NEW YORK (AP) — Cosmetics executive Leonard A. Lauder says he will give $131 million to the Whitney Museum of American Art, the largest donation in the New York institution's history.

Lauder, who is also the chairman of the 77-year-old museum, told the New York Times that $125 million will go toward the Whitney's endowment.

Lauder, 75, is the chairman of the Estee Lauder Companies. Forbes magazine reported his wealth at $3.2 billion in 2007.