|The First Art Newspaper on the Net
||Established in 1996
|| Friday, August 23, 2019
|Drahi, self-made French cable tycoon with rich taste in art|
Patrick Drahi, 55 years old, is a global entrepreneur with telecommunications, media and digital properties across the globe. Courtesy Sotheby's.
by Lucie Godeau / Julie Jammot
PARIS (AFP).- French billionaire Patrick Drahi, who is buying Sotheby's auction house, has kept a low profile despite his sweeping international business interests.
The father-of-four is an avid art collector, and "a longtime client and lifetime admirer" of Sotheby's, he admits.
France's ninth-richest man, whose fortune is estimated by Forbes magazine at $9.1 billion, has multiple citizenships -- French, Israeli and Portuguese -- and lives in Switzerland.
But unlike billionaire Francois Pinault, or fellow telecoms and media mogul Xavier Niel of Iliad, Drahi is not an instantly recognisable figure in France.
In a 2017 profile, French news magazine Obs cited him as lauding the virtues of discretion.
"If you want to be successful, work hard, have fun and above all, listen and do not talk too much," he was quoted as saying.
Drahi, 55, was born into a Jewish family living in the Moroccan city of Casablanca on August 20, 1963, the son of two maths teachers.
He moved to France at 15 and studied at went on to study at the country's top engineering school, the elite Ecole Polytechnique.
After graduating he immediately began work in fibre optics and cable, beginning his career with the Philips Group and then moving to a subsidiary of cable giant Liberty Global before striking out on his own.
After buying up several troubled cable and mobile operators he entered the big league in 2014 when he fought off rival Bouygues to buy France's second-biggest mobile phone operator SFR.
The following year he made his dramatic entry into the US market, snapping up cable company Suddenlink in a $9 billion deal in 2015, then Cablevision for $17.7 billion in 2016 and in April, the US financial video news start-up Cheddar.
Through the Netherlands-based Altice he also owns 75 percent of Numericable, France's largest cable operator, as well as the Liberation newspaper, BFM news channel and Israel's international i24 News network.
French unions have nicknamed him the "cost killer" but by 2017 his acquisitions had saddled Altice with around 50 billion euros in accumulated debt, sending its share price into freefall.
Promising to slow his expansion drive, Drahi returned that year as chairman of the board.
Drahi's appetite for artwork appears to match his fortune. French online art sales database ArtPrice lists him as the 252nd biggest art collector worldwide.
"He's a very secretive, elitist art collector... he is particularly fond of contemporary art," ArtPrice CEO Thierry Ehrmann told AFP, adding that Drahi had in his art collection some "fairly spectacular" works by the 20th century Belarussian-French artist Marc Chagall.
A source in Drahi's entourage said he had "encyclopedic knowledge of classical music and paintings particularly."
"He knows when they were painted and what museum they are in," the source told AFP.
Sotheby's CEO Tad Smith in a statement lauded Drahi's "commitment to innovation and ingenuity".
© Agence France-Presse
June 18, 2019
French billionaire Drahi acquires Sotheby's in $3.7 bn deal: auction house
Gun 'Van Gogh killed himself with' to go under hammer
Newly discovered photograph of Albert Einstein
Drahi, self-made French cable tycoon with rich taste in art
Louvre opens bookings for blockbuster Leonardo show in October
Sotheby's, grand old lady of auction houses, eclipsed by Christie's
The Musée du Louvre partners with HTC VIVE Arts for first virtual reality experience
School of Visual Arts donates nearly 100 iconic Subway Series works to newly opened Poster House Museum
Outstanding set of pier tables and glasses (mirrors) by Thomas Chippendale acquired for the nation
Heiress and legendary socialite, Gloria Vanderbilt dies at 95
Burt Reynolds' last custom owned 1979 Pontiac Trans Am sold for $317,500
Jung Ho Lee's first solo exhibit opens in New York
The 2019 edition of Art Basel attracted a truly global audience, catalyzing excellent sales at all levels
Exhibition revolves around the complex emotional relationship between humans and technology
The Michener Art Museum appoints Laura Turner Igoe as Curator of American Art
Italian crime writer Andrea Camilleri, 93, hospitalised
Successful conclusion: paper positions basel 2019
Thousands gather to pay homage to Italian director Zeffirelli
VOLTA Basel 2019: 15 electrifying years
Miller & Miller Auctions announces results of sale of art, antiques and clocks held June 8th
The personal collection of Moe Howard, founding member of The Three Stooges, to be auctioned
A reinterpretation of Hokusai and Dürer in new work based on Old Masters
Doyle to auction the Estate of Oleg Cassini on June 27
Shortlist announced for 2019 Film London Jarman Award
Guide to Buying Art Projector
Top 5 Fun & Creative Rakhi Gift Ideas for Your Artist Sister
10 Ways to Grow From 0 to 20k Followers on Instagram
A Look at the Artistry in the 2019 CFDA Awards
How to Choose the Best Magnetic Drill Press
Most Popular Last Seven Days
1.- Conservation reveals Wellington Collection work was painted by Titian's Workshop
2.- New dinosaur discovered after lying misidentified in university's vaults for over 30 years
3.- Unseen Texas Chainsaw Massacre outtakes and stills sold for a combined $26,880
4.- National gallery reveals conserved Italian altarpiece by Giovanni Martini da Udine
5.- London's Tate Modern evacuated after child falls, teen arrested
6.- Bavarian State Minister of the Arts restitutes nine works of art
7.- Boy thrown from London's Tate Modern is French tourist visiting UK
8.- Child thrown from London gallery has broken spine, legs and arm
9.- £10 million Turner masterpiece may leave British shores
10.- Tourists banned from sitting on Rome's Spanish Steps
Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .
|Royalville Communications, Inc|
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.