In 1932, the National Gallery of British Art was renamed the Tate Gallery in tribute to the sugar magnate Henry Tate, who helped lay the foundations of the institution 40 years earlier with a considerable donation of artworks and funding.
The move marked a trend that continues to dominate the arts world, with a slew of institutions paying homage to corporate sponsors – from Sage Gateshead to the National Gallery’s Sainsbury Wing and the National Theatre’s Dorfman theatre.