"Formula for success ..." - J. Paul Getty

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August 2, 2016 8:03 PM

Jean Paul Getty KBE (December 15, 1892 – June 6, 1976) was an American industrialist.

J. Paul Getty

"Formula for success: rise early, work hard, strike oil." - J. Paul Getty.

Jean Paul Getty KBE (December 15, 1892 – June 6, 1976) was an American industrialist. He founded the Getty Oil Company, and in 1957 Fortune magazine named him the richest living American, while the 1966 Guinness Book of Records named him as the world's richest private citizen, worth an estimated $1.2 billion (approximately $8.8 billion in 2015).

At his death, he was worth more than $2 billion (approximately $8.3 billion in 2015). A book published in 1996 ranked him as the 67th richest American who ever lived, based on his wealth as a percentage of the gross national product.

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Despite his wealth, Getty was notably frugal. He famously negotiated his grandson's ransom.

Getty was an avid collector of art and antiquities; his collection formed the basis of the J. Paul Getty Museum in Los Angeles, California, and over $661 million (approximately $2.7 billion in 2015) of his estate was left to the museum after his death.

He established the J. Paul Getty Trust in 1953. The trust is the world's wealthiest art institution, and operates the J. Paul Getty Museum, the Getty Foundation, the Getty Research Institute, and the Getty Conservation Institute.

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