Damien Hirst Net Worth Skyrockets in 2023 – Must-See!

Damien Hirst is one of the most controversial and successful artists of our time, but how much is he really worth? The British artist, who rose to fame in the 1990s as part of the Young British Artists (YBAs) movement, has created some of the most provocative and innovative artworks in history, such as sharks, cows, and sheep preserved in formaldehyde, diamond-encrusted skulls, and paintings made by spinning or dripping paint.

His art has been exhibited in prestigious museums and galleries around the world and has fetched record-breaking prices at auctions and private sales. He is widely regarded as the world’s richest living artist, with a net worth estimated to be around $320 million as of 2023.

But how did Damien Hirst make his fortune from his art? And how does he spend his money on his lavish lifestyle, philanthropic causes, and controversial ventures? In this article, we will explore Damien Hirst net worth, how he made his money from his art sales, art collection, and business ventures, and how he spends his money on his properties, cars, yachts, jets, charities, and controversies. We will also look at some of the factors that influence his net worth, such as the demand for his art, the fluctuation of the art market, and his legal and tax issues.

How much is Damien Hirst Net Worth?

Damien Hirst’s net worth is estimated to be around $320 million as of 2023, according to Finance Crave. This makes him one of the wealthiest artists in the world, surpassing other famous names such as David Hockney ($200 million), Jeff Koons ($200 million), and Anish Kapoor ($150 million). He is also considered to be The World’s Richest Living Artist by Forbes and The Most Expensive Living Artist by ArtNet.

However, Damien Hirst’s net worth is not fixed or stable, as it depends on various factors that can change over time. Some of these factors are:

• The demand for his art: Damien Hirst’s art is highly sought-after by collectors, museums, and investors, who are willing to pay millions of dollars for his unique and controversial creations. His art sales have reached record-breaking levels, such as the $100 million he earned from selling his diamond skull For the Love of God in 2007, or the $200 million he earned from selling his entire collection at Sotheby’s in 2008.
• The fluctuation of the art market: Damien Hirst’s art is also subject to the ups and downs of the art market, which can affect his net worth positively or negatively. For example, his art prices soared in the mid-2000s, when the art market was booming, but declined in the late 2000s and early 2010s, when the art market was hit by the global financial crisis and the emergence of new trends and tastes.
• His business ventures: Damien Hirst has also diversified his income by investing in various businesses related to art and culture, such as Other Criteria (his publishing and merchandising company), Pharmacy2 (his restaurant), and Newport Street Gallery (his exhibition space). These businesses can generate additional revenue for him, but they can also incur costs and risks, such as legal disputes, financial losses, and public criticism.

How Did Damien Hirst Make His Money?

Art Sales

Damien Hirst sells his art through various channels, such as galleries, auctions, and direct sales. He has collaborated with some of the most influential and powerful galleries in the world, such as White Cube, Gagosian, and Hauser & Wirth.

He has also participated in some of the most prestigious and lucrative auctions in the world, such as Christie’s, Sotheby’s, and Phillips. He has also sold his art directly to collectors and buyers, such as Steve Cohen, Victor Pinchuk, and Sheikh Hamad bin Khalifa Al Thani.

Damien Hirst’s art is known for its shock value, originality, and craftsmanship. Some of his most famous and expensive artworks are:

• The Physical Impossibility of Death in the Mind of Someone Living: A 14-foot tiger shark preserved in formaldehyde in a glass tank. It was sold to Steve Cohen for $12 million in 2004.
• For the Love of God: A platinum cast of a human skull encrusted with 8,601 diamonds. It was sold to a consortium of investors for $100 million in 2007.
• The Golden Calf: A calf with 18-carat gold horns and hooves preserved in formaldehyde in a gold-plated glass tank. It was sold for $18.6 million at Sotheby’s in 2008.

Damien Hirst has broken several records with his art sales, such as:

• The highest price for a single work by a living artist: $100 million for For the Love of God in 2007.
• The highest total for a one-artist auction: $200 million for Beautiful Inside My Head Forever at Sotheby’s in 2008.
• The highest price for a painting by a living artist: $34.2 million for Lullaby Spring at Sotheby’s in 2007.

