At the time of his death in 1985, Jean Paul Getty had amassed a personal wealth of over $4 billion, making him one of the wealthiest people in the world. Let’s see how he did it.
Getty was born in Minnesota in 1892 to George and Sarah Getty. Despite his later success, Getty failed to sell lemonade and newspaper subscriptions when he was a child, only showing a competitiveness when trading marbles and automotive catalogues with his friends. He studied at both the University of Southern California and Berkeley University but dropped out, eventually graduating from Magdelan College Oxford with degrees in economics and political sciences.
After university, he travelled around Europe for a few years and wanted to become a diplomat before joined the family oil business. He set about acquiring his own lease in 1915 for only $500, acquiring half the rights to a 160-acre allotment at Stone Bluff. He cleverly used a local bank manager to bid on his behalf to put off other bidders as they would think the banker represented a major oil company with significant funds. After striking oil later that year, he gave up his aspirations to become a diplomat to become a committed oilman. He soon sold the lease on, making significant money as a lease broker using his Cadillac as a mobile office when out in the field.
