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07.12.2012

Lynette Yiadom-Boakye Wins Future Generation Art Prize December 7th, 2012

At a ceremony held in Kiev, Ukraine, Lynette Yiadom-Boakye was announced winner of the Future Generation Art Prize, funded by Ukrainian collector Viktor Pinchuk’s foundation and worth $100,000. Yiadom-Boakye, born and working in London, was shortlisted for her portrait paintings of mainly black subjects, which through cultural context have taken on a political charge. Her work is urgent, sweeping, and dark. Yiadom-Boakye says each work takes her less than a day to complete, because “it’s about a certain kind of urgency and capturing that time frame.”

In addition to the Main Prize, a record five Special Prizes were awarded. Although in the past these awards were worth $20,000, during his speech at the awards ceremony Viktor Pinchuk announced that this amount would be increased because there are five recipients instead of the usual one. All the recipients were chosen by a distinguished jury, including Hans Ulrich Obrist, Co-director of the Serpentine Gallery in London, and Nancy Spector, Deputy Director and Chief Curator of the Solomon R. Guggenheim Foundation. The biennial $100,000 prize is given to an artist up to the age of 35 and includes $60,000 in cash and $40,000 toward the production of a new work. An additional $20,000 will fund an artist-in-residency program for up to five other artists. In 2010, the inaugural year for the Future Generation Art Prize, Brazilian artist Cinthia Marcelle was awarded the prize. The Future Generation Art Prize was established by the Victor Pinchuk Foundation to discover, recognize, and give long-term support to a future generation of artists.

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The Victor Pinchuk Foundation has purchased an anaesthetic machine worth UAH 1,680,000 for the Zaporizhzhya Regional Children's Hospital as part of the Ukraine Relief Fund, a joint charitable initiative established by Victor and Olena Pinchuk and the Victor Pinchuk Foundation, Eric and Wendy Schmidt and Schmidt Futures, Robert F. Smith and Vista Equity Partners, Andrew and Nicola Forrest's Minderoo Foundation, Bill Ford and the General Atlantic Foundation.

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Jeff Koons’ seminal sculpture Balloon Monkey (Magenta) (2006-13, estimate: £6,000,000-10,000,000) will be presented for sale at Christie’s by Victor and Olena Pinchuk to raise vital funds for humanitarian aid for Ukraine. In particular, the proceeds will be used to assist soldiers and civilians gravely wounded by war who urgently require prosthetics, medical treatment and rehabilitation to recover as much quality of life as possible.

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On May 25, 2022 in Davos (Switzerland), the Victor Pinchuk Foundation, and international investment advisory group EastOne, hosted the Ukrainian Breakfast Discussion, their traditional private event organized on the occasion of the Annual Meeting of the World Economic Forum (WEF). The discussion focused on what is at stake in Ukraine, and what international partners can do to support Kyiv amidst Russia’s war in Ukraine. Where is the war going, what steps must be taken now, and what is the strategic perspective for the future of Ukraine, Europe and the world?

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