The Berardo Foundation has debts of €998 million as at the end of 2016. Almost all are medium to long-term bank borrowings.
The founder of the Foundation, Joe Berardo, holds 862 works of modern and contemporary art in a collection valued by Christie’s at €316 million in 2007, rising to around €400 million today. This is the collection on display at the Museu Coleção Berardo in Belém, Lisbon.
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