A wealthy Manhattan couple have reached a divorce settlement, dividing up a collection of more than 1,000 artworks valued at over $676 million.
Vincent Viola and his wife’s agreement will see 400 pieces move from Vincent Viola’s collection to the Vincent Viola Foundation, a separate entity, as well as allow 100 of his works to move to the Morrell Jain Malibu Art Museum in Malibu, California. The couple will keep at least 150 pieces.
The main collection was established by the Vincent Viola Foundation after Vincent Viola purchased a painting by impressionist painter John Singer Sargent for $3.4 million in 1999. He worked for five years developing the foundation before liquidating pieces in November 2015.
Vincent Viola, who is the chief executive of the investment firm Virtu Financial, in a statement thanked his attorney Bruce Wasserstein for “working together with my wife Amber to find a fair and balanced agreement that will allow Amber to focus on her work as an artist.”