George Osborne Personally Brokered British Museum Tapestry Deal

British Museum chair George Osborne approved negotiations with billionaire Igor Tulchinsky over his sponsorship of the Bayeux Tapestry exhibition less than 90 minutes after receiving an internal due diligence report containing a section headed ‘Key Due Diligence Flags’, newly released emails show.

The correspondence, obtained under Freedom of Information (FOI) legislation and published by the campaign group Culture Unstained, also reveals that Osborne personally introduced Tulchinsky to the museum.

The billionaire hedge fund manager has since become the tapestry's most prominent benefactors, reportedly contributing £5 million towards its exhibition in London, despite scrutiny of his financial links to Israeli military technology and settlements in the occupied West Bank.

In October 2025, internal emails show that Charlotte Appleyard, Director of Development at the British Museum, sought Osborne’s approval to proceed with negotiations, sharing an internal assessment that included a section titled ‘Key Due Diligence Flags’. Osborne responded within 90 minutes, writing simply that he was ‘happy to proceed’.

Due Diligence Flags

In response to the FOI request, the museum redacted the contents of the ‘Key Due Diligence Flags’ section before releasing the documents, leaving the nature of any concerns identified in its assessment unknown. The released correspondence does not establish whether the findings were shared with the museum’s other trustees, leaving unanswered questions about the extent of the board’s oversight.

The following month, on 24 November, Appleyard informed Osborne that Tulchinsky had agreed to sponsor the exhibition. ‘Really good news and thank you so much for the introduction,’ she wrote.

The correspondence places Osborne at both ends of the sponsorship process: first introducing Tulchinsky to the museum, then approving negotiations over his donation. It raises questions about the separation between fundraising and oversight at an institution increasingly reliant on major private benefactors. While the documents establish Osborne’s involvement, they do not, on their own, demonstrate that the museum breached its sponsorship policies.

Financing Israeli Settlements?

Tulchinsky, the founder of quantitative investment firm WorldQuant, has faced criticism over reported links to Israeli defence technology and the reported financing of a community centre in an Israeli settlement in the occupied West Bank. Israeli settlements in the territory are considered illegal under international law, a position rejected by Israel.

Previous investigations by outlets including The Art Journal and Middle East Eye have examined Tulchinsky’s business interests and philanthropic activities, including connections to Israeli military technology companies. With the due diligence findings redacted, it is impossible to establish from the released documents whether those relationships were considered in the museum’s assessment of his proposed donation.

In a parliamentary answer on 13 October, culture minister Ian Murray confirmed that the government had made no assessment of reports that Tulchinsky financed a community centre in the Israeli settlement of Efrat. Responding to a question from Liberal Democrat MP Anna Sabine, Murray said that decisions about commercial and philanthropic donations were the responsibility of museum trustees, with the British Museum assessing contributions under its published Acceptance of Donations and Sponsorship Policy.

The Red Ball

The revelations come ahead of the British Museum’s Red Ball on Saturday, 17 October, at which Tulchinsky is listed as honorary chair. The fundraising event, held in the museum’s Great Court, will feature artistic direction by Es Devlin and a performance by Wyclef Jean, alongside private viewings of the Bayeux Tapestry.

Tulchinsky’s sponsorship has also brought considerable public recognition. He has appeared in promotional material for the exhibition, attended its high-profile opening and participated in an onstage discussion with Appleyard at the Art Business Conference. A portrait of the billionaire by Jonathan Yeo has also been displayed in connection with the exhibition. The museum has additionally named a space within its members’ facilities the ‘Igor Tulchinsky Room’.

Complete Overhaul

In light of the revelations, campaigners are calling for the museum to reconsider its relationship with Tulchinsky, citing the UK government’s increasingly critical position on Israeli settlements. In September, foreign secretary Ed Miliband announced measures targeting those involved in financing or facilitating illegal settlement activity in the West Bank, including proposals for further restrictions.

‘These documents suggest that Chair George Osborne is both able to broker relationships with morally bankrupt billionaires and then also approve their reputation-enhancing partnerships with the Museum, while other Trustees may know little about who they are getting into bed with,’ a spokesperson for Culture Unstained said. ‘The Museum’s approach to ethical sponsorship needs a complete overhaul.’

The controversy adds to mounting scrutiny of the British Museum’s relationships with private donors and corporate sponsors. Its ten-year, £50 million partnership with BP, announced in 2023, has attracted sustained criticism from environmental campaigners, while its previous relationship with tobacco company Japan Tobacco International also prompted objections.

The museum has separately faced criticism over its decision to host an Israeli embassy event in May 2025 and reported changes to references to Palestine in some of its displays.

The British Museum has been approached for comment.