Prominent businessman and former president of the broadcast television network Univision, Andrew Jerrold Perenchio, announced his decision to bequest his collection of historic artworks (created between 1870 and 1930) to the Los Angeles County Museum of Art (LACMA). Valued at 500 million dollars, the art collection that the 83 year old businessman plans to donate to LACMA after his death—which currently decorates his mansion in the exclusive Bel Air neighborhood—consists of 47 artworks that includes paintings, sculptures and works on paper by artists like Monet, Magritte, Léger, Degas and Picasso. The only condition imposed by Perenchio for the donation to take place is the completion of the Museum's new building, which is planned for 2023. His donation intends to support the new construction and to encourage other potential donors to support the expansion the LACMA is implementing. With a fortune of 2,700 million dollars, the entrepreneur has amassed an important art collection that he has been donating gradually and anonymously for some time now. "Los Angeles is my home, and I wanted to leave it to a museum here," commented Perenchio in an interview with the Los Angeles Times, and he added that "Next to my family and friends, they are the most important things to me." LACMA CEO, Michael Govan, said that "Gifts of this magnitude are incredibly rare, especially in the fields of Impressionist and Modern art." The institution sees this unusual donation as a milestone that will allow it to exhibit the history of impressionism and modern art—an essential factor to make the museum more attractive.