Rauschenberg Trustees Seeking $60 Million in Fees

Before Robert Rauschenberg’sdeath in 2008, the inventive artist appointed three good friends and businessassociates as trustees.  These three menwere tasked with administering his over $600 million estate as well as protecting thewelfare of the Robert Rauschenberg Foundation.

The trustees now seek atleast $60 million in fees, which an expert hired by the artist’s charitablefoundation believes would amount to a $40,000-an-hour wage.  To date, the three trustees have paidthemselves a combined $5.7 million in fees and received $3.9 million for workthey have done as consultants for Rauschenberg’s business. 

The trustees admit they havenot kept records of their work.  However,they believe $60 million or more would be “reasonable” for all the trouble theyhave been through for the trusteeship.

SeePatricia Cohen, Foundation Fights Feesfor Artist’s Trustees, The New York Times, Aug. 21, 2013.

Special thanks to Joel Dobris (Professorof Law, UC Davis School of Law) for bringing this article to my attention.