"San Francisco Art Institute Acquired by Nonprofit Backed by Wealthy Donors"
TL;DR
The bankrupt San Francisco Art Institute, home to a valuable Diego Rivera mural, has been sold to a nonprofit organization led by philanthropist Laurene Powell Jobs for about $30 million. The sale includes the iconic 1931 mural, valued at $50 million, which will remain in a viewing room. The former campus will be repurposed to house an unaccredited institution with a residency program for artists, aiming to support and create a community center around art. The purchase is seen as a positive development for San Francisco's arts and culture scene, providing hope for the city's recovery.
Topics:entertainmentart-and-design#art-and-design#bankruptcy#diego-rivera-mural#laurene-powell-jobs#nonprofit-organization#san-francisco-art-institute
- San Francisco Art Institute, With Diego Rivera Mural, Is Sold to Nonprofit The New York Times
- SF Art Institute bought by nonprofit backed by Laurene Powell Jobs San Francisco Chronicle
- Ana Mendieta’s Family Vexed Over Portrayal, Laurene Powell Jobs Buys San Francisco Art Institute and More: Morning Links for March 4, 2024 ARTnews
- Wealthy donors purchase former San Francisco Art Institute campus SFGATE
- San Francisco Art Institute is sold to a new nonprofit — along with the Diego Rivera mural inside Los Angeles Times
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