Billionaire philanthropist Victor Pinchuk and his wife Olena are auctioning off a Jeff Koons sculpture to raise funds for medical aid for Ukrainian soldiers in the ongoing conflict with Russian forces.
The metallic pink piece, “Balloon Monkey (Magenta),” is expected to sell for $12.6 million at the upcoming 20th and 21st-century evening sale at Christie’s in London. The proceeds will be directed to the UK office of the Pinchuk family foundation for distribution.
Victor, a former politician and steel magnate, has been a vocal advocate for Ukrainian causes and is the country’s second richest person. He founded the Pinchuk Arts Center in 2006, showcasing Ukrainian contemporary artists, and has been listed on ARTnews’ Top 200 Collectors list.
Despite the conflict, the Pinchuks have already donated an estimated $30 million in medical aid through their foundation.
The sculpture being auctioned off has its own Ukrainian roots, inspired by Venus figurines at the National Museum of the History of Ukraine in Kyiv, which has been spared damage in the conflict.
Victor’s metal supply company Interpipe has also procured protective equipment for the Ukrainian military.
Despite being sanctioned by the Russian Federation, the company exported pipes and railway parts worth $54 million to Russia in the first half of 2019. Victor maintains that the company has no current business ties with Russia.
In addition to their philanthropic efforts, the Pinchuks have actively promoted Ukrainian culture and heritage in the West.
The Pinchuk Arts Center, forced to close its doors in Kyiv due to the conflict, recently hosted an exhibition at the Venice Biennale in partnership with the Ukrainian government.
The exhibition, titled “This Is Ukraine: Defending Freedom,” showcased Ukrainian contemporary artists and was addressed by President Volodymyr Zelensky.
The Pinchuks have also been supporters of the Future Generation Art Prize, which recognizes and supports emerging artists from around the world. Past recipients of the award include Njideka Akunyili Crosby, Martine Syms, Korakrit Arunanondchai, and Toyin Ojih Odutola.
The upcoming auction of the Jeff Koons sculpture is just one of the many ways in which the Pinchuks are giving back to their community and helping those in need. Their commitment to supporting Ukrainian soldiers and civilians during this difficult time is a testament to their dedication and compassion.
The Pinchuks’ efforts to support the Ukrainian people during the ongoing conflict with Russia through their charitable donations and cultural initiatives are commendable. They serve as an inspiration for others to use their wealth and influence for the greater good.