J. Paul Getty’s profile picture

J. Paul Getty

Businessman
J. Paul Getty’s profile picture
Net worth 2018: $8.3 Billion
Industry: Oil Barons
Residence: Minneapolis, Minnesota, U.S
BirthDay: 15 December 1892
Sigh: Capricorn
Died On: June 6, 1976
Education: Magdalen College, Oxford, University of Southern California, University of Oxford
BIOGRAPHY

J. Paul Getty was bornon 15 December 1892 in Minneapolis, Minnesota, U.S, British, American, is Businessman. Jean Paul Getty is popularly remembered as the world’s first billionaire and independent oil producer. Son of an oil merchant, George Getty, young Jean took to business at an early age. He learned the tricks of the trade while working as an unskilled labourer at his father’s oil company. No sooner, he started a business of his own, and within two years, became a millionaire. However, he did not continue in the same and went into a period of self-exile for two years to live life as a Los Angeles playboy only to return in 1919 to the oil business. He worked hard in the 1920, building his father’s company to become a self-sufficient oil company, dealing in oil drilling, transporting and selling. It was his shrewd sense of business and risk-taking capabilities that helped him double the fortune of his personal wealth and expand the company to broader horizons. His sharp business acumen led to 200 acquisitions of different oil companies of the world into Getty Oil Corporation. In 1957, he was named as the richest living American by the Fortune magazine. Nine years later, he got himself inducted into the Guinness Book of World Records by becoming the world's richest private citizen, worth an estimated $1.2 billion. Despite huge profits and greatly amassed wealth, he was a miser and did not indulge in philanthropic activities.

NET WORTH STATISTIC
2018

$8.3 Billion

TIMELINE
1976

He breathed his last on June 6, 1976 due to heart failure

1967

In 1967, the companies merged to operate as a single unit under Getty Oil Company, thus increasing the profit of the company

1959

In 1959, he purchased the Sutton Place, which was spread over 1500 acres and encompassed 72 rooms

1953

However, the tables of fortune turned as in 1953, the land started producing 16,000,000 barrels a year, greatly enhancing the fortune of the company

1950

By the end of the 1950s decade, he got hold of the Skelly Oil and Tidewater Oil as well

1949

In 1949, he gambled for a tract of barren land near the border of Saudi Arabia and Kuwait with Ibn Saud, by paying the latter $9

1936

However, much like his previous nuptials, this too did not last long and ended in 1936

1932

Ann Rork was the fourth wife with whom he went into the wedlock in 1932

1930

After the death of his father in 1930, he inherited a mere $500,000 of the $10 million the senior Getty left at his death

1928

The marriage did not last long and the two parted ways in 1928

1920

He spent the better part of the 1920s working in close collaboration with his father

1919

The detour in his career did not last long as he resumed the oil business in 1919

1916

By 1916, he made his first million, earning the same from the Nancy Taylor No

1914

In 1914, he moved to Tulsa, Oklahoma, to start up as an oil producer

1912

In 1912, he transferred to the Oxford University in England to study political science and economics

1905

In 1905, the family pulled up stakes in the oil business, relocating to Los Angeles, California

1903

His father, formerly a lawyer, entered the oil industry in 1903

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