Abramovich Buys $400 Million Private Island in Russia

Russian oligarch Roman Abramovich is splashing out around $400 million to buy a private island in the heart of historic Saint Petersburg with plans to build an art museum there housing his incredible collection, the London Daily Telegraph reports. Abramovich, one of the richest men in the world, has quietly established himself as the world's leading collector of modern and contemporary art thanks to the influence of his beautiful young girlfriend Dasha Zhukova, the paper notes. 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, including space for his amazing art collection, starring the record-breaking $86.3 million Francis Bacon triptych he bought in 2008, monumental works by Lucien Freud, Pablo Picasso and more.


Whitney Houston Dead: Singer Dies at 48, Body Found in Beverly Hilton Hotel
Whitney Houston Autopsy: Cause of Death Determined?
Whitney Houston, Bobbi Kristina: Late Singer's Daughter Hospitalized
Whitney Houston Dead: Stars React to Legend's Sudden Death
Adele Five-Year Break? Singer Plans to Focus on Relationship, Write 'Happy Record'
Jennifer Hudson Whitney Tribute: Grammy President Reveals Why Singer Was Chosen for Musical Memorial
Grammy 2012 Winners' List: Adele Sweeps Music's Biggest Night
3 Economic Misconceptions That Need to Die
5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation
People With Easy-To-Pronounce Names More Likely To Succeed, Study Says