Monday, August 4, 2014
Rauschenberg Foundation Weighing Options Following Ruling Awarding Trustees $24.6 Million
The Robert Rauschenberg Foundation is evaluating its legal options, following a Florida judge's decision to award $24.6 million to three trustees who had administered the late artist’s estate, Christopher Rauschenberg, president, said on Monday.
Chief Judge Jay B. Rosman, of the 20th Judicial Circuit, ruled on Friday that the three trustees, longtime friends and business associates of Rauschenberg, were entitled to the money based on evidence that they had done “an exemplary job” in managing the artist’s estate, which included his home and land in Florida, other assets and much art work, after his death in 2008.
In 2012, when Rauschenberg's assets were distributed to the foundation, they were valued at $2.2 billion, up from $605 million at the time of his death...