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Madonna's Painting Fetches $7.2M, Money Goes to Charity

May 08, 2013 06:42:28 GMT

The 1921 abstract painting by French artist Fernand Leger is sold at a New York auction with the proceeds to support girls' education.


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A painting owned by Madonna has been sold at Sotheby's auction in New York during an Impressionist and Modern Art sale. The art work by French artist Fernand Leger is bought for $7.2 million, exceeding the initial projection of $5-7 million.

The Material Girl will donate proceeds from the sale to charity. The money will go to the Ray of Light Foundation to fund an education project for girls in Afghanistan, Pakistan and other countries where education for females is rare.

"I cannot accept a world where women or girls are wounded, shot or killed for either going to school or teaching in girls' schools. We don't have time to be complacent," she said. "I want to trade something valuable for something invaluable - Educating Girls!"

The Cubist masterpiece was displayed in Hong Kong and London, and then was showcased at a special NY dinner last week before being put under the hammer Tuesday, May 7. Who purchased the painting from the singer hasn't been disclosed.

Madge bought the painting, "Trois Femmes a la Table Rouge (Three Women at the Red Table)", at an auction in 1990 for $3.4 million to add to her art collection. Leger created it in 1921 as part of a series depicting women with still-life compositions.

Aside from building schools for girls' education, the singer funded an educational project in Malawi where she adopted David Banda in 2006 and Mercy James in 2009. Unfortunately, her good intention was marred with mismanagement issue.

Madonna is not the only Hollywood star who is supporting girls' education outside the United States. Angelina Jolie and Oprah Winfrey have both done the same, building schools in Afghanistan and South Africa respectively. Angie is raising money from the sales of her jewelry line to support her project.

© AceShowbiz.com




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