The exhibition planned for November will be entirely financed by Russian billionaire Alisher Usmanov, the museum director said. "The exhibition is the most expensive in the museum's history, and would not be possible without a sponsor," Irina Antonova said.
Antonova declined to say how much the exhibition would cost, but it is believed to be high due to the insurance costs: "this is an unbelievable sum that is indecent to be voiced."
The Kremlin-friendly tycoon Usmanov also declined to discuss the cost, saying: "The main reason I help to organize cultural events is my passionate love of art."
The Turner exhibition, which is to open on November 17, will feature about 100 works, including 40 oil paintings, 70 watercolors and two prints. The works will include a "Self-Portrait" (1799), "The Battle of Trafalgar" (1806) and "Norham Castle, Sunrise" (1845).
Uzbek-born Usmanov, who co-owns major steel factories, heads a subsidiary of state-controlled energy giant Gazprom and has invested in media, telecoms, soccer clubs and banking, is Russia's 18th richest man according to Forbes magazine, with an estimated wealth of $5.5 billion.
In September, he paid over $72 million for the Russian art collection of deceased cellist Mstislav Rostropovich and his wife, soprano Galina Vishnevskaya. Usmanov donated the collection, which contained over 450 pieces from the 18-19th centuries, to the state.
The Rostropovich collection is due to go on display at the Constantine Palace near St. Petersburg in late March.
