The Ultimate Entrepreneur Course

J Paul Getty

Like Rockefeller, Getty built his fortune in the oil industry. Getty graduated from Berkeley and Oxford in 1914 before joining his father on his oil fields in Oklahoma. Getty, together with Trump, are the only two entrepreneurs in this book to have millionaire parents. Getty’s father paid him $100 a month to seek out prospecting land to buy. Getty toured around in a Model T Ford for a year, without any luck,before he finally spotted a promising piece of land. With a limit on the amount he could spend, and heavy competition at the auction, Getty tried a ruse. He got a prominent bank vice-president to bid without revealing who he represented. The other bidders assumed it was a major oil company with deep pockets and kept out of the fight and Getty got the piece of land for “the astoundingly low price of $500”. From this first move Getty showed his ability to make calculated moves while remaining in the background.

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