Art Collection

Damien Hirst collects art from other artists, both contemporary and historical. He has amassed a vast and diverse collection of artworks, ranging from paintings, sculptures, prints, photographs, and installations. He has also acquired some rare and valuable pieces, such as Leonardo da Vinci’s anatomical drawings, Pablo Picasso’s ceramics, and Andy Warhol’s electric chairs.

Damien Hirst collects art from various artists, such as:

• Francis Bacon: One of Damien Hirst’s biggest influences and inspirations. He owns several paintings by the Irish-born British painter, such as Study for a Pope I and Study from the Human Body.
• Andy Warhol: One of Damien Hirst’s favorite artists and mentors. He owns hundreds of works by the American pop artist, such as Marilyn Monroe prints, Campbell’s Soup Cans paintings, and Death and Disaster series.
• Banksy: One of Damien Hirst’s friends and rivals. He owns several works by the anonymous British street artist, such as Keep It Spotless (a collaboration with Hirst), Bombing Middle England, and Girl with Balloon.

Damien Hirst benefits from collecting art in various ways, such as:

• Inspiration: Damien Hirst gets inspired by the works of other artists, especially those who share his vision and style. He often pays homage to or references them in his own artworks.
• Investment: Damien Hirst invests in art as a way of preserving and increasing his wealth. He buys artworks that have high potential or value in the art market and sells them when the price is right.
• Tax relief: Damien Hirst enjoys tax relief by donating or lending some of his artworks to public institutions or charities. He also avoids paying inheritance tax by transferring some of his artworks to his children.

Business Ventures

Damien Hirst has diversified his income by investing in various businesses related to art and culture. He has founded or co-founded several companies that produce or promote his own or other artists’ works. He has also opened or supported several venues that showcase or sell his own or other artists’ works.

Damien Hirst’s business ventures include:

• Other Criteria: A publishing and merchandising company that produces books, prints, clothing, jewelry, and accessories related to Damien Hirst’s or other artists’ works. It was founded by Damien Hirst in 2005 with Hugh Allan and Frank Dunphy.
• Pharmacy2: A restaurant that serves modern British cuisine with an artistic twist. It is located inside Damien Hirst’s Newport Street Gallery in London. It was opened by Damien Hirst in 2016 with Mark Hix.
• Newport Street Gallery: An exhibition space that displays Damien Hirst’s personal art collection to the public for free. It is located in a former theater scenery workshop in London. It was opened by Damien Hirst in 2015 with Caruso St John Architects.

Damien Hirst faces some challenges with his business ventures, such as:

• Legal disputes: Damien Hirst has been involved in several legal disputes with his business partners, suppliers, and competitors. For example, he sued Gagosian Gallery for breach of contract in 2012, he was sued by a wallpaper company for trademark infringement in 2013, and he was sued by a jewelry designer for plagiarism in 2014.
• Financial losses: Damien Hirst has suffered some financial losses with his business ventures, especially during the economic downturn or the pandemic. For example, he closed his restaurant Pharmacy in 2003, he laid off some of his staff in 2009, and he reduced his art production in 2020.
• Public criticism: Damien Hirst has faced some public criticism for his business ventures, especially from the art critics or the media. For example, he was accused of being greedy, arrogant, or hypocritical for selling his art or merchandise at high prices, or for exploiting animals or workers for his art or businesses.

How Does Damien Hirst Spend His Money?

Lifestyle

Damien Hirst lives a lavish lifestyle that reflects his wealth and fame. He owns several properties around the world, such as a farmhouse in Devon, a mansion in London, a villa in Los Angeles, and a castle in Gloucestershire.

He also owns a fleet of luxury cars, such as a Rolls-Royce Phantom, a Lamborghini Aventador, and a Ferrari F40. He also owns a yacht named The Kingdom and a private jet named The Butterfly.

Damien Hirst also enjoys socializing with celebrities and influential people from various fields, such as music, fashion, and politics. He has been friends or acquaintances with stars such as Madonna, Bono, and Kate Moss.

He has also attended or hosted some of the most glamorous and exclusive events and parties, such as the Oscars, the Met Gala, and the Venice Biennale.

Philanthropy

Damien Hirst is also a generous philanthropist who supports various causes and charities that are close to his heart or align with his values. He has donated or raised millions of dollars for organizations such as Kids Company (a charity that helps vulnerable children in London), RED (a campaign that fights AIDS in Africa), and War Child (a charity that protects children in conflict zones).

