Patrick Drahi

Spear’s Review

The Casablanca-born French-Israeli billionaire Patrick Drahi earns his place on the Spear’s Power List as a result of his controlling interest in Sotheby’s.

However, Drahi, who is an electrical engineer by training, built the majority of his fortune through telecommunications firm Altice, which grew through acquisitions in several markets. He took the company private in 2021.

Drahi acquired Sotheby’s in 2019 at a 61 per cent market premium, promising to cut debts and fund growth. In 2024 – with Sotheby’s still carrying significant debt – it was announced that ADQ, an Abu Dhabi sovereign wealth fund, would take a $1 billion stake in the business.

This has paved the way for the grand old auction house to take advantage of opportunities in the Middle East. In February 2025 Sotheby’s held its first sale in Saudi Arabia; works by Magritte, Banksy, Warhol and Damien Hirst went up for sale, and payment was accepted in cryptocurrency. In December 2025 Sotheby’s will host its first sales in Abu Dhabi, which has been building its credentials as a regional hub for art and culture.

According to Forbes, Drahi’s net worth is $8.2 billion. 

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