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.

Paint Drippings: Art Industry News November 21

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The Philadelphia Museum of Art has appointed Daniel H. Weiss, former head of the Metropolitan Museum of Art, as its new director and CEO to provide stability following the controversial dismissal of Sasha Suda. The transition occurs amid a legal battle, with the museum filing court documents alleging Suda misappropriated funds and falsified records. Meanwhile, the auction market saw a historic moment at Sotheby’s, where Gustav Klimt’s 'Portrait of Elisabeth Lederer' sold for $236.4 million, setting a new record for the artist and becoming the most expensive Modern work ever sold at auction.

maurizio cattelan america gold toilet auction 2707156

Maurizio Cattelan's 18-karat gold toilet sculpture, *America* (2016), sold at Sotheby's New York for $12.1 million to Ripley's Believe It or Not!, the entertainment franchise known for oddities. The work, consigned by hedge-fund manager Steve Cohen, was auctioned from the Breuer Building and drew long viewing lines. Despite a playful bidding process led by auctioneer Phyllis Kao, the final price fell short of Cattelan's auction record of $17.2 million set by *Him* (2001) at Christie's in 2016.

aldrich museum decennial 2026 survey connecticut artists 1234769786

The Aldrich Contemporary Art Museum in Ridgefield, Connecticut, has announced a new recurring exhibition series called the Aldrich Decennial, which will take place every ten years. The inaugural edition, titled “I am what is around me,” runs from June 7, 2026, to January 10, 2027, and features 40 artists living and working in Connecticut who have not previously exhibited in the state. Organized by chief curator Amy Smith-Stewart and curatorial and publications manager Caitlin Monachino, the survey spans the museum’s entire campus and includes high-profile names such as Dominic Chambers, Tammy Nguyen, Em Rooney, Aki Sasamoto, and Julia Wachtel, with artists ranging in age from Lucy Sallick (born 1937) to Remy Sosa (born 1995).

California’s High Desert Is Rich With Natural and Artistic Beauty—All Amplified by a Budding Art Fair

The fifth annual High Desert Art Fair (HDAF) took place at the Pioneertown Motel in California's High Desert, featuring 20 galleries, nonprofits, studios, and publishers. Founded by Nicholas Fahey of Fahey/Klein Gallery and artist manager Candice Lawler, the fair leverages the area's existing artistic community and natural beauty to attract visitors from Los Angeles and beyond.

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.

Raphael Met Museum Retrospective Review

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The Metropolitan Museum of Art has launched "Raphael: Sublime Poetry," the first major retrospective of the Renaissance master ever staged in the United States. Curated by Carmen C. Bambach, the exhibition features 237 works, including rare loans of drawings and monumental tapestries that have not left Madrid since the 16th century. While some of his most famous paintings remain in Europe, the show provides an exhaustive look at the artist's development from a teenage prodigy to a papal favorite.

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The San Francisco Museum of Modern Art (SFMOMA) has announced a new exhibition titled “RM x SFMOMA,” featuring around 200 works from both the museum’s permanent collection and the personal collection of K-pop star RM, a member of BTS. RM will serve as lead curator, alongside assistant curator Hyoeun Kim and curatorial project manager América Castillo. The exhibition, running from October 2026 to February 2027, will pair Korean artists—including historical figures like Yun Hyong-keun, Park Rehyun, Chang Ucchin, and Kwon Okyon, as well as contemporary artists such as To Sangbong and Kim Yun Shin—with Western masters like Mark Rothko, Agnes Martin, Henri Matisse, Georgia O’Keeffe, and Paul Klee. A key highlight is Kim Whanki’s 26-I-70 (1979), owned by SFMOMA.

