Chinese Investor Takes Largest Stake in Sotheby’s

artnet News | Eileen Kinsella:

Chinese insurer Taikang has amassed a 13.5 percent stake in Sotheby’s—the largest of any shareholder—and may be looking for a seat on the board of the auction house. Taikang’s CEO and chairman is Chen Dongsheng, the grandson-in-law of former Chinese leader Mao Zedong. He is also founder and president of China Guardian, the country’s second-largest auction house (after Poly International), as well as deputy chairman of China Auction Association (CAA). According to ChinaVitae.com, he was born in China in 1957 and has been head of Taikang since 1996, after founding China Guardian in 1993. Chen, who is married to Mao’s granddaughter, was also recently named in the Panama Papers leak… Read more

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2018-10-23T18:34:38+00:00