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Harry Styles buys $4 million Basquiat painting, plans to invest in it

Harry Styles appreciates art, not just for its beauty, but for its potential income. According to a Daily Star article published on Sunday, Feb. 16, the One Direction member recently made a huge art purchase as an investment.

Harry Styles arrives at Burberry Womenswear Autumn/Winter 2014 at Kensington Gardens on February 17, 2014 in London, England.
Photo by Ian Gavan

Harry reportedly bought a painting by late Haitian-American artist Jean-Michel Basquiat at the auction house Christie’s last week for an astounding £2.8 million, which amounts to $4.7 million under the current exchange rate.

Harry’s a big fan of art and sees it as a good way to make money. Rather than a splurge, he thinks it’s a smart investment. He already has an art collection worth about £150,000 [$250,406] but that’s nothing compared to this purchase," said a source.

Harry’s really smart when it comes to money. He wants to invest his cash and Jay-Z advised him to buy art," added the source.

It was actually Jay-Z who introduced Styles to Basquiat's work.

Jay-Z has been in the industry for a very long time, is a proven successful businessman and entrepreneur, and seems like a responsible family man, so if Syles is getting advice from him and following it, his future looks secure. He certainly seems to be managing and using his money much better than fellow teen heartthrob Justin Bieber.