Damien Hirst offers his hot take on art dealers

On a recent podcast, artist Damien Hirst identified his manager, Joe Hage, as the most influential person he's met, praising his work with other major artists. Hirst also downplayed the role of major galleries like Gagosian and White Cube, comparing them to 'estate agents,' and revealed a new private commission: an amethyst-encrusted grotto for the Getty family.

suzanne landau step down as director israel museum 1234768721

Suzanne Landau, 80, will step down as director of the Israel Museum in Jerusalem, having informed staff at the museum’s end-of-year party. She has served as director since September 2023, initially as acting director after Denis Weil resigned amid board disagreements. The museum’s search for a new CEO is in advanced stages, and Landau will assist during a transition period. Her tenure included the installation of Anselm Kiefer’s "Ages of the World" and a restructuring that saw Dganit Sanker-Lange appointed deputy director.

banksys walled off hotel in bethlehem reopens for the first time since october 7 attacks 1234766810

Banksy's Walled Off Hotel in Bethlehem has reopened for the first time since the October 7 attacks on Israel and the subsequent war in Gaza. The hotel, which opened in 2017 across from the West Bank barrier, functions as a guesthouse, museum, art gallery, bookstore, and spray-paint shop, with nearly every window facing the 30-foot-high concrete wall. Manager Wisam Salsaa described the reopening as a symbol of hope and a cultural platform carrying the narrative of Palestine, featuring more than 20 original Banksy works and accommodation ranging from $70 bunk beds to a $495 presidential suite.

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A high-profile fundraising campaign led by the Art Fund is underway to save Prospect Cottage, the former home of artist and filmmaker Derek Jarman. Supported by figures like Tilda Swinton and Jeremy Deller, the initiative seeks to raise £3.5 million to preserve the site and its archive for public tours and artist residencies. Meanwhile, the Philadelphia Museum of Art's CEO, Timothy Rub, has issued an apology regarding the institution's handling of sexual harassment allegations against former manager Joshua Helmer.

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The Metropolitan Opera is considering selling its two iconic Marc Chagall murals, 'The Sources of Music' and 'The Triumph of Music,' which have been appraised at $55 million. The institution's general manager, Peter Gelb, has proposed a sale with the condition that the buyer agrees to leave the works in place at Lincoln Center, with a donation plaque.

Artists, clowns, runaways: a stay at the Chelsea Hotel – in pictures

Photographer Albert Scopin has released a new book through Kerber Verlag documenting his residency at New York’s iconic Chelsea Hotel between 1969 and 1971. The collection features rare, intimate portraits of the hotel's legendary inhabitants, including a young Patti Smith and Robert Mapplethorpe before their rise to global fame, alongside long-time manager Stanley Bard and avant-garde figures like Vali Myers and Holly Woodlawn. Scopin’s lens captures the 'creative chaos' of the era, from the art-filled lobby to the eccentric private quarters of residents like composer George Kleinsinger.

‘I rely heavily on instinct’: entertainment mogul Hassan Smith on the art he collects and why

Entertainment executive and art collector Hassan Smith, manager to John Legend and advisory board member for the Atlanta Art Fair, shared insights into his collecting philosophy ahead of Frieze Los Angeles. His extensive collection spans art history from Rembrandt and Picasso to contemporary Black masters like Sam Gilliam, Rashid Johnson, and Deborah Roberts. Smith recently added a large-scale painting by Patrick Eugène to his holdings, noting that he relies on a mix of instinct and professional networking to make quick acquisition decisions.

top architecture firm accused of illegally firing union supporting staff founding editor of artforum dies morning link for january 20 2025 1234770173

The National Labor Relations Board has accused Snøhetta, a prominent New York-based architecture firm, of illegally firing eight employees who supported a 2023 unionization campaign. The NLRB complaint alleges that managers tracked union supporters and improperly questioned staff about their sympathies, while Snøhetta denies the claims, attributing layoffs to business pressures predating the union drive. Separately, Singapore Art Week is spotlighting women artists from Southeast Asia, with the launch of Krystina Lyon's book "You Are Seen" and the National Gallery Singapore exhibition "Fear No Power: Women Imagining Otherwise." Other news includes the death of Artforum founding editor Philip Leider at 96, LANZA chosen for the Serpentine Pavilion, and a Louvre heist caught on newly released footage.

