Microsoft’s billionaire co-founder has an art collection worth as much as $750 million — see the painting he just sold for a cool $35 million

• Art Basel Hong Kong is the premier art fair in Asia for millionaire and billionaire collectors to buy and sell art.
• China is now the second biggest art market in the world, after the United States.
• Art Basel Hong Kong kicked off this year with one of its biggest sales yet thanks to Microsoft co-founder and art world powerhouse Paul Allen.
• Allen sold an abstract painting by William de Kooning for $ 35 million to a very private collector.

Every few months, the world’s biggest art collectors  — i.e. the world’s mega-rich — meet at Art Basel to trade millions of dollars worth of paintings, sculptures, and installations.

This year’s Hong Kong fair kicked off Tuesday with a sale of incredible magnitude: Microsoft co-founder and US-based billionaire Paul Allen sold Willem de Kooning’s abstract painting Untitled XII, 1975 for $ 35 million to a private collector. 

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