London’s most popular attractions, bringing in 5.3 million visitors each year, up from two million when it first opened in May 2000.

“Institutions like these offer the perfect forum for connecting people from around the world, helping to educate and enrich their lives,” Ofer said.

“It’s important for me and my family to help ensure the Tate Modern continues to thrive and remain accessible to a wide and varied audience.”

 

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