They’re not bidding millions, but they are keeping the art market vibrant. As ultra-wealthy collectors pull back on buying art, the gap is being filled by a different kind of buyer – albeit one with shallower pockets. In 2024, while global art sales fell 12 percent, transactions under US$50,000 continued to rise, according to the
Sequoia invests in Kela to “leverage Israel’s unique cadre of techno warriors to help defend the Western world order,” as per its own website. The statement further read that “money invested in Mubi by Sequoia is inseparable from profits generated by the illegal dispossession of Palestinian land and the genocide of Palestinians.” According to The
Government has pledged £2bn in research and development funding for its AI action plan as part of its Spending Review, announced today (11 June), in one of several measures that will impact the cultural and creative industries. The financing, announced by Chancellor Rachel Reeves, will be used to expand the UK’s AI Research Resource capacity,
A top-ranking executive at Australian Retirement Trust, the nation’s second-biggest pension fund, has resigned after a months-long absence from the company’s offices, sparking a further shake-up of its management team. Julie Bingham was the $310 billion fund’s chief enterprise services officer, in charge of its policy, government relations and legal capabilities. She had been at
TATE LIVERPOOL have announced major public and private investment towards the reimagining of the landmark gallery on Royal Albert Dock. This included £12m of funding from the DCMS’s Public Bodies Infrastructure Fund as well as generous philanthropic donations from the Garfield Weston Foundation, and The Ross Warburton Charitable Trust. The redevelopment of Tate Liverpool will
In 2024, nearly $7.7 billion less was spent on art than the year before, that’s a 12% drop in global sales, according to the latest Art Basel and UBS Art Market Report. Despite this, the overall number of transactions increased by 3%. So activity and appetite haven’t fallen, but increased. Spending is down, yes, but
Photo by Meta AI Art has always been about creativity, passion and personal expression. But did you know that it can also be a valuable investment? While the world of art can seem daunting, it presents unique opportunities for capital appreciation and diversification within your investment portfolio. Whether you’re an avid collector or a curious
Beowolff Capital Management Ltd, an investment company founded by ex-Goldman Sachs partner Andrew Wolff, has acquired 65% of the shares in the online data company Artnet. The investment company already owns a majority stake in Artsy and aims to create a “portfolio of market-leading companies to enhance scale and drive collaboration and profitability,” according to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Who is the butt of the joke here? Sotheby’s just sold a banana stuck to the wall with duct tape entitled “Comedian”. Cryptocurrency entrepreneur Justin Sun bought the artwork by Maurizio Cattelan for $6.2mn including
US President Donald Trump is back from his Middle East trip; his first major overseas visit after assuming office in his second tenure. The visit resulted in commitments of more than $2 trillion of investment from the oil-rich Gulf Arab states. Yet a question is making the rounds: Would all those commitments materialise, especially in