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ADQ, Sotheby: Abu Dhabi Wealth Fund and Patrick Drahi Invest $1bn in Sotheby’s

ADQ, an Abu Dhabi-based investment powerhouse, has entered into a definitive agreement to acquire a minority stake in Sotheby’s, the iconic global art and luxury leader.

Sotheby's is a British-founded multinational corporation with headquarters in New York City. PHOTO: Shutterstock
Sotheby’s is a British-founded multinational corporation with headquarters in New York City. PHOTO: Shutterstock

This strategic move involves a substantial $1 billion investment, structured as an issuance of new capital, with additional funds coming from Patrick Drahi, who retains his majority ownership after his 2019 acquisition of Sotheby’s.

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