ken griffin global recession iran strait of hormuz 1234781281

Billionaire hedge fund manager and prominent art collector Kenneth C. Griffin has issued a stark warning regarding the global economy, stating that a recession is inevitable if the Strait of Hormuz remains closed through the end of the year. Speaking at the Semafor World Economy summit, Griffin highlighted that the closure of this vital oil passageway has created energy shocks and treacherous conditions for central bankers, potentially forcing further interest rate hikes to combat inflation.

Jasper Johns Keeps Looking

Jasper Johns’s latest exhibition at Gagosian, 'Between the Clock and the Bed,' serves as a profound meditation on the artist's career-long investigation into the 'things the mind already knows.' By revisiting his signature motifs—including flags, targets, and crosshatch patterns—the show highlights Johns’s rejection of Abstract Expressionist spontaneity in favor of a deliberate, analytical process using encaustic and collage. The works document a transformation where familiar symbols are rendered into a complex visual language that bridges the gap between memory and physical presence.

Philadelphia Is Rich With Museums and Galleries. ‘Elsewhere’ Aims to Find Out If It Can Support an Art Fair

Philadelphia gallerist Megan Galardi is launching a new art fair called Elsewhere, set to debut June 4–6 at the Yowie Hotel on South Street. The fair will feature 27 exhibitors from cities including London, New York, and Philadelphia, with seven local dealers such as Fleisher/Ollman, Blah Blah Gallery, and Fjord. Galardi, who founded Blah Blah Gallery in 2023 and has participated in small New York fairs like Spring/Break and Future Fair, designed Elsewhere as a boutique, hotel-based event that offers a lower-cost, more intimate alternative to large-scale art fairs.

The Turner Prize Has Revealed Its 2026 Nominees—and Already Courted Controversy

The Turner Prize has announced its 2026 nominees: Simon Barclay, Kira Freije, Marguerite Humeau, and Tanoa Sasraku. The award, administered by Tate Britain, includes a £25,000 prize for the winner. For the first time, the nominees' exhibition will be held at Teesside University's Middlesbrough Institute of Modern Art, an academic setting. The selection has already drawn criticism for being tame and safe, with Guardian critic Eddy Frankel describing the prize as "timid" and "fearful." Tate Britain director Alex Farquharson defended the nominees, praising the diversity and sculptural focus of their work.

Saudis Renege on Met Opera Financial Aid, Berlin’s Culture Senator Resigns, and More: Morning Links for April 24, 2026

The Metropolitan Opera has announced that Saudi Arabia reneged on a noncommittal memorandum of understanding that would have provided up to $200 million over eight years to the cash-strapped New York institution. Met general manager Peter Gelb said the Saudis blamed the war in Iran and the blocked Strait of Hormuz, but funding had already failed to materialize before the conflict, prompting preemptive layoffs in January. Separately, Berlin culture senator Sarah Wedl-Wilson resigned after a state audit found she illegally authorized €2.6 million for 13 projects meant to combat antisemitism, violating budget regulations. Other news includes President Trump's plan to renovate the Lincoln Memorial reflecting pool, Ontario increasing support for the Art Gallery of Ontario and Royal Ontario Museum, Rome's new photography museum, and the appointment of Thiago de Paula Souza as curator of the eighth Athens Biennale.

Los Angeles County Museum of Art’s new David Geffen Galleries reframe 6,000 years of history

The Los Angeles County Museum of Art (LACMA) is preparing to open its new $720m David Geffen Galleries, a massive undulating concrete structure designed by Pritzker Prize-winning architect Peter Zumthor. Spanning Wilshire Boulevard, the new building adds 110,000 square feet of gallery space and 3.5 acres of public parkland, marking the completion of a two-decade capital project led by Director Michael Govan. The facility will house the museum’s permanent collection, which has been largely out of public view for seven years, and features innovative exhibition strategies such as hanging artworks directly onto concrete walls.

At the Menil Collection, Cy Twombly’s Drawing and Discovery

The Menil Collection in Houston is showcasing "The Gift of Drawing: Cy Twombly," an exhibition featuring 27 works selected from a massive donation of 121 pieces by the Cy Twombly Foundation. The show spans four decades of the artist's career, from the mid-1950s to 2005, highlighting his experimental approach to collage, painting on handmade paper, and drawing. Many of these works have never been previously exhibited in the United States, filling significant gaps in the museum's already extensive Twombly holdings.

