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Getty, J(ean) Paul
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Getty, J(ean) Paul
US oil billionaire and art collector. He was president and general manager of George F Getty Inc., his father's oil prospecting company, from 1930. The firm was reorganized as the Getty Oil Company in 1956 and Getty became the firm's director and principal owner. He was also the founder of the Getty Museum (housing the world's highest-funded art collections) in Malibu, California. Getty's publications include Europe In The Eighteenth Century (1941), My Life And Fortunes (1953), and How To Be Rich (1965).
Getty joined his father's company in 1914. He bought land leases cheaply and made a series of oil strikes, which made him a millionaire in his early 20s. He received a one-third interest in the company on his fathers' death in 1930, but most of the US$15 million estate went to his mother Sarah. He was first reported to be the richest man in the world by Fortune magazine in 1957.
In 1985 his son, US collector John Paul Getty Jr, established an endowment fund of £50 million for the National Gallery, London, England.
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