With a great fortune of billions of dollars, John Paul Getty It became one of the most influential figures of the twentieth century. However, his legacy was not only marked by his success in the oil industrybut also for its reputation of being extremely mean. The story that reflects the best occurred in 1973, when his grandson was kidnapped And the tycoon refused to pay the rescue.
This shocking event monopolized headlines around the world and showed the coldness with which Getty even managed family issues. Despite the pleas of his son and his grandson’s anguish in captivity, the businessman decided dribble The required amount and, when he finally agreed to pay, he did it with unusual conditions.
Who was John Paul Getty
Born in Minnesota In 1892, John Paul Getty grew in a family linked to oil business. His father, George Franklin Getty, instilled in him the importance of personal effort and imposed the condition of not receiving financial support after a certain age. This motivated him to look for his own way in the business world.
From a young age, the tycoon worked in the oil wells of his family with a modest salary. However, his strategic vision allowed him to acquire small wells in California At low prices, which generated his first big profits. In 1916, he achieved his first million dollars, marking the beginning of his empire.
In 1942, he founded the Getty Oil Company, consolidating its position as leader of the energy sector in the United States. His fortune grew exponentially and, in 1957, the magazine Fortune He was appointed the richest man in the country. In 1966, Guinness World Records recognized him as the most wealthy billionaire in the world.
Despite his enormous wealth, Getty was known for his aversion to spend money, Even in his personal life. He moved to England in the 50s and directed his business from his mansion in Sutton Place, where he lived until his death in 1976, leaving a legacy that combined financial success and family controversy.
The history of the kidnapping of John Paul Getty III
In 1973, John Paul Getty IIIgrandson of the tycoon, was kidnapped in Rome by the Calabresa Mafia ‘Ndrangheta. The kidnappers initially demanded 17 million dollars Because of his release, but Getty’s response was blunt: he refused to pay, arguing that doing so could put his other grandchildren at risk.
The family of the young man desperately tried to convince the billionaire to access the demand. However, Getty suspected that kidnapping could be a strategy of his family to get money from him. Only when the captors sent a package with a strand of hair and a piece of the ear of the young man, Getty agreed to negotiate.
Even so, the tycoon did not abandon his business style even in this family crisis. He managed to reduce the rescue to 3 million dollars, but only agreed to pay 2.2 million, since it was the maximum tax deductible amount. The rest of the money lent him to his son with an annual interest of 4%.
After five months of captivity, John Paul Getty III was released on December 15, 1973. Although he survived kidnapping, his life was marked by trauma. He fell into a spiral of addictions that, in 1981, caused him a stroke that left him tetrapléjico. He died in 2011, without having managed to reconcile completely with his family.
Source: Ambito
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