Robert Mnuchin

Robert E. Mnuchin (born 1933) is an American art dealer and former banker. He is the founder of the Mnuchin Gallery at 45 East 78th Street, New York. He is the father of Steven Mnuchin, who is the United States Secretary of the Treasury in the Trump administration.

Robert Mnuchin
Born1933 (age 86–87)
NationalityAmerican
Alma materYale University
OccupationBanker, Goldman Sachs partner
Known forfounder, Mnuchin Gallery
Spouse(s)Elaine Terner Cooper (divorced)
Adriana Mnuchin
Children5, including Steven Mnuchin

Early life

Mnuchin was born in 1933,[1] and grew up in Scarsdale, New York. His parents (his father was Leon A. Mnuchin) were "modest collectors" of art.[2] He graduated from Yale University in 1955.[2]

Career

After graduating from Yale, Mnuchin served in the Army for two years and subsequently joined Goldman Sachs in 1957, staying there for 33 years. Mnuchin was named a general partner in 1967, headed the trading and arbitrage division in 1976, and joined the management committee in 1980. He, along with his co-worker at Goldman Gus Levy, developed Goldman's block trading business and ran the firm's equities division until his retirement in 1990.[3][4] In his final year before retirement, he earned a reported $8.7 million salary.[5]

In 1992, Mnuchin opened his gallery, C & M Arts, with James Corcoran, a Los Angeles-based dealer.[2] In 2005, the name of gallery was changed to L&M Arts when he entered into partnership with Dominique Lévy; she left in 2013 to open her own gallery nearby.[6][7]

Personal life

Mnuchin's first wife was Elaine Terner Cooper.[8] They had two children. One son, Alan G. Mnuchin, was a vice president at Goldman Sachs in 1995, when he married Kimberly E. Kassel.[9] The second son, Steven Mnuchin, also became a banker with Goldman Sachs.[4][8] and Secretary of Treasury under Donald Trump. In 1999 Cooper was a vice president of the Solomon R. Guggenheim Museum's international directors council, and a director of the Byrd Hoffman Foundation.[8] She died on 14 May 2005.[10]

Mnuchin married his second wife Adriana in 1963. Adriana Mnuchin founded retail enterprises Tennis Lady (22 stores in the US and Canada) and Cashmere-Cashmere (4 stores in New York and New Jersey). In 1995, she co-founded The Shakespeare Society (the first in the USA) and in 2009, Roundtable Cultural Seminars, an adult continuing education organization. Robert and Adriana Mnuchin have one child together: a daughter, Valerie Mnuchin.[11] His step-daughter, Lisa Abelow Hedley, was nominated for an Emmy award for documentary film, and is married to the writer of Flashdance and producer of Flashdance: The Musical, Tom Hedley, and they have four children together.[12]

In 1990, Mnuchin and his wife Adriana bought the Mayflower Inn, a country house hotel in Washington, Connecticut, which they turned into a Relais & Chateaux 30-room hotel, spa and restaurant, before selling it in 2007.[13] In 2011, they purchased a 5,850-square-foot (543 m2) Upper East Side house at 14 East 95th Street from Solomon Asser for $14.25 million, using his company, Nuke Properties LLC.[14] Initially listed in 2014 at $17 million, it sold in January 2016 to Alastair and Alisa Wood for a reported $13 million.[15]

Contemporary art purchased by Mnuchin on 16 May 2019 broke the record price for a work by a living artist. Jeff Koons' 1986 stainless steel sculpture titled Rabbit was purchased at an auction in New York for US$91.1 million.[16]

References
  1. "Bob Mnuchin". ArtCaste. Archived from the original on 2016-12-03. Retrieved 2 December 2016.
  2. Pogrebin, Robin (25 October 2013). "At 80, Mnuchin Remains a Passionate Promoter of Postwar Art". New York Times. Retrieved 10 November 2016.
  3. Eichenwald, Kurt (2 October 1990). "Business People; Goldman, Sachs 'Coach' Retiring After 33 Years". The New York Times. Retrieved 23 August 2017.
  4. "Trump Names Hedge Fund Manager as National Finance Chairman". Bloomberg.com/politics. 5 May 2016. Retrieved 2 December 2016.
  5. New York Media, LLC (13 April 1992). New York Magazine. New York Media, LLC. pp. 54–57. ISSN 0028-7369.
  6. Goldstein, Andrew M. (2015-03-27). "Former Goldman Sachs Weather-Maker Robert Mnuchin on How He Conquered the Art Market, Too | Art for Sale". Artspace. Retrieved 2016-11-11.
  7. "Bob Mnuchin". Gawker. 25 January 2008. Retrieved 3 December 2016.
  8. "WEDDINGS; Heather Crosby, Steven Mnuchin". New York Times. September 26, 1999. Retrieved May 10, 2016.
  9. "WEDDINGS – Alan G. Mnuchin, Kimberly E. Kassel". The New York Times. 1995-02-12. Retrieved 2016-11-11.
  10. "Paid Notice – Deaths COOPER, ELAINE TERNER – Paid Death Notice". The New York Times. 2005-05-16. Retrieved 2016-11-11.
  11. "Michael K. Rozen, Valerie Mnuchin". The New York Times. 4 August 1996. Retrieved 23 August 2017.
  12. "For Wife of 'Flashdance' Writer, Life of Privilege Also a Call to Action – Health & Science – February 2014". Connecticutmag.com. 2014-03-03. Retrieved 2016-11-11.
  13. Adriana Mnuchin. "Entrepreneur, Educator, Art Collector". Adriana Mnuchin. Retrieved 2016-11-11.
  14. Morgan Halberg. "No More Limestone: Mnuchin Clan Sells UES Manse at a Loss". Observer. Retrieved 2016-11-11.
  15. Morgan Halberg. "The Mnuchins Finally Say Farewell to a Limestone…At a Loss". Observer. Retrieved 2016-11-11.
  16. "Jeff Koons' Rabbit sculpture breaks record for living artist". BBC. 2019-05-16. Retrieved 2019-05-16.
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