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Abu Dhabi Is Buying A Stake In Sotheby's

August 12, 2024
x min read
Abu Dhabi Is Buying A Stake In Sotheby's

Sotheby's is one of the most prestigious auction companies in existence. And now, Abu Dhabi is their newest partner.

What’s happening:

  • Abu Dhabi’s wealth fund ADQ is purchasing a minority ownership stake in iconic auction house Sotheby's

Why it matters:

Going deeper:

  • Sotheby’s owner Patrick Drahi will also commit new funding to Sotheby’s alongside of Abu Dhabi’s wealth fund ADQ recent infusion of capital
  • Saudi Arabia has also been making a flurry of new venture capital bets recently, going after everything from electric vehicles to quantum computers

The intrigue:

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