Ron Perelman told a judge that five of his paintings totaling over $400 million in value lost their luster from a fire in his Hamptons home, at the trial of his lawsuit seeking to force his insurers to cover the cost.
Perelman says the artworks, which include paintings by Andy Warhol and Cy Twombly, were damaged in the 2018 fire. The 82-year-old, once considered America’s richest person, took the witness stand on Tuesday in the third week of the trial over his 2020 lawsuit against affiliates of Lloyd’s of London Ltd., Chubb Ltd. and American