Sonic investigations non-profit to be artist-in-residence at London's Gasworks

The non-profit organization Earshot, founded by artist Lawrence Abu Hamdan, has been awarded a three-year studio bursary at London's Gasworks. The bursary, backed by Spanish patron Mercedes Vilardell, provides an annual stipend and covers monthly rent for a studio space at the south London exhibition and residency space. Earshot uses sound in the defense of human and environmental rights, and the residency gives it a platform to operate independently after an incubation period with Forensic Architecture. Abu Hamdan and Earshot will also take over the Barbican Centre this autumn for an event titled Repercussions, featuring installations, performances, screenings, and live music.

The Iran War Is Already Tanking Luxury Sales in the Gulf—Could Art Be Next?

Escalating military conflict between the US, Israel, and Iran, which has included strikes on Gulf states, is disrupting the region's burgeoning art market. Major events like Art Dubai have been postponed and scaled back significantly due to exhibitor withdrawals, and planned fairs like Frieze Abu Dhabi face uncertainty. The instability has also caused a sharp spike in shipping and insurance costs for artworks moving through the region.

"Kultursenator ist kein Nebenjob"

Berlin's finance senator Stefan Evers is set to additionally take on the role of culture senator following the resignation of Sarah Wedl-Wilson, a move criticized as a stopgap solution that creates a conflict of interest between austerity and cultural advocacy. Meanwhile, the Venice Biennale faces multiple controversies: critics question how to evaluate curator Koyo Kouoh's posthumous main exhibition "In Minor Keys," completed after her death in May 2025; Israeli artist Belu-Simion Fainaru speaks out against his exclusion from the Biennale competition, calling it politically biased and reminiscent of historical persecution; and German press decries the politicization of the Biennale, particularly the exclusion of Israel and Russia from the competition.

Gladstone Gallery to Relocate in Seoul, Doubling Exhibition Space

Gladstone Gallery is relocating its Seoul location to the Hannam-dong neighborhood later this year, doubling its exhibition space. Designed by architect Minsuk Cho of Mass Studies, the new outpost will occupy two floors of the 739-28 Hannam Building, across from Pace Gallery and near the Leeum Museum of Art. The space is set to open in late summer ahead of Frieze Seoul in September, with a solo exhibition by Ed Atkins—his first in the city—inaugurating the gallery. Gladstone first opened in Seoul's Gangnam district in 2022, joining a wave of Western galleries entering the Korean market.

Art Basel’s ‘Basel Exclusive’ Initiative Asks Galleries to Withhold at Least One Work from PDF Previews, and Other News.

Art Basel is launching a new initiative called "Basel Exclusive" for its June 2026 Switzerland fair, asking exhibitors to withhold at least one key work from pre-fair digital PDF previews to encourage in-person viewing. Around 170 of 232 exhibitors, including major galleries like Gagosian, Hauser & Wirth, Pace, and David Zwirner, have already adopted the program. Separately, Tate Britain announced the 2026 Turner Prize shortlist featuring artists Simeon Barclay, Tanoa Sasraku, Kira Freije, and Marguerite Humeau, with the exhibition opening at Middlesbrough Institute of Modern Art (MIMA) in September. The Museum of Sonoma County will also commemorate the 50th anniversary of Christo and Jeanne-Claude's land art installation "Running Fence" with a major exhibition opening June 27.

epstein files leon black antiquities smuggler douglas latchford 2746922

Newly released documents from the Jeffrey Epstein files suggest a direct link between billionaire collector Leon Black and the disgraced late antiquities dealer Douglas Latchford. An inventory titled "Leon Black/ Narrows South East Asian Art Inventory" found in Epstein’s emails lists 12 Southeast Asian works purchased by Black for $23.85 million. Among these is a $7 million bronze Shiva that matches the description of a piece featured in Latchford’s 2004 book, raising significant questions about the provenance of Black's collection.

How I Shop with Michelle Ogundehin: ‘We grownups have enough stuff already’

Michelle Ogundehin, the former editor-in-chief of Elle Decoration and current head judge on BBC’s Interior Design Masters, shares her personal shopping philosophy and favorite sources for design and art supplies. The interview highlights her preference for tactile, high-quality essentials over mass consumerism, citing her love for artist-grade watercolor paper from L. Cornelissen & Son, vintage tapestries from Larusi, and curated items from Japan House London.

Trevor Paglen’s New Book Says AI Is Rewriting What Images Do

Artist Trevor Paglen has published a new book, *How to See Like a Machine: Images After AI*, which argues that generative AI and computer vision are fundamentally changing how images function in culture. Drawing on his decade-long practice, Paglen contends that images are no longer merely representations for human interpretation but have become operational tools—'activations' that trigger automated responses and shape reality. He cites examples such as surveillance cameras at grocery stores, the Samsara navigation system in trucks, and the ImageNet database to illustrate how machine vision systems normalize surveillance in service of capital, a phenomenon he terms 'machine realism.'

