It’s good to have alumni like billionaire investment banker Herbert Allen, Jr.Allen’s family donated one of Claude Monet’s “Water Lilies” painting to his alma mater, the Hackley School in Tarrytown, N.Y.
The school turned around and sold the 1905 painting for $43.8 million at auction last night, according to The Wall Street Journal.
The Monet sold at Christie’s to an anonymous American collector.
The Allens are big art collectors, and the walls of Allen & Co.’s headquarters are filled with American impressionist art, the only type Herb Allen could afford when he was just starting out, according to Fortune.
Tuition at the Hackley School is $37,200 for high school day students. Surprisingly it is not one of the 50 most expensive prep schools in America.
Disclosure: Allen & Co. is an investor in Business Insider.
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