A fixture within the French art scene, François Pinault is making headlines with his new private museum in Paris, Bourse de Commerce—Pinault Collection, set to open in June 2020.
With a net worth estimated at US$35 billion, the 85-year-old museum owner is the world’s 22nd richest man, according to Bloomberg Billionaires Index. The French collector, whose family’s holding company Artemis S.A owns British auction house Christie’s, is also the founder of international luxury group Kering, which owns brands including Gucci, Yves Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, Brioni and Pomellato.
Currently owns two other museums in Venice—the Palazzo Grassi and the Punta della Dogana, Pinault's third museum in Paris is expected to showcase artworks from his over 40 years of collection by artists such as Cindy Sherman, Albert Oehlen, Jeff Koons, Damien Hirst and Louise Bourgeois. As we await more details about the $170 Million museum, here’s everything we know.
1/3 The Location
Pinault’s private museum will be housed in the 130-year-old Bourse de Commerce, Paris’ former stock exchange, which will reopen as contemporary art museum near the Louvre and the Pompidou Centre.
Collaborative efforts with neighbouring art spaces are well under way, Pinault told New York Times earlier this year, that he wants his museum to “complement” Paris’ existing institutions.
2/3 The Cost
Owned by the city of Paris, the 19th-century, glass-domed architecture is granted to Pinault with a 50-year lease that costs more than US$16 million.
The operation cost of the 30,000-square-foot museum will be funded by Pinault, who promises the city a percentage of the museum’s turnover in the first two years of its opening.
3/3 The Design
The Bourse de Commerce is being transformed by Pritzker Prize-winning Japanese architect Tadao Ando, who also designed Pinault’s museums in Venice.
The restoration will turn the former stock exchange into seven exhibition galleries on the first floor, a black-box space for experimental visual and sound works as well as a 300-seat auditorium.
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