‘I really just started buying art as a passion,” hedge-fund manager Daniel S. Loeb told Business Insider. Loeb, who is one of the founders of Third Point, and his wife, Marguerite Munzer Loeb, own a robust collection of contemporary art that includes works by Richard Prince, Mike Kelley, Cindy Sherman, and Andy Warhol. Over time, however, Daniel also came to see contemporary artworks as financial assets whose worth is largely determined by the auction houses. In 2013 Third Point became Sotheby’s largest shareholder, though not without controversy. (In July 2015, the house announced that Taikang Life Insurance would acquire 13.5 percent of the company’s shares, edging out Loeb as the majority shareholder.)
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