International auction house Sotheby’s today (October 30th 2024) confirmed its investment of $1b from Abu Dhabi-based sovereign wealth fund ADQ. A statement from Charles F. Stewart, Chief Executive Officer, Sotheby’s, read: “We are delighted to announce that we’ve just closed our $1 billion investment from the Abu Dhabi-based sovereign wealth fund ADQ, who joins us as a minority shareholder alongside majority owner Patrick Drahi. “This represents the largest investment in the global art industry in...