Jean-Michel Basquiat was born on the 22nd December 1960, in Brooklyn, New York City USA, of Puerto Rican and Haitian ancestry, and was an artist who gained popularity first as a graffiti artist and then as a neo – expressionist. Basquiat’s paintings are still influential for various artists and often hit high prices at art auctions. He passed away in August 1988.
So just how rich was the artist? It has been estimated that the overall size of Jean-Michel Basquiat’s net worth was as much as $10 million, converted to the present day, made from his artistic endeavours during a career spanning less than 12 years.
Jean-Michel Basquiat Net Worth $10 Million
To begin with, Basquiat showed an uncommon interest for art from an early age, and was influenced by his mother, Matilde, to draw, paint and participate in activities related to the artistic world. In 1977, Basquiat and a friend, Al Diaz started doing graffiti on abandoned buildings in Manhattan. His signature was always the same: SAMO or SAMO shit, which generated curiosity in people, mainly by the content of his graffiti messages. In the end of 1978, the Village Voice published an article about the artist, which ended with SAMO IS DEAD, the epitaph written on the walls of buildings in SoHo, New York.
In 1978, Basquiat dropped out of school and moved to the city, earning a living by selling shirts and postcards on the street. A year later, however, Basquiat became popular within the art scene of East Village in Manhattan for his appearances on a television show. At the end of the 1970s, Basquiat formed a band called Gray, with Vincent Gallo, then and unknown musician and actor. With the set, they played in clubs like Max’s Kansas City, CBGB and the Mudd Club. Basquiat and Gallo would work on a film called “New York Beat Movie”; the film career of Basquiat also included an appearance in the video “Rapture” of the band Blondie.
Basquiat gained wider recognition in 1980 when he participated in The Times Square Show, an exhibition of various artists. In 1981, Rene Ricard – poet, cultural provocateur and art critic published an article in which he commented on the artist, which helped to catapult Basquiat’s career internationally. In consecutive years, Basquiat continued to exhibit his work in New York alongside artists such as Keith Haring and Barbara Kruger. He also held international exhibitions with the help of famous gallery owners. In 1982, Basquiat was often seen in the company of Julian Schnabel, David Salle and other curators, collectors and art experts that would later become known as the neo-expressionists. However, within a couple of years many of his friends became concerned about his drug addiction and paranoid behaviour. His net worth was well established, though.
In 1985, Basquiat was on the cover of the magazine The New York Times in an article devoted entirely to him: several international exhibitions were held all in major European capitals.
Prophetically, Basquiat died of a drug cocktail (a combination of cocaine and heroin known popularly as speedball) in his studio. After his death, a film that bore his name was released relating his biography.
Finally, in the personal life of the artist, he dated an unknown singer at the time, Madonna. Later, he met Andy Warhol, with whom he collaborated openly, and cultivated close friendship. He died on the 12th August 1988 in Manhattan, New York City.
