Madonna made a $3.8 million profit after she sold an art work titled “Three Women at the Red Table” by French artist Fernand Léger during a Sotheby’s auction in New York on Tuesday.
The singer had originally purchased the 1921 painting for $3.4 million in 1990 and sold it for $7.2 million Tuesday to a South American bidder, reports the Wall Street Journal.
And she’s donating 100% of the profits to her Ray of Light Foundation — supporting girls’ education projects in Afghanistan, Pakistan and other countries.
Before the auction, Madonna posed with the piece — which hung in her New York City apartment’s living room for decades — and instagrammed a photo with the caption: “At Sotheby’s next to my painting. Saying a Prayer for a generous collector Who loves Leger and the idea of empowering GIRLS! Thank you Sotheby’s. Thank you Pierre!”
“Thanks to everyone who helped make it happen!” Madonna wrote on her Facebook page after the auction.
Business Insider Emails & Alerts
Site highlights each day to your inbox.