Secrets Of The Top 10 Most Influential Billionaires And Dealers Who Dominate The Art World

In May 2022, Andy Warhol's iconic "Shot Sage Blue Marilyn" sold for $195 million, making it the most expensive 20th-century artwork sold at auction. 

Renowned art dealer Larry Gagosian bought the work on behalf of an anonymous owner. Speculation about the owner turned toward billionaires, including Gagosian's clients such as film studio executive David Geffen, private equity investor Leon Black, hedge fund manager Steve Cohen and Estee Lauder Cos. heir Leonard Lauder. Despite the massive price tag, many speculated that Warhol's work might fetch more than $300 million. Given the extraordinary cost, it's no surprise that billionaires dominate the art world. 

Read Next:

• Johnny Depp’s Lesser-Known Talent Rakes in $3.6 Million in Just a Few Hours And It Could Make You Rich Too
• Paul Allen’s Personal Art Collection Sold For $1.6 Billion – Why Other Tech Billionaires Invest In This Asset Too

Here are 10 of the top billionaires and other notable collectors and dealers who shape the art world:

10. Roman Abramovich and Dasha Zhukova

Billionaire Russian oligarch Roman Abramovich, renowned for his business dealings and former ownership of Chelsea Football Club, is also a notable art aficionado. He and his partner Dasha Zhukova are pivotal players in the art world. Despite his checkered past and controversial relationship with Vladimir Putin, Abramovich uses his wealth and connections to build a massive art collection that spans contemporary artists and iconic masters.

9. Daniel Turriani

Italian collector and businessman Daniel Turriani brings a unique blend of heritage and passion to the art world. With a rich family background in art, he has made a name for himself as a private art dealer and curator. Turriani's passion for collecting and promoting art makes him one of the more respected dealers in the industry.

8. Charles Saatchi

Charles Saatchi, a visionary in the advertising industry as the founder of Saatchi & Saatchi, transitioned seamlessly into the art realm. He established the Saatchi Gallery in London, a public gallery and nonprofit institution that encourages young artists and a broader appreciation for contemporary art. 

7. Bernard Arnault

Bernard Arnault, the driving force behind luxury brand powerhouse LVMH Moet Hennessy Louis Vuitton, owns a massive art collection. As of Aug. 3, Arnault is the second-richest person in the world, following Tesla Inc. CEO Elon Musk. Fluctuations in the stock market put Arnault at No. 1 on the list at various times. With a $218 billion fortune, Arnault can comfortably purchase any works. 

LVMH and Arnault also operate The Louis Vuitton Foundation, a French museum and cultural center designed by architect Frank Gehry. 

6. Steve Cohen

Steve Cohen is an American hedge fund manager and controlling owner of the New York Mets. He's also a billionaire art collector who holds pieces worth in excess of $1 billion, including works from Jeff Koons and Pablo Picasso held in many of his offices around the globe. Cohen also supports studios for new artists. 

5. Francois Pinault

Francois Pinault, an astute entrepreneur and art patron, shapes both the business and art worlds. He runs the French luxury corporation Kering which operates brands such as  Balenciaga, Bottega Veneta, Gucci, Alexander McQueen and Yves Saint Laurent. His position puts him in competition with Arnault, both in the luxury goods space and as a renowned art collector. 

With an impressive collection housed in the Palazzo Grassi, Pinault boasts a massive collection of artworks from multiple eras. 

4. Philip Niarchos

Philip Niarchos' inheritance of a vast fortune and an already substantial art collection established him as a notable figure in the art world. With a net worth of approximately $2.8 billion as of Aug. 3, Niarchos owns works by Vincent Van Gogh, Paul Gauguin, Picasso and other notable artists..

3. Eli Broad and Edythe Broad

Eli Broad's philanthropy and entrepreneurial spirits blended with his appreciation for fine art. His partnership with his wife, Edythe, led to the creation of a world-class collection called The Broad Art Foundation, which encourages accessibility to art. Edythe Broad continues to hold a collection worth an estimated $2 billion. Eli Broad died in 2021.

2. David Geffen

David Geffen's journey from a college dropout to a media mogul highlights his unconventional rise. He holds a massive and influential collection featuring works by noted artists like Jasper Johns, Willem de Kooning and Jackson Pollock. Geffen's charitable endeavors include a $150 million donation to the Los Angeles County Museum of Art (LACMA), a premier gallery featuring one of the largest collections in the world. 

1. Ezra and David Nahmad

Ezra and David Nahmad, two Lebanese billionaire brothers, boast what many consider is the most expensive art collection in the world. The Nahmads' prolific collection, stored in a secure Geneva warehouse, boasts an estimated market value of $3.5 billion. 

>> Fine art investing isn't a multi-millionaire exclusive anymore. You can partially own curated pieces worth tens of millions today. Click here to explore Benzinga's selection.