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The Philadelphia Art Museum has appointed Daniel Weiss, former CEO of the Metropolitan Museum of Art, as its new director, effective December 1. Weiss takes over amid a legal battle with recently ousted director Sasha Suda, who filed a wrongful-termination lawsuit after her November 4 dismissal. The museum has escalated its defense, alleging Suda misappropriated funds prior to her firing. Weiss, who previously restored fiscal stability at the Met, is expected to guide the institution through this tumultuous period, which also includes backlash over a controversial rebrand.

Kyle Stephan finds in art the power to activate people

Kyle Stephan has been appointed the new Steven and Lisa Munster Tananbaum Curator of Modern and Contemporary Art at The Block Museum at Northwestern University. A curator, scholar, and educator with expertise in global contemporary art, time-based media, and interdisciplinary practice, Stephan was inspired to pursue curatorial work after witnessing art's power to activate people and communities while working as a studio manager for artist Lynn Hershman Leeson in the 1990s San Francisco Bay Area. She holds a Ph.D. in art and art history from Stanford University and previously curated the first U.S. survey of Fluxus artist Wolf Vostell at Harvard Art Museums.

BTS leader RM to unveil personal art collection at San Francisco Museum of Modern Art

RM, the leader of K-pop group BTS, will present his personal art collection at the San Francisco Museum of Modern Art (SFMOMA) in an exhibition titled "RM x SFMOMA," running from October 3 to February 7. The show features around 200 works from RM’s collection and SFMOMA’s holdings, many never before shown in the US, and is co-curated by RM, SFMOMA curatorial project manager America Castillo, and assistant curator Kim Hyo-eun. Key Korean artists in RM’s collection include Yun Hyong-keun, Park Rehyun, Kwon Ok-yon, Kim Yun-shin, To Sang-bong, and Chang Ucchin, while SFMOMA contributes works by Kim Whan-ki, Mark Rothko, Agnes Martin, Henri Matisse, Georgia O’Keeffe, and Paul Klee.

video data bank downsizing school art institute chicago 1234761928

The School of the Art Institute of Chicago (SAIC) laid off three of five staff members at the Video Data Bank (VDB), a renowned video art distribution organization, on November 12. Former director Tom Colley announced the dismissals of digital collection manager Elise Schierbeek and distribution assistant Nicky Ni, and stated that acquisitions and programming would cease. SAIC cited financial pressures from federal policy changes and enrollment declines, insisting the VDB is not closing but needs adjusted staffing to protect its teaching mission. The VDB, founded in 1976 and approaching its 50th anniversary, holds works by major artists including Nam June Paik, Pipilotti Rist, and Bruce Nauman, and has historically received NEA funding.

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London-based gallerist and advisor Varvara Roza has established a unique business model that merges commercial representation with strategic artist development and collector education. Drawing from her background as a second-generation collector, Roza’s eponymous gallery focuses on mid-career and established international artists, prioritizing long-term career sustainability over short-term market trends. Her approach emphasizes a dual perspective, acting as both a mediator of cultural value and a strategic manager for her roster.

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Jean-Michel Basquiat's 1983 painting *Onion Gum*, priced at $21.5 million, was one of the most expensive works for sale at the 23rd edition of Art Basel Miami Beach. The large square canvas, featuring a white head and handwritten text, has a long market history: it sold for $7.36 million at Sotheby's in 2012 to hedge fund manager Daniel Sundheim, then failed to meet its estimate at auction in 2016, fetching $6.6 million. Since 2017, Van de Weghe Gallery has used the work as collateral for bank loans, showing it at multiple Art Basel fairs with prices rising from $16.5 million in 2018 to the current $21.5 million.

Ruth Leon recommends… Raphael: Sublime Poetry – Metropolitan Museum of Art

The Metropolitan Museum of Art has opened its major spring exhibition, "Raphael: Sublime Poetry," the first comprehensive survey of the artist in the United States. Curator Carmen Bambach, exhibition design manager Daniel Kershaw, and research associate Caroline Elenowitz-Hess guide a virtual tour of the show, which brings together over 170 masterpieces and rarely seen works spanning Raphael's career from Urbino to Florence and Rome.

