The Inhotim Institute is home to one of the largest foundations of contemporary art in Brazil and one of the largest outdoor art centers in Latin America. It was founded by the former mining magnate Bernardo Paz in 2004 to house his personal art collection, but opened to the public a couple of years later. In 2014, the open-air museum was one of TripAdvisor's top 25 best-ranked museums in the world.