Samuel Newhouse, Jr.
Art collection: $700 million
Condé Nast chairman broke some early records bidding for art. Reportedly paid more than $17 million in 1988 for Jasper Johns' "False Start," a then-record price for artwork by a living artist. Later sold to David Geffen who flipped it for $80 million. Board member of the Museum of Modern Art for more than a quarter of a century. Apparently resigned in 2000 after buying a cubist painting by Pablo Picasso "Man with Guitar," (pictured), from a dealer selling it on behalf of the museum; trustees are prohibited from buying its art.
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