With its $5.3-billion endowment and $250-million annual budget, the J. Paul Getty Trust is considered "the world's wealthiest arts organization," and now it has a new leader, reports the Los Angeles Times. James Cuno, currently the director of the prestigious Art Institue of Chicago, will take over running the Trust in August. more ›

The Getty has a nearly-three-decades-long reputation of being an unabashedly wealthy organization with lofty cultural ideals. Launched in 1982, the Trust was put in place to assure late tycoon J. Paul Getty's vision of bringing art to the people and spreading knowledge. Despite some growing pains (and what billionaire family doesn't have a little scandal now and then?) the Getty, predominantly associated with their two local museums, has remained a stalwart figure in the local and international art scene. But the Getty isn't impervious to the fickle fate of finances, and last December, the Trust revealed that their endowment monies had shrunk by 25%. more ›