A TYCOON who invested in a giant block of solid gold has gone bankrupt – and punters now have the chance to own a slice of the $23million cube.
The Castello Cube, a modern art piece made entirely from 24-carat gold, is up for grabs after real estate mogul Klemens Hallmann went broke.
The Austrian businessman, 49, owns a 32 per cent stake in the mind-boggling square.
Authorities have now seized it as part of efforts to repay his debt.
With gold priced at $4,000 per ounce at the time of writing, it means the total value of the whole hollowed out box is somewhere around $23million.
Designed by German artist Niclas Castello, the golden cube is a conceptual piece of art which made headlines in 2022 after being spotted in New York.
It was mysteriously placed in Central Park to much confusion from stunned passers-by.
The 186kg Castello Cube has also appeared in Venice and Zurich.
The visionary pulled his artistic stunt as part of a promotion campaign for an accompanying cryptocurrency called Castello Coin – as well as a related NFT platform.
The proposed sale of parts of Hallmann’s share in the square come after previous claims that the artwork could “never be sold or owned”.
Hallmann made his fortune in real estate as he built up an £8.8billion property empire – which includes the EU’s Europa Experience in Austria.
The entrepreneur also invested in film and documentary production.
He funded a range of films including the 2013 biopic of Formula 1 drivers James Hunt and Niki Lauda, Rush.
The businessman also married German model Barbara Meier in 2019 – with the pair splashing out on a luxury wedding ceremony attended by Arnold Schwarzenegger.
Hallmann’s net worth was estimated to be nearly $1.5billion in 2023, making him one of Austria‘s richest people.
But his real estate development firm Suba went into administration this year.
He then filed for bankruptcy in August, citing a drop off in the property market.
Awe-inspired passers-by told local media three years ago what they thought of the striking gold cube.
One witness told The New York Times in 2022: “The reflections are incredible… and putting it there in the snow seems really inspired.”
Another said: “Never before in the history of humanity has such an enormous amount of gold been cast into a single, pure object… [but] it’s pretty plain.”
What is the Castello Cube?
THE Castello Cube is a piece of art by German contemporary artist Niclas Castello.
It is a hollow cube made of 24-karat gold weighing in at 186kg.
The artwork has been displayed in major public locations including Central Park in New York City and in Venice.
The piece plays with contrasts, using the most basic geometric shape to hold the most precious of materials, pure gold.
It was displayed in public as part of a promotion campaign for a cryptocurrency called Castello Coin – as well as a related NFT platform.
