His father sent him into the Oklahoma oil fields as a three-dollar-a-day roustabout, and by the summer of 1916, not yet 24, he had made his first million and retired. In 1932, in the depths of the Depression, he started buying Tide Water stock at $2.50 a share, the first move in a two-decade fight for control. He then bet on a strip of desert between Saudi Arabia and Kuwait that took four years and tens of millions of dollars to produce a drop of oil, and in 1957 Fortune named him the richest American. He spent nearly $17 million building an art museum in Los Angeles, and never saw it.
This is the story of J. Paul Getty, and we have a lot to learn from him.
Source for this episode:
- As I See It: The Autobiography of J. Paul Getty by J. Paul Getty
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