Wallis Annenberg, a philanthropist who served as board chairman, president and CEO of the Annenberg Foundation, has died at age 86, TheWrap has learned. She died at her home in L.A. on Monday morning from complications due to lung cancer, according to a statement from her family to the Los Angeles Times.

Wallis Annenberg, the philanthropist who backed the Wallis Annenberg Center for the Performing Arts in Beverly Hills, died Monday.