• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politicsmuseums
Europe

Chicago’s Art Institute is fighting the return of an Egon Schiele painting to a Holocaust victim’s estate, saying it was legally acquired

By
The Associated Press
The Associated Press
Down Arrow Button Icon
By
The Associated Press
The Associated Press
Down Arrow Button Icon
January 20, 2024, 6:30 PM ET
Egon Schiele
This photo illustration created in Los Angeles, California, on September 13, 2023, shows a person looking on a computer screen at artwork by Austrian Expressionist Egon Schiele entitled "Russian War Prisoner" (L), "Portrait of a Man" (R) and "Girl With Black Hair" (top), which were seized by investigators after the Manhattan district attorney's office issued warrants.CHRIS DELMAS/AFP via Getty Images

New York prosecutors on Friday returned two pieces of art they say were stolen by Nazis from a Jewish performer and collector murdered in the Holocaust.

The artworks were surrendered by museums in Pittsburgh and Ohio, but prosecutors are still fighting in court to recover third artwork by the same artist, Austrian expressionist Egon Schiele, that was seized from a Chicago museum at the same time.

On Friday in Manhattan, the estate of Holocaust victim Fritz Grünbaum accepted “Portrait of a Man,” which was surrendered by the Carnegie Museum of Art and “Girl with Black Hair,” surrendered by the Allen Memorial Art Museum at Oberlin College. Prosecutors have collectively valued the two pieces at around $2.5 million.

Ten of Schiele’s works have now been returned to the family, but “Russian War Prisoner” remains at the Art Institute of Chicago, which maintains that it was legally acquired.

Grünbaum was the son of a Jewish art dealer and law school student who began performing in cabarets in Vienna in 1906. As the Nazis rose to power, he mocked them, once saying on a darkened stage, “I can’t see a thing, not a single thing; I must have stumbled into National Socialist culture.”

In 1938, he was captured by Nazi officials, who created a trail of paperwork. Manhattan prosecutors say they forced him to give power of attorney to his wife, and then forced her to sign away the art — including around 80 Schiele works — to Nazi officials. Some of the art was sold to fund the Nazi war effort, they say. Elizabeth and Fritz Grünbaum died in concentration camps.

Prosecutors say the works reappeared in 1956 in Switzerland, part of a shady art deal with members of the Nazi regime, that led to them being sold in New York galleries.

On Friday, one of Grünbaum’s heirs thanked leaders at Oberlin College and the Carnegie Institute, saying they “did the right thing.”

“This is a victory for justice, and the memory of a brave artist, art collector, and opponent of Fascism,” said Timothy Reif, Grünbaum’s great-grandnephew and a federal judge in New York City, in a statement released by the office of Manhattan District Attorney Alvin Bragg. “As the heirs of Fritz Grünbaum, we are gratified that this man who fought for what was right in his own time continues to make the world fairer.”

A New York judge ruled in 2018 that other two works by Schiele had to be turned over to Grünbaum’s heirs under the Holocaust Expropriated Recovery Act, passed by Congress.

In that case, art dealer Richard Nagy said he was the rightful owner of the works because Grünbaum’s sister-in-law had sold them after his death. But the judge in the case ruled that there was no evidence that Grünbaum had given them to her voluntarily, writing it was “a signature at gunpoint.”

The Art Institute of Chicago, however, disputes that. And it argues that “Russian War Prisoner,” a pencil and watercolor piece, was legally acquired.

“We have done extensive research on the provenance history of this work and are confident in our lawful ownership of the piece,” said Art Institute of Chicago spokesperson Megan Michienzi.

Michienzi pointed to a prior 2010 ruling from another federal judge that she said “explicitly ruled that the Grünbaum’s Schiele art collection was ‘not looted’ and ‘remained in the Grünbaum family’s possession’ and was sold by Fritz Grünbaum’s sister-in-law.”

Reif and his relatives had been fighting in a separate federal civil court case for the return of the work. The Art Institute of Chicago had the case thrown out in November on technical grounds, successfully arguing that, unlike the Nagy case, the family had missed a lawsuit deadline under the Holocaust Expropriated Recovery Act.

After that case was dismissed, Bragg’s office earlier this month asked a Manhattan court to authorize the return of the artwork.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Politics

U.S. allows Russia oil sales waiver to expire despite tight market
EnergyOil
U.S. allows Russia oil sales waiver to expire despite tight market
By Jennifer A. Dlouhy and BloombergMay 16, 2026
2 hours ago
U.S., Iran stall on Hormuz reopening as oil supplies tighten
PoliticsIran
U.S., Iran stall on Hormuz reopening as oil supplies tighten
By Skylar Woodhouse, Jeff Mason, Arsalan Shahla and BloombergMay 16, 2026
2 hours ago
Former top Russian official admits the country is over Putin and can ‘imagine a future without him’ — even elites bail as Kremlin seizes their assets 
PoliticsRussia
Former top Russian official admits the country is over Putin and can ‘imagine a future without him’ — even elites bail as Kremlin seizes their assets 
By Jason MaMay 16, 2026
3 hours ago
Trump’s IRS suit may end with a $1.7 billion compensation fund
PoliticsDonald Trump
Trump’s IRS suit may end with a $1.7 billion compensation fund
By Zoe Tillman, Chris Strohm, Hadriana Lowenkron and BloombergMay 16, 2026
5 hours ago
World’s largest aircraft carrier returns from 11-month deployment, longest since Vietnam, after supporting Iran war and Maduro raid
PoliticsMilitary
World’s largest aircraft carrier returns from 11-month deployment, longest since Vietnam, after supporting Iran war and Maduro raid
By The Associated PressMay 16, 2026
5 hours ago
Ray Dalio says China’s ascent ushers in era of ‘tribute system’
AsiaChina
Ray Dalio says China’s ascent ushers in era of ‘tribute system’
By David Westin, Edward Dufner and BloombergMay 16, 2026
6 hours ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
13 hours ago
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
3 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
4 days ago
Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
Future of Work
Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
By Jake AngeloMay 16, 2026
17 hours ago
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
Future of Work
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
By Jacqueline MunisMay 16, 2026
13 hours ago
Current price of oil as of May 15, 2026
Personal Finance
Current price of oil as of May 15, 2026
By Joseph HostetlerMay 15, 2026
2 days ago