Collector Julia Stoschek Closes Down Berlin Exhibition Venue After 10 Years In Favor of International Projects

Julia Stoschek, a leading art collector and ARTnews Top 200 figure, is closing her Berlin exhibition venue after a decade of operation. The 3,000-square-meter space in the former Czech Cultural Center, which opened in 2016, will shut at the end of October 2026, having hosted 22 exhibitions and attracted 450,000 visitors. The Stoschek Foundation will maintain its Düsseldorf venue, while Stoschek shifts focus to international projects, such as the recent Los Angeles exhibition “What a Wonderful World: An Audiovisual Poem,” curated by Udo Kittelmann.

Prominent German Art Foundation Accuses Top Culture Official of ‘Attempted Intimidation’

Jurors from the Kunstfonds Foundation, a major German contemporary art funding body, have accused Minister of State for Culture Wolfram Weimer of attempted intimidation and political interference. The conflict erupted after Weimer requested the names of the independent jury members, a move the foundation views as a threat to artistic freedom. This follows a separate controversy where Weimer reportedly consulted domestic intelligence to exclude bookstores with left-wing leanings from a national award.

The great Anselm Kiefer arrives in Valencia for an exhibition. There is a rare work for the first time in Europe

Il grande Anselm Kiefer arriva in mostra a Valencia. C’è un’opera rara per la prima volta in Europa

German artist Anselm Kiefer is coming to Valencia for the first time, inaugurating the temporary exhibition program at the CAHH – Centro de Arte Hortensia Herrero. The show, curated by Javier Molins, will run from April 29 to October 25 at the Palacio de Valeriola, featuring Kiefer's works in dialogue with the permanent collection. A highlight is "Danaë," a monumental painting over 13 meters wide that depicts the interior of Berlin's Tempelhof airport and references the myth of Danaë; this work has only been shown once before, in New York in 2022, and is now on view in Europe for the first time.

How Art Firms Are—or Should Be—Using A.I. Right Now

Art firms are increasingly experimenting with artificial intelligence, but concrete use cases remain limited and industry-specific tools are still in their infancy. A new partnership between Bonhams and tech company ARTDAI aims to apply AI to market analytics, valuation, and specialist research, while companies like Artsy and Artnet are integrating AI capabilities into their platforms. Industry experts, including former Art Basel chief Marc Spiegler, note that the art market's small size has historically discouraged tech development, but AI now makes high-performance tools accessible to smaller businesses.

Has a new Banksy statue just appeared in central London?

A new statue has appeared on Waterloo Place in central London, bearing the signature of elusive street artist Banksy. The artwork depicts a suited man carrying a large flag that covers his face, stepping off a plinth, and blends with nearby bronze and granite monuments. Sightings were first reported on Wednesday 29 April, but how and when the statue was erected in this busy intersection remains unknown. Banksy has not yet posted the work on his Instagram account, his usual method of authentication, though crowds have already gathered.

V&A faces calls to become living wage employer on eve of Stratford opening

The Victoria and Albert Museum is facing intense pressure to become an accredited living wage employer just as it prepares to open its high-profile V&A East site in Stratford. A petition coordinated by Organise and Citizens UK has garnered over 21,000 signatures, calling on Director Tristram Hunt to ensure all staff and contractors receive the London living wage of £14.80 per hour. While the museum meets legal minimum wage requirements, campaigners argue that as a publicly funded institution, it must provide a wage that reflects the actual cost of living in the capital.

Venice Golden Lion jury won’t consider Russian and Israeli pavilions

The jury for the Golden and Silver Lion awards at the 61st Venice Biennale has announced it will not consider the national pavilions of any country whose leaders are currently charged with crimes against humanity by the International Criminal Court. This decision specifically excludes Russia, whose president Vladimir Putin is charged with unlawful deportation of Ukrainian children, and Israel, whose prime minister Benjamin Netanyahu is charged with targeting Palestinian civilians and using starvation as a weapon. The jury, presided over by Solange Oliveira Farkas and including Zoe Butt, Elvira Dyangani Ose, Marta Kuzma, and Giovanna Zapperi, issued a full statement explaining their commitment to human rights and alignment with the curatorial vision of the late Koyo Kouoh.