Damien Hirst has also used his art as a tool for philanthropy, by creating or donating artworks for charity auctions or collaborations. For example, he created a giant sculpture of Mickey Mouse for RED, which was sold for $1.5 million in 2016. He also donated a spot painting for War Child, which was sold for $1.7 million in 2013. He also collaborated with Alexander McQueen for Fashion for Relief, which raised $4.5 million in 2014.

Damien Hirst has received some awards and recognition for his philanthropy, such as the Montblanc de la Culture Arts Patronage Award in 2010 and the GQ Man of the Year Award in 2012.

Controversy

Damien Hirst is also a controversial figure who often faces criticism and controversy for his actions and opinions. He has been accused of plagiarism, animal cruelty, tax evasion, and other offenses by various critics, activists, authorities, and media outlets.

Damien Hirst has been involved in several controversies, such as:

• Plagiarism accusations: Damien Hirst has been accused of copying or stealing ideas from other artists, such as John LeKay, Charles Ray, and Colleen Wolstenholme. He has also been sued by some artists, such as Joe Fig and Robert Dixon.
• Animal rights protests: Damien Hirst has been protested by animal rights groups, such as PETA and Animal Liberation Front, for using dead animals in his artworks. He has also been criticized by some veterinarians and biologists, such as Andrew Knight and Marc Bekoff.
• Tax evasion allegations: Damien Hirst has been alleged to have avoided paying taxes by using offshore companies or trusts to manage his finances. He has also been investigated by the HM Revenue & Customs for possible tax fraud in 2012.

Damien Hirst has given some responses to his critics, such as:

• Defending his artistic vision: Damien Hirst has defended his artworks as expressions of his creativity and originality. He has also argued that his artworks are not meant to offend or harm anyone or anything but to challenge or inspire the viewers.
• Apologizing for his mistakes: Damien Hirst has apologized for some of his mistakes or errors, such as using the wrong title for one of his paintings or mislabeling one of his butterflies.
• Ignoring them altogether: Damien Hirst has ignored some of his critics or controversies, saying that he does not care what they think or say about him or his art. He has also said that he does not read or watch the news or reviews about him or his art.

Conclusion

Damien Hirst is one of the most controversial and successful artists of our time, who has amassed a huge fortune from his art and business ventures. His net worth is estimated to be around $300 million as of 2023, making him one of the wealthiest artists in the world. He made his money from selling his art, collecting art from other artists, and investing in various businesses related to art and culture. He spends his money on living a luxurious lifestyle, supporting various charities, and dealing with various controversies.

In this article, we have explored Damien Hirst’s net worth, how he made his money, and how he spends his money. We have also looked at some of the factors that influence his net worth, such as the demand for his art, the fluctuation of the art market, and his legal and tax issues. We have also seen some of the examples of his artworks, collections, businesses, properties, cars, yachts, jets, donations, auctions, collaborations, and controversies.

What do you think of Damien Hirst’s net worth, art, and lifestyle? Do you admire him or criticize him? Do you like his artworks or hate them? Do you agree with his actions or opinions or not? Share your thoughts with us in the comments section below or on social media. We would love to hear from you!

Frequently Asked Questions

Who is Damien Hirst married to?

Damien Hirst is not married, but he has been in a relationship with Sophie Cannell, a former ballerina, since 2018. He was previously engaged to Maia Norman, a fashion designer, from 1992 to 2012. He has three sons: Connor, Cassius, and Cyrus.

How many paintings has Damien Hirst sold?

Damien Hirst has sold thousands of paintings throughout his career, both through galleries and auctions. According to Artprice, he has sold 3,598 paintings at auction since 1989, with a total turnover of $1.1 billion.

What is Damien Hirst famous for?

Damien Hirst is famous for being one of the leading figures of the Young British Artists (YBAs) movement in the 1990s. He is known for his provocative and innovative artworks that often feature dead animals preserved in formaldehyde, such as sharks, cows, and sheep. He is also known for his spin paintings, spot paintings, and butterfly paintings.

Why is Damien Hirst so rich?

Damien Hirst is rich because he has been able to create a high demand for his art and sell it at high prices. He has also been able to diversify his income by collecting art from other artists and investing in various businesses related to art and culture.

This post Damien Hirst Net Worth Skyrockets in 2023 – Must-See! was originally published at Finance Crave