Nicolas Berggruen Acquires Palazzo Malipiero in Venice for Personal Residence

French billionaire philanthropist Nicolas Berggruen has purchased a significant portion of Palazzo Malipiero in Venice, adding to his expanding real estate portfolio in the city. The palazzo, located in the San Marco district near Palazzo Grassi and overlooking the Grand Canal, dates back to the 10th–11th centuries with Byzantine origins. Berggruen plans to use it as his personal residence, unlike his previous Venetian acquisitions—Casa dei Tre Oci on Giudecca Island (home to the Berggruen Institute) and Palazzo Diedo (housing Berggruen Art & Culture)—which serve cultural purposes. The property was acquired from Francesca Barnabò, an entrepreneur and gallerist, and former wife of ex-minister Gianni De Michelis. Architect Silvio Fassi, who has worked on Berggruen's other Venetian properties, will oversee renovations. Berggruen's cultural initiatives in Venice include the Berggruen Institute at Casa dei Tre Oci, which hosts international summits, workshops, and exhibitions on visual arts and architecture, and Berggruen Art & Culture at Palazzo Diedo, directed by Mario Codognato. The latter has launched artist residencies, starting with Sterling Ruby, who is creating a project titled "A Project in Four Acts" on the palazzo's facade, culminating in a show and the building's inauguration by 2024.