Similarly, the Frescobaldis, who since the Renaissance have commissioned works from artists such as Filippo Brunelleschi, have introduced a contemporary art award called “Artists for Frescobaldi.” For this project, 999 special bottles are produced every year and some of the proceeds are reinvested to support contemporary art.
The Fuggerei’s 140 apartments have survived innumerable wars and partial destruction during World War II. While they have been renovated, they still follow the original floor plans and feature some unique Renaissance decor, such as a lever-activated door-opening mechanism that in the past let tenants allow visitors in without leaving the apartment’s only heated room.
“I almost feel a little bit more like a trustee,'' said Fugger-Babenhausen, head of one the three surviving family branches that still run the housing complex through a foundation. As for the family business, “I become very frugal in what I take for myself.”
--With assistance from Flavia Rotondi and Giovanni Salzano in Rome
This article was provided by Bloomberg News.