According to documents reviewed by the New York Times, Prince Bader is paying Christie's the $450.3 million (including a buyer's premium) in six monthly installments of roughly $58.4 million each.
"The word "masterpiece" barely begins to convey the rarity, importance and sublime beauty of Leonardo's painting", said Alan Wintermute from Christie's, the auction house that conducted the sale. As one of the seven sheikhdoms in the United Arab Emirates, and the one with the largest oil reserves, Abu Dhabi is entwined in a Saudi Arabian-led dispute with neighboring Qatar over its alleged support for terrorism.
The mysterious identity of the man who purchased the most expensive painting in the world is said to be Saudi Prince Bader bin Abdullah bin Mohammed bin Farhan al-Saud.
Prince Bader reportedly claimed real estate was his main source of finance.
Unlike much of the Saudi elite, which has been scooped up or intimidated into silence by Prince Mohammed's ongoing purge, Prince Bader appears to be in good standing with the heir apparent to King Salman's thrown. While most are scattered around the world, the Louvre Abu Dhabi will now have two of these paintings.
Judge sends VW manager to prison for 7 years
He pleaded guilty in August to charges that included defrauding the United States and violating the Clean Air Act. VW pleaded guilty as a corporation in March and agreed to pay billions of dollars in fines.
Canada canceling purchase of new Boeing fighter jets
Department of Defence said in September that the contract for the Super Hornets could be worth up to $6.4-billion. The funding allowed Bombardier to significantly lower the cost per aircraft, Boeing argued.
Indian Drone Invaded China's Airspace And Crashed, Alleges Chinese Media
The drone report comes months after the border stand-off near Doklam in Sikkim sector. The matter is being dealt with in accordance with established protocols", it added.
The highest known sale price for any artwork had been 300 million dollars (£224), for Willem de Kooning's painting "Interchange". This can be linked to what he said to the lawyers of Christie regarding his financial sources.
Documents viewed by The New York Times purportedly show Prince Bader as the final bidder for the $US450 million ($596 million) painting, Leonardo da Vinci's Salvator Mundi.
Bidding was strong for the Leonardo da Vinci painting.
Salvator Mundi, which means Saviour of the World, went on public display in 2011 in a dramatic unveiling at the National Gallery in London, where the work was declared to be the first newly discovered Da Vinci painting in a century.
The sale more than doubled the previous record of $179.4m paid for Pablo Picasso's The Women of Algiers (Version O) in 2015, also in NY. It now displays "La Belle Ferronnière", which is on loan from the Louvre in Paris, according to Bloomberg.
It is one of fewer than 20 paintings by the Renaissance master known to exist and the only one in private hands.
Upon re-emerging at auction in 1958, it was dismissed as a copy and sold for just £45 ($60). The seller was Russian billionaire Dmitry Rybolovlev, who purchased it for $127.5 million in 2013.