"San Francisco Art Institute Acquired by Nonprofit Backed by Wealthy Donors"

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.