Just how much money is sloshing around among the world’s richest art collectors? Three New York auction houses have sold a record $2.7 billion worth of art since May 5. Christie’s recorded the first-ever $1 billion-plus week, which included the sale of a Picasso for almost $180 million to an anonymous buyer.
The 10 billionaires with the most valuable art collections tracked by the Bloomberg Billionaires Index include French luxury products billionaire François Pinault, as well as U.S. financiers Ronald Perelman and Steve Cohen.
The top 10 control a combined $157 billion in assets, and their fortunes are up $20 billion in 2015. They also have collections valued at more than $14 billion, as well as about $15 billion in cash and other liquid assets, so there’s plenty of money left to continue fueling the surge in art prices.