Charles Stewart: Sotheby's CEO's Journey from Banking to Art World Influence
Patrick Drahi's handpicked CEO has become the longest-tenured leader of a major auction house, navigating growth through diversification and international investment.
When telecom tycoon Patrick Drahi acquired Sotheby's in 2019, he appointed Charles Stewart, then a banking and corporate leader with no prior art world experience, as chief executive. Stewart, now 56, has since become the longest-tenured current head of a major auction house.
Under Stewart's leadership, Sotheby's has expanded its global presence and offerings. The auction house opened a new flagship in Hong Kong, featuring a retail boutique, and relocated its New York headquarters to a historic Madison Avenue building. Stewart has also cultivated significant ties with the Gulf region, securing approximately $1 billion in investment from Abu Dhabi's sovereign wealth fund in late 2024 and launching live sales in Saudi Arabia in 2025, a first for a Western auction house.
The firm's strategy has also involved diversifying its portfolio to include a wider range of collectibles. Sotheby's took a controlling stake in collectible car specialist RM Auctions, further broadening its market reach. These strategic moves, driven by what is described as an "outsider thinking" approach, have contributed to Sotheby's performance. In Stewart's first seven years at the helm, the company sold nearly $50 billion worth of art and luxury collectibles.