Wife of Lehman CEO selling off $20 million in artworks

By Laurie Bennett

September 26, 2008 at 12:16pm

When the going gets tough, the rich go to auction.

Bloomberg reports today that Kathy Fuld, wife of Lehman CEO Richard Fuld, is unloading a $20 million set of drawings at a November sale.

Four days after Lehman declared bankruptcy, Christie’s announced the sale of Abstract Expressionist drawings, including three by Willem de Kooning. Although the auction house did not identify the seller, Bloomberg reports that two New York dealers have named Kathy Fuld, who is vice chair of the Museum of Modern Art.

In a press release, Christie described the items as “a superlative grouping of master drawings of American post-war art from an important private collection.” The set includes works by Arshile Gorky, Agnes Martin and Barnett Newman, as well as de Kooning.

As one of the most highly paid executives on Wall Street, Fuld has become a prime target of those criticizing plans to rescue the nation’s financial system.

Richard Fuld received $34.4 million in compensation in 2007. The Fulds have an estate in Greenwich, CT, and last year paid $21 million for a co-op at New York’s exclusive 640 Park Ave.

More recently, the family has been selling off Lehman holdings that are almost worthless. Stock sold yesterday on behalf of the couple’s son and daughters traded at 14 cents per share.

Follow Muckety on Twitter Tweet This! Share on Facebook

Click here to sign up for the Muckety Newsletter

 Read related stories: Business  


  • There are no comments yet, be the first by filling in the form below.

Leave a Comment

The relationship map to the left is interactive.
• Solid lines are current relations. Dotted lines are former relations.
• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the "e" key.
• Move an item in the map by clicking and dragging.
• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.
• Find out more about an item in the map by right-clicking on the item and choosing Information about...
• View map color key.
• This interactive map requires Flash player.

Become a fan of Muckety on Facebook

  • Search for stories
    Special Features

Follow Muckety on Twitter Follow Muckety on Twitter
Muckety has no direct connection to most of the people or organizations listed on these pages.
We are unable to forward personal messages or provide personal contact information.
We make every effort at Muckety to ensure that our data is correct and timely. However, relationships are in constant flux and we cannot guarantee accuracy. If you come across incorrect or outdated information, please let us know by email.
© 2017 Muckety LLC