Roman Abramovich Buys Island Art $400 Million Treasure

By: Staff
Staff Writer
Published: Dec 8, 2021

Roman Abramovich Buys Island Art $400 Million

Roman Abramovich buys island art for $400 Million cash. The island buys Roman Abramovich time to build an art museum for $400 million. It's a 300-year-old military base with a lot of history dating back to the Soviet Union and Russia.

Abramovich will have a personal private collection that will be in the heart of historic Saint Petersburg. The island will make him the world's leading art collector. His big influence to buy it all for $400 million is his girlfriend Dasha Zhukova.

New Holland island, which he has just acquired, is a crumbling 300-year-old former military base which belonged to the Russian admiralty. Abramovich plans to transform the 18th century warehouses into a cultural and commercial center in Russia's old imperial capital. This includes space for his amazing art collection.

The billionaire owns a record-breaking $86.3 million Francis Bacon triptych he bought in 2008. Abramovich also owns monumental works by Lucien Freud, Pablo Picasso and others. He's got a great art collection that will soon be showcased on the island.