Highlights
- The world's wealthiest art collectors have amassed billions of dollars worth of valuable art, setting trends and records with their world-famous collections and fortunes.
- These collectors, such as Carlos Slim and Bernard Arnault, have extensive personal collections featuring works by renowned artists like Picasso, Van Gogh, and Jeff Koons.
- Many of these collectors have made significant contributions to the art world through supporting public institutions, funding museums and exhibitions, and shaping the contemporary art scene.
For centuries, the art world has had a symbiotic relationship with fame and fortune, with billionaire collectors bidding hundreds of millions of dollars for famous works of art. Only an elite handful of individuals with massive wealth have accumulated some of the world's most valuable private art collections.
Their valuable pieces, running into the billions of dollars, include oil paintings and art objects of great cultural value. They, indeed, are the crème de la crème of today's art collecting and patronage; they set trends and records with their world-famous collections and fortunes.
Join us as we go through the ten wealthiest art collectors on Earth, with their estimated net worths, notable collections, and most expensive acquisitions.
RelatedBillionaire Harry Macklowe And Wife Linda Auction Their $676 Million Art Collection Post Divorce
Couples usually have a feud over dividing their million-dollar belongings after a divorce, even their art collection.10 Sheikh Hamad bin Jassim bin Al Thani: $2 Billion
Sheikh Hamad bin Jassim bin Al Thani, a member of Qatar's royal family (with a net worth of $2 billion), formerly served as the country's prime minister. He is a well-known collector of contemporary Middle Eastern art, buying works to promote the local artistic scene.
Paul Guiragossian, Farhad Moshiri, and Hassan Hajjaj, three members of the current generation of young Arab artists, have pieces featured in his collection.
9 Charles Saatchi: $2 Billion
Charles Saatchi amassed a net worth of $2 billion through the ad agency Saatchi & Saatchi, which he co-founded. Best known for discovering young British artists in the 1990s, Saatchi controversially sensationalized their works, catapulting artists like Damien Hirst and Tracey Emin to fame.
Once numbering over 200 works, Saatchi's collection was donated to the British public and is now housed in the Saatchi Gallery in London, which he founded to showcase contemporary art.
8 Philip Niarchos: $3.4 Billion
Inheriting and expanding the family's already immense fortune, Philip Niarchos is now a Greek shipping heir with a net worth of $3.4 billion. The son of two of the city's most prominent art patrons, he has an extensive personal collection of significant European paintings from the 19th and 20th centuries by artists such as Van Gogh, Picasso, and Monet.
Niarchos bought his first piece of art in the 1950s, but continues to add to his collection through significant purchases to this day. In addition to his generous gifts of art to public institutions, Niarchos has been extremely active in supporting private and public museums.
7 Steven A. Cohen: $6.2 Billion
Through the success of his thriving hedge firm, Point 72 Asset Management, billionaire business executive Steven A. Cohen has acquired a staggering $6.2 billion net worth. With the help of his fortune, he buys pricey pieces by Pop, Surrealist, and Abstract Expressionist painters for his prestigious art collection.
Cohen broke all previous records when he paid $155 million for Picasso's Le Rêve. Additionally, he has conceptual and minimalist pieces that he displays at Sotheby's exhibitions.
6 David Geffen: $6.2 Billion
David Geffen has a prestigious art collection focusing on Abstract Expressionists, thanks to his enormous $6.5 billion net worth derived from entertainment endeavors. It features works by artists (such as Jackson Pollock, Jasper Johns, and Willem de Kooning) which are highly valued.
Geffen has played a significant role in shaping the Los Angeles contemporary art scene. He gave $150 million to the Museum of Contemporary Art in Los Angeles in 1995.
RelatedJane Fonda To Make Thousands From Auctioning Personal Art Collection
The actress is selling 14 rare Dial pieces that she collected over the decades.5 Eli Broad: $6.9 Billion
American entrepreneur Eli Broad leveraged his self-made fortune of $6.9 billion (through his founding of KB Home and SunAmerica) to advance his passions for philanthropy and art collecting. Broad is renowned for his world-class contemporary art collection, spanning over 2,000 works, which he shares with the public through The Broad Museum in Los Angeles.
The Broad collection includes iconic works by influential contemporary artists such as Cindy Sherman, Jeff Koons, Andy Warhol, Jean-Michel Basquiat, and Jasper Johns. Notable pieces include Balloon Dog by Jeff Koons and Tulips by Jeff Koons, for which Broad spent $33.6 million.
Broad has been integral in shaping the contemporary art world through collecting and philanthropic initiatives, including funding art-focused university programs. With his wife Edythe, he demonstrated proactive and early support for artists who later became art market superstars.
The Broads have pledged their collection will continue to benefit the public good.
4 Roman Abramovich: $15 Billion
As a Russian oligarch with an estimated $15 billion net worth, Abramovich acquired his vast fortune through steel and mining operations. He was the previous owner of Chelsea Football Club and had an elite art collection featuring works by prominent modern masters such as Francis Bacon, Lucian Freud, and Marc Chagall.
In 2008, Abramovich paid a record $86.3 million for Freud's Benefits Supervisor Sleeping – demonstrating his willingness to pay top dollar for significant works.
3 Francois Pinault: $42.3 Billion
French billionaire Francois Pinault derived his immense $42.3 billion fortune from founding and running the luxury retail group Kering. This wealth has enabled Pinault to amass an unparalleled personal art collection spanning eras and movements.
His collection of over 5,000 works includes high-value contemporary pieces by artists like Jeff Koons, Damien Hirst, Cindy Sherman, and Cy Twombly. To house his world-class collection, Pinault funded the opening of two contemporary art museums in Venice – the Punta della Dogana and the Palazzo Grassi.
Pinault's holdings also include a majority stake in auction giant Christie's. Pinault has used his wealth and influence to cement his legacy as a preeminent art collector and patron.
2 Carlos Slim: $61.4 Billion
Mexican business magnate Carlos Slim is worth an incredible $61.4 billion and is one of the wealthiest individuals on the planet. In the course of building his fortune, Slim created one of the most valuable assortments of over 66,000 pieces of Mexican and European art which span centuries of art historical tradition.
Among his many acquisitions are essential pieces from the world's best artists, such as Diego Rivera, Rufino Tamayo, Frida Kahlo, Auguste Rodin, Pierre-Auguste Renoir, and more. To share this with the public, Slim built The Soumaya Museum in Mexico City, a stunning, eye-catching building with an extensive collection from Slim's collection.
As Slim proceeds to buy up top pieces, he reveals his desire to own one of the highest-profile collections around the globe. He became one of Mexico's most prominent art patrons through it.
RelatedRuth Bader Ginsburg’s Personal Art Collection To Be Auctioned Off
With works from artists like Picasso and Warhol, the auction is set to raise hundreds of thousands of dollars.1 Bernard Arnault: $157 Billion
French business magnate Bernard Arnault has an estimated net worth of $157 billion as CEO of luxury conglomerate LVMH. His illustrious art collection includes important modernist and contemporary works valued at hundreds of millions.
Arnault collects blue-chip artists like Picasso, Yves Klein, and Henry Moore. As a prominent art patron, he founded the Louis Vuitton Foundation, a Frank Gehry-designed contemporary art museum in Paris.
ncG1vNJzZmivp6x7tbTEq6CcoJWowW%2BvzqZmraCVYq%2BquMuipqeZmaeytHnCpaybZaSdsm7Dzqujnatdp7aktMSsq2aZoql6pLvLpZycrJ%2BnwHA%3D