Jerry Perenchio, second left, is donating artwork worth $500 million to the Los Angeles County Museum of Art.
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The 83-year-old has now stepped into the glare of the Los Angeles art scene to donate works by Monet, Degas, Picasso and other artists, valued at $500 million, in the largest gift ever made to the Los Angeles County Museum of Art.Perenchio wants to use the gift to encourage other donors and collectors to support a new $600 million building at LACMA by architect Peter Zumthor, set to be completed by 2023 .Among the works are three significant paintings by French Impressionist Claude Monet, including a 1905 painting of water lilies.The donation of Edouard Manet's portrait of "M. Gauthier-Lathuille fils" from 1879 will be the first painting by the French Impressionist to enter LACMA's collection.
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