Brandywine Museum of Art Collaborates with Maine Museums to Highlight Overlooked Wyeth Designer

The Brandywine Museum of Art is partnering with the Colby College Museum of Art and the Farnsworth Art Museum to launch a major exhibition series titled “By Design: The Worlds of Betsy James Wyeth.” Opening in June 2026, the multi-venue showcase highlights the creative legacy of Betsy James Wyeth, who was a prolific landscape designer, architectural restorer, and interior designer. The exhibition will feature archival materials and physical design elements that illustrate her profound influence on the environments that served as the primary subjects for her husband, Andrew Wyeth.

Two Maine museums will explore influence of a lesser-known Wyeth

The Farnsworth Art Museum, Colby College Museum of Art, and Brandywine Museum of Art are launching a collaborative exhibition titled "By Design: The Worlds of Betsy James Wyeth." This landmark show is the first to focus exclusively on the creative legacy of Betsy James Wyeth, the wife of Andrew Wyeth, highlighting her work as a designer of immersive environments and her role in restoring historic properties like the Olson House and Brinton’s Mill. The exhibitions will feature Andrew Wyeth’s paintings alongside Betsy’s archival materials, maps, and collected objects.

Banksy’s Bethlehem hotel, closed following 7 October attacks, reopens as ‘cultural platform that carries the narrative of Palestine’

Banksy's Walled Off Hotel in Bethlehem, which closed after the Hamas attacks on October 7, 2023, and the subsequent Israel-Hamas war, has reopened. The hotel, originally launched in 2017, faces the West Bank barrier and was designed to bring tourism to the area while exposing guests to life under the wall. Manager Wisam Salsaa says the hotel now serves as a cultural platform amplifying Palestinian voices, with over 20 original Banksy works still on display. Room prices range from $70 for a bunkbed to $495 for the presidential suite.

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San Francisco is considering destroying the Brutalist Vaillancourt Fountain by Armand Vaillancourt as part of a redevelopment plan for Embarcadero Plaza. City officials, including Recreation and Park Commission general manager Phil Ginsburg, have discussed the redevelopment for over a decade, and the San Francisco Arts Commission is preparing to vote on deaccessioning the fountain. The fountain, completed in 1971, has been fenced off since June 2024 due to safety concerns and has not had running water since then, with repairs estimated at $28.9 million.

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Swiss voters overwhelmingly rejected a proposed inheritance tax on Sunday, with 78% voting no. The tax, introduced by the Social Democrats, would have applied a 50% rate to inheritances and gifts exceeding 50 million Swiss francs (about $62.3 million). Billionaire Peter Spuhler threatened to leave the country if the tax passed, and Swiss wealth managers warned that other ultra-wealthy individuals would follow, citing their mobility and options to optimize taxes.

Artist with links to Banksy now working from new studio in north Norfolk

Arthur Buxton, a master printer who previously worked with Banksy's former manager Steve Lazarides and has produced prints for artists including Sir Peter Blake, has relocated from Bristol to the village of Corpusty in north Norfolk. There, he has established his own printmaking workshop and studio, describing the move as a dream come true. An exhibition of his recent prints, titled "Slugs and Snails and Puppy Dog Tails," is currently on view at the Allen Hall Gallery in Glandford until January 18, exploring themes of dreams, nightmares, and fantasies.

Directors Chosen by Internal Call Rather Than Competition: The Great Restoration of State Museums

Direttori scelti per interpello e non per concorso. La grande restaurazione dei musei statali

The Italian state museum system is undergoing a significant reversal of the landmark 2015 Franceschini reforms, which originally opened director positions to international competition and private-sector expertise. Recent appointments at major institutions like the Reggia di Caserta and the Gallerie dell’Accademia in Venice indicate a shift away from global searches toward internal ministerial assignments, effectively turning museum leadership back into a closed bureaucratic career path.