Riyadh Art Extends Its Citywide Permanent Collection

Riyadh Art, a public art initiative led by the Royal Commission for Riyadh City, is expanding its Permanent Collection with 115 new installations planned through 2026 and beyond, adding to the 75 works already installed across the Saudi capital. The collection includes works by international artists such as Alexander Calder, Anish Kapoor, Jeff Koons, Giuseppe Penone, and Ugo Rondinone, alongside Saudi practitioners like Zaman Jassim and Mohammed Al Saleem, with recent additions including Calder's 'Janey Waney' and Nobuo Sekine's 'Phase of Nothingness'.

Inside the Inaugural Edition of Art Cologne Palma Mallorca

The inaugural edition of Art Cologne Palma Mallorca took place from April 9–12, 2026, attracting 88 galleries from 20 countries and over 10,000 visitors to the Mediterranean island. The fair, held at the Palau de Congressos Convention Centre, reported strong sales and sold-out weekend days, with Artistic Director Daniel Hug praising the high level of engagement and positive response from both exhibitors and attendees. A second edition has already been scheduled for April 1–4, 2027.

Art Fund launches UK-wide touring programme

Art Fund has launched a UK-wide touring programme called Going Places, backed by £5.36 million from the National Lottery Heritage Fund and the Julia Rausing Trust. The first exhibition, *Making Her Mark: A Celebration of Women in Art*, opened at Penlee House Gallery & Museum in Penzance, featuring over 60 works from three museum collections alongside community responses. It will travel to Worcester City Art Gallery & Museum and Kirkcaldy Gallery through 2027. The programme plans 12 major touring shows over five years, with six already scheduled, including exhibitions on green spaces, journeys, radical living, art and nature, and community making.

The National Gallery of Art Embraces New Role as Lending Library, Thanks to a Big Gift That Sends Artwork to Other Museums

The National Gallery of Art in Washington, D.C., has received a $116 million donation from the Mitchell P. Rales Family Foundation to fund its 'Across the Nation' lending program. The gift, the largest programming-related donation in the museum's history, will support shipping, installation, and other costs associated with sending artworks on two-year loans to smaller regional museums across the United States, from Alaska to Florida.

Major News from International Museums: London's National Gallery Expands and Pompidou Opens in Seoul

Le grandi novità dei musei internazionali: cresce la National Gallery di Londra e il Pompidou apre a Seoul

The National Gallery in London has selected a design team led by Kengo Kuma and Associates, alongside BDP and MICA, to lead its massive £750 million expansion project titled 'Project Domani.' Chosen from 65 international entries, the winning proposal will transform the St Vincent House site into a new museum wing featuring a stepped Portland stone facade, public roof gardens, and light-filled galleries. The project coincides with the institution's bicentenary and has already secured half of its required funding through private and anonymous donations.

Heading for Brittany! 5 art galleries to visit in Rennes

Cap sur la Bretagne ! 5 galeries d’art à visiter à Rennes

Beaux Arts Magazine highlights five art galleries to visit in Rennes, France, a city already known for its Musée des Beaux-Arts, art centers 40mcube and La Criée, and a spectacular Frac designed by architect Odile Decq. The featured galleries include Oniris, which celebrates 40 years and the centenary of artist François Morellet in 2026; Jonathan Roze, a newcomer from Paris now located on Place du Parlement; Mica, a gallery in Saint-Grégoire run by former cabinetmaker Michaël Chéneau; and Divet, an even older gallery with a strong Breton identity.

What It Takes to Build the Venice Biennale

Three weeks before the Venice Biennale opens on May 5, the city remains a construction site, with the Giardini closed and parts of the Arsenale requiring special access. Artist Faustin Linyekula rehearses his performance *The Galeazze Project* in a 16th-century roofless complex, working with the existing gravel, natural light, and lagoon acoustics rather than imposing a structure. Geopolitical conflicts, supply chain disruptions, and the sudden resignation of the Biennale’s international jury via Instagram add pressure to the already challenging logistics of mounting the global exhibition.

US National Gallery of Art receives $116m gift to continue nationwide lending programme

The National Gallery of Art (NGA) in Washington, DC, has received a landmark $116 million donation from the Mitchell P. Rales Family Foundation to permanently endow its Across the Nation lending programme. Launched in spring 2025, the initiative has already reached around 900,000 visitors at ten partner institutions, including the Anchorage Museum and the Mint Museum, by loaning works from the NGA's collection at no cost—covering transport, installation, insurance, and marketing. The next cycle will run from autumn 2027 to 2029, with new partners to be announced.