Michael Bloomberg Gives $75M to Shed Arts Center

The ambitious new arts center known as the Shed, rising in Hudson Yards, has received $75 million from Michael R. Bloomberg, showing just how much the Far West Side continues to be shaped by a small group of influential billionaires.

They include Stephen M. Ross, the chairman of Related Companies, and Barry Diller, the media mogul. Bloomberg on Wednesday added $60 million to a $15 million contribution he had made to the Shed in 2012, which was previously undisclosed.

“I’ve always believed the arts have a unique ability to benefit cities by attracting creative individuals of every kind, strengthening communities, and driving economic growth,” Bloomberg said in a prepared statement. “The Shed will help New York achieve all three goals.”