J. Paul Getty

Who was J. Paul Getty?

Jean Paul Getty was an Anglo-American industrialist. He founded the Getty Oil Company, and in 1957 Fortune magazine named him the richest living American, whilst the 1966 Guinness Book of Records named him as the world's richest private citizen, worth an estimated $1.2 billion. At his death, he was worth more than $2 billion. 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. Despite his wealth, Getty was known for being a miser.

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 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.

Famous Quotes:

• The individual who wants to reach the top in business must appreciate the might of the force of habit and must understand that practices are what create habits. He must be quick to break those habits that can break him and hasten to adopt those practices that will become the habits that help him achieve the success he desires.
• 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.
• To succeed in business, to reach the top, an individual must know all it is possible to know about that business.
• Money is like manure. You have to spread it around or it smells.
• In times of rapid change, experience could be your worst enemy.
• If you can actually count your money, then you're not a rich man.
• I buy when other people are selling.
• There are always opportunities through which businessmen can profit handsomely if they will only recognize and seize them.
• Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine, and eminently unsatisfying.
• Going to work for a large company is like getting on a train. Are you going sixty miles an hour or is the train going sixty miles an hour and you're just sitting still?