Hedge Funds

Rachofsky hands over art to museum


The Dallas Museum of Art got a huge shot in the arm, thanks to a deluge of donations worth $400 million from a group of kindly Texans that included retired hedge fund magnate Howard Rachofsky. Hundreds of works from renowned artists, like Claude Monet and Mark Rothko, were among the gifts given to the museum. But perhaps the most remarkable gift came from Rachofsky, who donated his former home to the museum, a peculiar cube-shaped building that itself was converted into an exhibit hall in 1996, housing works of famous artists like Andy Warhol and Tony Oursler.