When Edvard Munch’s “The Scream” sold for a record $119.1m earlier this year, the buyer’s identity remained a secret, leading to widespread speculation. Now that the mystery has been solved—the painting’s new owner is billlionaire Leon Black, whose art collection is valued at $750m—the guessing game has focused on where the iconic artwork will wind up.
Will New York’s Metropolitan Museum or the city’s Museum of Modern Art get the painting? Mr. Black, whose fortune is estimated at $3.4b, sits on the board of both institutions, and neither currently owns a “Scream.” For his part, the painting’s seller, Norwegian real-estate developer Petter Olsen, intends to use part of the proceeds to fund a museum dedicated to Munch’s work.
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