Newsprint Baron Brant Pledges Warhols to Revive Family Business
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Peter Brant, a one-time billionaire and an early patron of artist Andy Warhol, is using part of his contemporary art collection to help recapitalize the family newsprint business, according to state regulatory filings and people familiar with the matter.
Brant, chairman and chief executive officer of White Birch Paper Co. in Greenwich, Connecticut, pledged 56 works of art to the lending arm of Sotheby’s, including pieces by Warhol, Richard Prince and Jean-Michel Basquiat, according to a New York state filing. Separate filings show he also pledged pieces to a unit of Deutsche Bank AG and his former business partner, including a 1963 Warhol that one collector said has an estimated market value of as much as $35 million.