Metropolitan Museum of Art to Merge with Neue Galerie, Expanding Art Collection
The Metropolitan Museum of Art and the Neue Galerie have announced a merger that will take effect in 2028, creating a significant collection of 20th-century Austrian and German art. The Met will acquire the Neue Galerie's collection and its Beaux-Arts building on Fifth Avenue. The merger will preserve the Neue Galerie's legacy, with its iconic works, such as Gustav Klimt's 'Portrait of Adele Bloch-Bauer I,' remaining in place. The merger will also involve a substantial endowment, with contributions from Ronald S. Lauder, his daughter Aerin Lauder Zinterhofer, and other trustees, aiming to reach $200 million. 
