paul trust world wealthiest art institution estimated billion based los_angeles california operates locations los_angeles district los_angeles california programs estimated million visitors year trust operates visited museums united_states trust provides grants training museums cultural institutions trust library publications program visiting scholar program trust conservation program dedicated advancing conservation practice creation delivery knowledge trust scaled scope activities response financial challenges history paul museum trust established founded fortune magazine named richest living american death worth billion died left bulk estate including nearly million worth stock paul museum trust legal conflicts took years resolve trust finally received trust began add number new programs february petitioned court change named president ceo trust began work january succeeding president oversaw construction billion designed architect billion wealthiest art institution world early tenure reorganized closing institution programs deal long run financial issues sought relationships donors corporate partners leadership increasingly controversial embroiled numerous controversies relating collections expense account midst investigation california attorney general resigned forced package million alleged including lavish expense account spending december trust announced hiring art historian director trust new president ceo replacing forced step earlier year substantial drop trust assets wood cut nearly employees trust operations fees parking museum villa raised wood died suddenly natural causes june director named president chief executive office august programs paul museum art museum locations center los_angeles california villa los_angeles california museum center contains western art middle ages present estimated million visitors annually makes visited museums united_states museum contains art ancient greece rome museum started personal art collection originally called grant program began direction spend gifts grants based grants totaling million art historians art museums countries example foundation grant funded restoration floor years foundation conducted major program known served close museum professionals united_states countries worldwide effective january transferred california renamed leadership institute located center los_angeles california dedicated knowledge advancing understanding visual arts maintains research library exhibitions events sponsors residential scholars program publishes books maintains electronic including web service originally called center history art conceived early holdings research library contains volumes books periodicals auction special collections million photographs art architecture library includes trust institutional archives document activities trust programs located los_angeles california headquartered center facilities villa commenced operation private international research institution dedicated advancing conservation practice creation delivery knowledge serves conservation community scientific research education training model field projects results work work field principles guide work service philanthropy teaching access activities art conservation architectural conservation scientists study deterioration objects buildings prevent stop deterioration involved long term education programs establishing master degree program collaboration june trust ran sought collect electronic information serve cultural heritage institution researchers sought build broad coalition non profits establish national initiative cultural heritage dissolution data bases transferred governance trust established trust dated december created california charitable trust artistic general knowledge trust governed member board trustees trustees elected serve year terms maximum limit terms board self board trustees board holds annual meeting june year board conducts work committees number important decisions reserved entire board including approval art acquisition costing million october california attorney general issued report following investigation trust operations close investigation independent monitor hired assure proper governance expenditures trust attorney general closed monitoring process trust hurt economic following reduced annual budget trust billion dropped billion trust million expenses million example produced index architectural periodicals transferred activity columbia_university july recovery post recession economy trust risen billion paul medal established trustees paul trust honor extraordinary contributions practice understanding support arts recipients presented december honored leadership creating exists today november presented 4th baron volunteer cultural leader known dedication preservation public interpretation september awarded architect built architectural career decades produced public private buildings america europe asia work earned significant awards architectural field including medal awarded musician posthumously artist celebratory dinner october addition accomplished career master founded silk road ensemble nonprofit promote creation new music cross cultural partnerships education programs cross disciplinary collaborations create meaningful change intersection arts education business accomplished painter sculptor supported conservation historical contemporary art museums heritage sites world preservation natural environment
J. Paul Getty Trust