Damien Hirst, World’s Wealthiest Artist, Claims $1.7 Million in Government Aid


Conceptual artist Damien Hirst, who has made a occupation of raising eyebrows with operates this sort of as those people respectively comprising a useless tiger shark suspended in a Lucite tank stuffed with formaldehyde and a human cranium built from platinum and paved with diamonds, has carried out it again—though this time via a fiscal, rather than creative, endeavor. Hirst, whose particular wealth is estimated at around $396 million, applied for and acquired £1.3 million ($1.7 million) in federal government pandemic reduction aid as a result of his enterprise Science (Uk) Ltd. According to the Everyday Mail, the company, through which Hirst employs a range of studio assistants to support him churn out his Location and Cherry Blossom paintings, reaped a documented £18.2 million ($24 million) in the course of the Covid disaster, turning an astounding £3.5 million ($4.6 million) profit in 2020, with profits jumping in the initial months of the crisis.

The Observer moreover stories that Science (British isles) Ltd.in 2021 received a three-year, £15 million ($20 million) Covid crisis loan imply to address business enterprise interruption and provided by the British federal government. At the time, the company’s artwork holdings have been valued at  £42.7 million  ($56 million). Hirst laid off sixty-3 employees in the course of the identical span of time. Hirst, a Turner Prize winner and possibly the most notorious of the YBAs (Younger British Artists), who gained fame in the late 1980s, in 2018 laid off fifty studio worker in get to “get back to a more simple way of operating,” as a Science (Uk) Ltd. spokesperson informed The Artwork Newspaper that 12 months.

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