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28-02-1982

Getty Museum Endowed

On February 28, 1982, the J. Paul Getty Museum becomes the most richly endowed museum on earth when it receives a $1.2 billion bequest left to it by the late J. Paul Getty. The American oil billionaire died in 1976, but legal wrangling over his fortune by his children and ex-wives kept his will in probate until 1982. During those six years, what was a originally a $700 million bequest to the museum nearly doubled. By 2000, the endowment was worth $5 billion--even after the trust spent nearly $1 billion in the 1990s on the construction of a massive museum and arts education complex in Los Angeles. The $1 billion complex opened in December 1997. Fourteen years in the making, the Getty Center includes a large museum, a research institute and library, an art conservation institute, a digital information institute, an arts education institute, a museum management school, and a grant program center. The buildings were designed in a modernist style by American architect Richard Meier.