Tech billionaires have been criticized for spending their fortunes on philanthropic projects other that those in the arts their predecessors once supported . “Their passions in terms of philanthropy are often not connected to cultural institutions,” he said. Sotheby ’s European chairman Oliver Barker said Silicon Valley ’s elite had little interest or knowledge in the art market . Many of them do spend money on art , however , and the late Microsoft co - founder Paul Allen had a large collection of paintings and founded a museum of pop culture . Art collector and former Apple executive Jeff Dauber said this might be the issue with many billionaires too young to appreciate art .
Tech billionaires have been criticized for spending their fortunes on philanthropic projects other that those in the arts their predecessors once supported . Sotheby ’s European chairman Oliver Barker said Silicon Valley ’s elite had little interest or knowledge in the art market . Many of them do spend money on art , however , and the late Microsoft co - founder Paul Allen had a large collection of paintings and founded a museum of pop culture . Art collector and former Apple executive Jeff Dauber said this might be the issue with many billionaires too young to appreciate art .