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PETROLEUM
Lesson 1 - Page 4

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Another giant of the oil industry in the early years is J. Paul Getty. He always claimed that his formula for success included, "Rise early. Work late. Strike Oil!" Getty was born into the oil industry, as his father was an insurance company attorney in the fledgling industry. Getty acquired oil companies in the Oklahoma oil boom. Getty based his wealth not on discovering oil, but buying and selling of oil concession. His insight and deal making won Getty many oil fields in the newly opened oil rich middle east.

He was considered the United State’s first billionaire in 1957, but was noted for his "weirdness." During World War II, he spent most of his time in a concrete bunker in Tulsa, Oklahoma. But when he died in 1976, he was heralded as a symbol of the entrepreneur and master of the deal.


J. Paul Getty (1938)

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