J. Paul Getty: The Real Story Behind The Man With All The Money In The World

How J. Paul Getty Became A Billionaire

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After World War II, J. Paul Getty made one of the riskiest business maneuvers of his career. In 1949, Getty paid King Ibn Saud $9.5 million in cash for a 60-year concession in a tract of barren land in the Neutral Zone between Saudi Arabia and Kuwait, also agreeing to pay $1 million a year whether or not oil was struck since no oil had been previously found there. Four years and $30 million later, the deal paid off and Getty’s field produced upwards of 16 million barrels a year since 1953. This major gamble was key in making J. Paul Getty a billionaire.

Growing up with wealth and acquiring it on his own accord wouldn’t be enough to make Getty a generous man, as you’ll soon learn.