David Nahmad’s profile picture

David Nahmad

David Nahmad’s profile picture
Net worth 2018: $1.85 Billion
Residence: New York
Country: Monaco
BirthDay: 1947
Children: 3
BIOGRAPHY

David Nahmad was bornon 1947 in New York, Monaco. David Nahmad is #1289 in List Billionaires People In The World. Megadealer David Nahmad and his brother Ezra own a huge stockpile of modern and impressionist art that they store in a duty-free warehouse next to the airport in Geneva, Switzerland. Their inventory includes work by more than 30 blue chip artists, from Monet and Matisse to Renoir and Rothko. They buy and sell most of their works at auction. Among the holdings: 300 Picassos, worth at least $1 billion. The whole collection is worth some $3 billion. The brothers hold the art assets jointly, split 50/50. David also trades a currency and stock portfolio worth an estimated $350 million. David's son Hillel, known as Helly, runs the Helly Nahmad Gallery in the Carlyle Hotel in Manhattan. His cousin, Ezra's son, is also named Helly and runs a gallery by the same name in London. David's younger son Joe runs the Nahmad Contemporary gallery on Manhattan's Madison Avenue. The sons' assets are separate from their fathers'.

NET WORTH STATISTIC
2011

$3 Billion

2012

$3 Billion

2013

$1.75 Billion

2014

$1.75 Billion

2015

$1.85 Billion

2016

$1.9 Billion

2017

$1.9 Billion

2018

$1.85 Billion

TIMELINE
2016

In a letter filed in court on May 25, 2016, Eve Livengood claimed the painting was purchased by her husband's grandfather in 1944 and was in the possession of the family for over 50 years, until the Christie's Auction

2015

In 2015, the Limited Ancillary Administrator for the Estate of Oscar Stettiner filed suit in the Supreme Court of the State of New York, County of New York, seeking the same relief sought in federal court

2013

As of 2013, David Nahmad and his family's net worth was estimated at $3 billion, ranking him with his family at 377 on the Forbes billionaires list

2012

In 2012, after Defendants moved to dismiss, Maestracci’s counsel withdrew that complaint

2011

"In 2011, Philippe Maestracci filed suit in the United States District Court for the Southern District of New York, seeking title to the 1918 Modigliani painting Seated Man with a Cane, valued at more than $25 million

2000

Helly Nahmad Gallery, on Madison Avenue, is a company run by David’s son Hillel "Helly" Nahmad, who took over his father’s earlier Davlyn Gallery in 2000

1996

David Nahmad is also the 1996 Backgammon World Champion, and is known for betting large amounts of money on the game

1970

With the emergence of the Red Brigades terror group in the 1970s, Milan was perceived as too dangerous, and the family moved again

1960

As teenagers in the 1960s, they began to deal in art

1947

Following anti-Jewish violence in 1947, Hillel Nahmad moved to Beirut, Lebanon and when the situation there became difficult, Hillel took his three sons, Joseph (Giuseppe), Ezra and David, to Milan in the early 1960s

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