J. Paul Getty
Jean Paul Getty (December 15, 1892 – June 6, 1976) was an American industrialist. He founded the Getty Oil Company, and in 1957 Fortune magazine named him the richest living American, while the 1966 Guinness Book of Records named him as the world's richest private citizen, worth an estimated $1.2 billion (approximately $8.7 billion in 2014). At his death, he was worth more than $2 billion (approximately $8.3 billion in 2014). A book published in 1996 ranked him as the 67th richest American who ever lived, based on his wealth as a percentage of the gross national product. Preceding him in death by two months, Howard Hughes' estate was listed at $2.5 billion. But while Hughes had engaged in a great deal of philanthropy, despite his wealth,[clarification needed] Getty was known for being a miser. Getty was an avid collector of art and antiquities; his collection formed the basis of the J. Paul Getty Museum in Los Angeles, California, and over $661 million (approximately $2.7 billion in 2014) of his estate was left to the museum after his death. He established the J. Paul Getty Trust in 1953. The trust is the world's wealthiest art institution, and operates the J. Paul Getty Museum, the Getty Foundation, the Getty Research Institute, and the Getty Conservation Institute.