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Picasso Biographer Prices Lauder Met Gift Over $1 Billion

Billionaire cosmetics magnate Leonard A. Lauder pledged a 78-piece art collection, including 33 Picassos, to the Metropolitan Museum of Art, the museum announced yesterday.

Lauder’s Cubist collection, which includes 17 works by Georges Braque, 14 by Juan Gris and 14 by Fernand Leger, is one of the largest gifts in the museum’s history. It is valued at $1 billion, according to the New York Times, which did not say how it arrived at the figure. The museum’s statement didn’t disclose the value of the gift.