Jean-Michel Basquiat was a prolific artist whose works have been highly sought after by collectors and art enthusiasts around the world. His works have been sold for millions of dollars, and his influence on the art world is still widely felt today. But how much was he worth when he passed away in 1988? Estimating his net worth is no easy task, but it can be done by examining his numerous sources of wealth.
Estimating Jean-Michel Basquiat’s Net Worth
Estimating Jean-Michel Basquiat’s net worth is difficult because he had such a varied career. His works were sold for millions of dollars, and he was also a successful musician, actor, and writer. Additionally, he had a number of investments in businesses and real estate. All of these sources of income must be taken into account when estimating his net worth.
The most reliable way to estimate his net worth is to look at his art sales. Basquiat’s works have sold for millions of dollars at auction, and his works have been highly sought after by collectors. His painting, “Untitled”, sold for an astonishing $110.5 million in 2017. This sale alone would have been enough to make him a millionaire.
It is believed that Basquiat was worth around $100 million when he died in 1988. However, this number is likely to be much higher due to the appreciation of his works over the years.
Examining the Artist’s Numerous Sources of Wealth
In addition to his art sales, Basquiat was also a successful musician, actor, and writer. His music group, Gray, released two albums and their songs were featured in a number of films. He was also an actor, appearing in the film “Downtown 81”, and he wrote a number of books, including “Basquiat” and “The Radiant Child”.
Basquiat also had a number of investments in businesses and real estate. He invested in the clothing company, “Futura 2000”, and he owned a number of properties in New York City. These investments likely added to his net worth significantly.
Finally, Basquiat had a number of endorsement deals with companies such as Converse and Nike. These deals would have provided him with a steady stream of income, and likely added to his net worth significantly.
In conclusion, it is difficult to estimate exactly how much Jean-Michel Basquiat was worth when he passed away in 1988. His works have sold for millions of dollars, and his other sources of income, such as his investments in businesses and real estate, his endorsement deals, and his work as a musician, actor, and writer, would have added to his net worth significantly. It is likely that he was worth at least $100 million when he passed away, and his works have only appreciated in value since then.