Michael Bloomberg Gives $75 Million to Shed Arts Center

May 25, 2017 4:35 PM ET
Article

The ambitious new arts center known as the Shed, rising in Hudson Yards, has received $75 million from Michael R. Bloomberg, showing just how much the Far West Side continues to be shaped by a small group of influential billionaires.

They include Stephen M. Ross, the chairman of Related Companies, and Barry Diller, the media mogul. Mr. Bloomberg on Wednesday added $60 million to a $15 million contribution he had made to the Shed in 2012, which was previously undisclosed.

“I’ve always believed the arts have a unique ability to benefit cities by attracting creative individuals of every kind, strengthening communities, and driving economic growth,” Mr. Bloomberg said in a prepared statement. “The Shed will help New York achieve all three goals.”

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