[11] His art collection included works by Renoir, Picasso, Rodin, Ernst, Daumier, Damien Hirst, Jeff Koons, and Jean-Michel Basquiat in addition to 800 Warhols.
[15] In 2008, the Wall Street Journal reported on how the Mugrabis were said by several art dealers to be "doing whatever they can to keep Warhol prices high, including occasionally overpaying – or overcharging – for the artworks.
"[4] In November 1988, at Sotheby's in New York, Mugrabi set a new world record for Warhol's work when he purchased Marilyn Monroe (Twenty Times) for $3.96 million.
[21] In 2013, Mugrabi set a record for the most expensive work by a living artist, when he paid $58.4 million for Jeff Koons’s Balloon Dog (Orange) from Peter M. Brant's collection at Christie’s.
[22][23] In February 2020, he lent items from his Koons collection to the Tel Aviv Museum of Art for the "Absolute Value" exhibition, which runs to October 2020.
[25] The fund was backed by loans from banks including Banco Bilbao Vizcaya Argentaria and Nomura Holdings, which invested about $304 million.