New York Philharmonic Receives $40 Million Endowment Gift

In Tuesday’s (9/12) New York Times, Javier C. Hernández writes, “The New York Philharmonic has a sparkling home: the recently renovated David Geffen Hall at Lincoln Center. It has a charismatic new conductor … Gustavo Dudamel, who will take the podium in 2026. And now it will start its next chapter with a groundbreaking gift … a $40 million donation from the financier Oscar L. Tang, a co-chairman of its board, and his wife, Agnes Hsu‐Tang, an archaeologist and art historian, the largest contribution to the endowment in the ensemble’s 181-year history. The donation will be used to endow the Philharmonic’s music and artistic director chair starting in the 2025-26 season, when Dudamel, the 42-year-old leader of the Los Angeles Philharmonic, becomes music director designate. Gary Ginstling, who took over as the Philharmonic’s president and chief executive in July, described the gift as ‘visionary’ and said it would allow the ensemble to ‘reimagine what a 21st-century orchestra can be and ensure that the Philharmonic’s music-making will serve future generations.’… Tang … said he hoped the gift would help usher in a ‘new golden age’ … with a focus on music education and social change, as the Philharmonic works to connect with new audiences, especially young people and Black and Latino residents.”