French billionaire Francois Pinault debuted his new art museum Punta della Dogana, in what once was an abandoned customs house at the entrance of Venice’s Grand Canal. The modern art museum houses his impressive collection that includes work by Jeff Koons, Cindy Sherman and Cy Twombly, along with lesser-known, emerging artists. The first exhibit was curated by American Alison Gingeras and Francesco Bonami of Italy. For years, Pinault, who owns luxury brands such as Gucci and Yves St-Laurent, had no space to exhibit his impressive collection. He purchased the abandoned Dogana in Venice in 2007, beating out the Peggy Guggenheim Foundation for the space, and hiring Japanese architect Tadao Ando to transform the 17th century customs house.