J. Paul Getty

Lore & Background

Getty was born in Minneapolis to Sarah Catherine McPherson and George Franklin Getty, an attorney in the insurance industry. He grew up Methodist; his father was a devout Christian Scientist, and both parents were strict teetotalers. In 1903, his father bought mineral rights in Oklahoma, and the family moved to Bartlesville, where Getty attended Garfield School. The family became millionaires after establishing wells producing 100,000 barrels of crude oil a month. Getty later studied at the University of California, Berkeley, and the University of Oxford, obtaining a diploma in economics and political science in 1913. He became fluent in several languages, including French, German, Italian, and ancient Greek and Latin.

In 1914, his father gave him $10,000 to invest in Oklahoma oil fields. The Nancy Taylor No. 1 Oil Well Site struck oil in 1915, making Getty a millionaire. During the Great Depression, he acquired Pacific Western Oil Corporation and later merged holdings into Getty Oil. In 1948–49, he paid $9.5 million for the Saudi Arabian Neutral Zone concession, a gamble that produced 16 million barrels a year from 1953. He owned controlling interest in about 200 businesses. Getty was married and divorced five times, with five sons from four wives. He was known for haggling with kidnappers when his grandson was held for ransom in 1973.

Reader's Guide

J. Paul Getty's significance lies in his transformation of a family oil business into a global petroleum empire, making him one of the wealthiest individuals of the 20th century. His aggressive acquisitions during the Great Depression and his risky Middle East investments, particularly the Saudi Neutral Zone concession, secured his fortune and reshaped the oil industry. Beyond business, Getty's legacy is defined by his art collection, which he began in the late 1930s, inspired by 18th-century French works. Despite his stinginess, he amassed over 600 works, including paintings by Rubens, Titian, and Monet. After his death, more than $661 million of his estate funded the J. Paul Getty Museum, and the J. Paul Getty Trust, established in 1953, became the world's wealthiest art institution, operating the Getty Center, Getty Villa, and other entities. His frugality and complex personal life, including five divorces and a notorious reputation, contrast with his monumental cultural contributions. The 1996 ranking of him as the 67th wealthiest American ever underscores his enduring financial impact.

Did You Know?

• Getty was named the wealthiest living American by Fortune magazine in 1957.
• He haggled with kidnappers when his grandson was held for ransom in 1973.
• He left more than $661 million of his estate to the J. Paul Getty Museum.
• He obtained a diploma in economics and political science from Oxford in 1913.

Notable Quotes (Wikiquote)

"Jean Paul Getty (December 15, 1892 – June 6, 1976) was an American industrialist and founder of the Getty Oil Company." — J. Paul Getty "If you can count your money, you don’t have a billion dollars." — J. Paul Getty "My father said, 'You must never try to make all the money that's in a deal. Let the other fellow make some money too, because if you have a reputation for always making all the money, you won't have many deals'." — J. Paul Getty "The meek shall inherit the Earth, but not its mineral rights." — J. Paul Getty