(Credit: Fadi Kheir)

The New York Philharmonic has announced that Oscar L. Tang and Agnes Hsu-Tang have made a gift of $40 million to the organization.

The gift is meant to further expand the Orchestra’s future programming and engagement with New York’s diverse communities and the international music world. The gift marks the largest-ever single contribution to the NY Phil’s endowment and will establish The Oscar L. Tang and H.M. Agnes Hsu-Tang music and artistic director chair.

The chair will be endowed beginning in 2025 when Gustavo Dudamel becomes Music Director Designate before he takes over the position during the 2026–27 season.

In a statement, Gary Ginstling, Philharmonic president and CEO said, “Oscar and Agnes are visionary leaders, setting a new standard in empowering the arts and enriching New York City. Their extraordinary gift will help the NY Phil and Gustavo Dudamel reimagine what a 21st-century orchestra can be and ensure that the Philharmonic’s music-making will serve future generations. All of us at the New York Philharmonic are inspired by their belief in our aspirations.”

Tang has served as co-chairman of the New York Philharmonic Board of Directors, along with Peter W. May, since 2019. He and his wife, Agnes, have previously supported Philharmonic initiatives, including the launch of current music director Jaap van Zweden’s arrival with the New York Philharmonic, the Project 19 women’s commissioning initiative, and the renovation of David Geffen Hall.

The New York Philharmonic’s 2023-24 season recently opened with performances of “West Side Story.” The opening gala is set to be held on Sept. 27, 2023 with Yo-Yo Ma as the soloist.