Silvio Berlusconi’s foundation – Silvio Berlusconi would like to create a foundation intended to promote and finance social housing projects. The foundation will be involved in the construction of housing for persons and families in financial distress. According to the weekly magazine “L’Espresso” this is the project that Berlusconi assigned to some Fininvest’s managers and that could take off in conjunction with the sale of AC Milan.
At this stage, as “L’Espresso” reported, there are various projects that are in evaluation and some certainty. Obviously, the foundation will take Silvio Berlusconi’s name and it will be the largest in the world in this sector. Moreover, in order to avoid disagreements between Berlusconi and his five sons, the foundation will be powered by Berlusconi’s personal funds.
AC Milan’s sale to the Chinese consortium, on which doubts had been fed by the agency Bloomberg even if Fininvest stated to be financially very solid, would represent an important part of the social housing project of the Silvio Berlusconi foundation.
Gianfrancesco Turano, a journalist at L’Espresso revealed that “The new Chinese partners will give Berlusconi the necessary funds to start the non-profit organization. This is a symbolic step to follow in order to avoid that some avid and disappointed supporter could criticize the project of a president that spent €1 billion to win league titles and Champions Leagues .”
Silvio Berlusconi’s foundation
This is not the first time that Silvio Berlusconi’s foundation is mentioned by the media. On September 2006, the existence of a foundation named after the AC Milan president was reported by “Vita”, a magazine dedicated to the third sector. The magazine was reporting that “Silvio Berlusconi’s foundation does not have a website or a specific mission.” The magazine further investigated and stated “Only some personal transactions are known such as the €50,000 donated to purchase machinery for the S. Giovanni di Dio hospital of Olbia during the “Cuori d’Oro” event that was organized last summer by Krizia, and the €5 million donated to Fr. Gelmini.
If the rumors reported by L’Espresso were to be true, Silvio Berlusconi’s foundation could finally give greater visibility to their initiatives.