Posts Tagged ‘Art’

The Starving Artist

Friday, February 3rd, 2012
The announcement this week that Facebook is going to become a publicly traded company has brought to light some interesting stories. You have the normal “spotlight”attention on the owner, which in this case is a 27 year-old named Mark Zuckerberg who will be worth $28 billion, give or take. Sure that will make him one of the richest people in the United States, heck the world for that matter.

But what about David Choe? Have you ever heard that name? He’s a graffiti artist. A guy who has had run-ins with the law and other rough spots during his life. So how did this particular artist accomplish all of his financial planning,”investment planning, wealth planning, legacy planning and philanthropy in one fell swope? Dumb luck, tha’s how. In 2005 Mr. Choe  was asked by the President of Facebook to paint murals on the walls of the company’s offices. Choe was given a choice 1. Take thousands of dollars in cash or 2. Take some stock of the privately held company. Well, he took the stock (even though he thought what the company did was “ridiculous and pointless”).

David Choe working on one of his murals

So, when Facebook goes public this spring, David Choe’s stock is estimated to be worth $200,000,000. That’s right, two-hundred-million-dollars!

Gaffiti painting….might not be such an eye-sore after all.

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Fine Art & High Finance – this week on Your Financial Editor

Thursday, April 8th, 2010
Chris Murray

Monet…and your money.  This week on Your Financial Editor, Chris Murray will be talking with Dr. Clare McAndrew, author of Fine Art and High Finance.  Tune in as they explore the unique aspects of investing in the $65 billion dollar business of fine art and collectibles.  Saturday morning at 8 on AM 930 WFMD, or listen from anywhere at www.wfmd.com.

About this week’s guest:

Dr. McAndrew founded Arts Economics in 2005.  Dr. McAndrew is a cultural economist, investment analyst and published author.  She completed her PhD in Economics at Trinity College Dublin in 2001, where she also lectured and taught economics for four years.  She then led a number of research projects for the Arts Council of the UK, publishing studies on the effects of regulation, taxation and other issues in the visual arts markets.

In 2002, Dr. McAndrew became the chief economist for the  U.S. firm, Kusin & Company, a boutique investment banking firm specializing in art investment.  After three years in the U.S., she returned to Europe in 2005 to continue her work in the art market as a private consultant for a global client base.  Dr. McAndrew founded Arts Economics to focus her efforts on art market research and analysis, and works with a network of private consultants and academic researchers in providing research and consulting services to the global art trade and financial sector.

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