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The Solomon R. Guggenheim Museum of modern and contemporary art in New York. Photo: Tinnaporn Sathapornnanont/Getty Images

London’s National Portrait Gallery, British gallery group Tate and the Solomon R. Guggenheim Museum in New York have all said in the past week they will no longer accept financial donations from the Sackler family, which owns pharmaceutical company Purdue Pharma.

Why it matters: The fallout in the art world comes as the family faces numerous lawsuits and growing backlash over Purdue's connection to the opioid crisis. The family and company have made billions from the sale of highly addictive opioid painkillers that have helped fuel the country's opioid crisis, killing hundreds of thousands of people in the U.S.

Details: The National Portrait Gallery turned down a $1.3 million donation from Sackler Trust after both parties reached a mutual agreement Tuesday. The charitable arm of the Sackler family said in a statement: "The allegations against family members are vigorously denied, but to avoid being a distraction for the NPG, we have decided not to proceed at this time with the donation."

  • Tate, which runs some of the U.K.'s most prestigious art institutions, said Thursday that given the "present circumstances we do not think it right to seek or accept further donations," per BBC. It has reportedly received over $5 million from the family trusts over the past years.
  • The Guggenheim, meanwhile, didn’t mention the opioid crisis in its decision Friday, and the museum’s spokesperson declined to explain why the institution will no longer accept donations, per the New York Times. The family had reportedly donated $9 million to the museum between 1995 and 2015, which included $7 million to create the Sackler Center for Arts Education.

Go deeper: The N.Y. Times investigated the Sackler family's role in the opioid crisis.

Go deeper

Dion Rabouin, author of Markets
48 mins ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.

Ina Fried, author of Login
3 hours ago - Technology

CES was largely irrelevant this year

Illustration: Sarah Grillo/Axios

Forced online by the pandemic and overshadowed by the attack on the Capitol, the 2021 edition of CES was mostly an afterthought as media's attention focused elsewhere.

Why it matters: The consumer electronics trade show is the cornerstone event for the Consumer Technology Association and Las Vegas has been the traditional early-January gathering place for the tech industry.

The FBI is tracing a digital trail to Capitol rioters

Illustration: Sarah Grillo

Capitol rioters, eager to share proof of their efforts with other extremists online, have so far left a digital footprint of at least 140,000 images that is making it easier for federal law enforcement officials to capture and arrest them.

The big picture: Law enforcement's use of digital tracing isn't new, and has long been at the center of fierce battles over privacy and civil liberties. The Capitol siege is opening a fresh front in that debate.