Billionaire Sues Co-owner of Jasper Johns Triptych Over Promised Gift
- January 28, 2013 14:03
Billionaire businessman Henry Kravis has sued multimillionaire investment advisor and winery owner Donald Bryant over a Jasper Johns triptych that the two purchased together.
The pair of New Yorkers bought "Tantric Detail I-III," valued at $15 to $25 million, five years ago and reportedly share the artwork between their Upper East Side residences on an annual basis. They had an agreement to give the work to Museum of Modern Art (MoMA) after their deaths.
Kravis's wife, Marie-Josee, is president of the board of MoMA and a part owner of the important trio of paintings which feature cross-hatching, a skull and anatomical parts.
Bryant was formerly a trustee at MoMA. His reason for allegedly reneging on the promised gift is unknown.
Currently, the Johns artwork is housed with Bryant.
The Kravises filed a suit in state court in Manhattan which states, “Mr. Bryant now refuses to transfer the art works to Mr. and Mrs. Kravis in accordance with their agreements and consistent with their uniform past practice.Instead, as a condition to parting even temporarily with the art works, Mr. Bryant has demanded a new agreement” that would, “repudiate the promised gift of the Art Works to MoMA.”