Ownership of Wall Street's 'Charging Bull' Statue Remains Elusive
Despite its iconic status, the provenance and maintenance of the famous bronze bull are shrouded in mystery, with no single entity claiming definitive ownership.
The ownership of Wall Street's iconic "Charging Bull" statue, a popular tourist attraction for nearly four decades, is a subject of considerable ambiguity. Neither the city of New York nor the family of British billionaire investor Joe Lewis, who reportedly purchased it in 2004, claims definitive ownership of the 7,100-pound bronze sculpture.
Italian-American sculptor Arturo Di Modica illegally placed the statue outside the New York Stock Exchange just before Christmas in 1989, intending it as a symbol of American strength and determination following the 1987 stock market crash. The exchange swiftly had it removed, but it was eventually relocated to its current home in Bowling Green after Di Modica agreed to its placement.
Reports indicate that Di Modica sold the bull to Joe Lewis in 2004 under the condition that it would not be moved. However, representatives for Lewis's investment firm, Tavistock Group, have stated that while the family owns the original cast and reproduction rights, they do not own the bull currently displayed in Bowling Green. A spokesperson for Lewis's firm told The City Reporter that the family "does not own that bull."
The city's Parks Department also does not consider the statue part of its permanent public art collection and disclaims responsibility for its upkeep. The city did maintain the sculpture from 1999 to 2004 with Di Modica's permission and a charitable donation.
Di Modica copyrighted the work in 1998. After his death in 2021, the attorney for his estate informed The City Reporter that he did not know who currently owns the statue. Steven Hyman, who represented Di Modica in a past legal dispute, believed the sculptor held the copyright and had an informal agreement with the city regarding the bull's location.
The Downtown Alliance, a nonprofit managing the Lower Manhattan business improvement district, stated that its members clean the statue but acknowledged not knowing who technically owns it, and that no formal agreement is in place for its maintenance.
The "Charging Bull" lacks official landmark designation, and therefore does not possess the preservation protections afforded to other public monuments. The statue has been subjected to vandalism, including graffiti and damage from activists. Despite the unclear ownership, the bull remains a major tourist draw, with visitors from around the world seeking good fortune by rubbing its famously shiny rear.