Early Life
David Nahmad was born in 1947 in Beirut, Lebanon, into a Syrian Jewish art family. Due to anti-Jewish violence, the Nahmad family moved to Beirut in 1947 and later relocated to Milan, Italy, in the early 1960s due to worsening conditions. In Milan, David and his brother, Ezra, began dealing in art in their teens.
Rise to Success
David and Ezra Nahmad used their profits from trading on the Italian stock market to acquire valuable artworks. They befriended art dealer Daniel-Henry Kahnweiler, who provided them access to works by masters such as Picasso, Braque, and Gris. The Nahmad brothers moved to Monaco and New York City for safety. Together, David and Ezra built an extensive collection of modern and impressionist art. The Nahmad collection is considered one of the most significant globally and includes a large number of Picasso works.
Key Business Strategies
The Nahmad brothers revolutionized art dealing by treating it akin to stock trading. They capitalized on market downturns to acquire masterpieces at lower prices, holding onto them until their value appreciated significantly. They focused on blue-chip artists and built an expansive art warehouse to store their vast collection.
Philanthropy
David Nahmad is known for his philanthropic endeavors and has supported various charitable causes. In 2020, he raffled off a Picasso painting for charity.