Jean Paul Getty Founder of Getty Oil

Biography of Jean Paul Getty

Early Life

Jean Paul Getty founder of Getty Oil was born on 15^th December, 1892 in Minneapolis, Minnesota. His parents were George Getty and Sarah McPherson Risher. His father was a businessman in the field of petroleum.

He got his education from two universities but before going into university life, he went to Magdalen College, Oxford. From there he completed his intermediate in 1914. As mentioned earlier that he attended two universities. Those two universities were the University of Southern California and other one was the University of California, Berkeley. He got his graduation in two fields of study also. He got a degree in economics and later on another degree in political sciences.

Early Career

While study, he used his summer vacations while working at his father’s oil company which was located in Oklahoma. He was also running his oil company in Tulsa from which he made his first million. That occurred in the month of June 1916. His first drilled oil well was the Nancy Taylor No. 1 Oil Well which was located near Haskell, Oklahoma. That well was the reason behind his success.

A Life of Playboy

When he became a millionaire himself he got diverted from the way of his business. He was very fond of women. After one year from drilling his first well in 1917 he announced his retirement and went to Los Angeles to enjoy his life with women there. Although he returned to his business but the time had changed and he lost his respect in the eyes of his father. His father believed that he would destroy the family business.

He was very colored man and he enjoyed his life with so many women. He spent a lot of money on women. He also had fortune in his business, despite of spending a lot of money on women his business was growing. In 1920s his life witnessed so many marriages. He married five times throughout his life. He was just playing a game of marriage and divorce. Because of his that nature his father was very much frustrated. His father died in 1930.

Founder of Getty Oil

He had a great investing mind and a marvelous luck in his personality. He accumulated so much money. Some money was acquired from his business while remaining was inherited from his father. By combining both he became a billionaire. That money was his weapon and at the time of the Great Depression by using that money he acquired so many oil companies which included Pacific Western Oil Corporation, Mission Corporation which comprised of Tidewater Oil and Skelly Oil. After getting all these companies he merged them with his own company and founded a new oil company named Getty Oil. He did this in 1967.

Getty Oil

Getty Oil is a multinational company of America in the field of oil production. It was based in America. It was founded by J. Paul Getty. In 1971 he founded another division in terms of real estate, which was founded for managing the needs of Getty stations, that division was named as the Getty Realty. It products were marketed under the brand name of Getty Oil. In 2000 Getty Group was sold to a Russian oil company named Lukoil.

Death

He died on 6^th June, 1976. He was regarded as a successful American industrialist.