The Gettys: When Billions Can’t Save Your Family
Old Money Luxury Old Money Luxury
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 Published On Oct 15, 2023

In the history of "Old Money" families in America, sadly there is perhaps no word more closely tied to public “tragedy” - accompanied by world-changing wealth and political influence - than the name "Kennedy."

And yet, what if we were to tell you that there is one particular family—with more money than J.F.K. and his descendants could ever dream of—who seemingly courted tragedy and scandal at a breakneck speed that would make even a Kennedy shudder with pity?

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TIMESTAMPS
0:00 Introduction
1:36 Chapter 1: “I’m An Oil Man”
6:19 Chapter 2: The Burdens and Benefits of Wealth
13:05 Chapter 3: Scandals and Shadows
15:57 Chapter 4: A Tragic Legacy Reimagined

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Our story begins in the year 1855 - under the shadowed skies of Allegany County, Maryland.

Here, one George Getty was born - a harbinger of a family destined to wield immense power and wealth - but not without a cost.

Young George’s childhood was stained with hardship.

After a move to Ohio, the child experienced the shattering loss of his father at just six years old.

Yet, financial aid from his Uncle Joseph lifted George from these early tribulations - steering him toward Ohio Northern University - and the industrious lad emerged in 1879 with a Bachelor of Science - and an unquenchable thirst for more.

Lured by the law, George further honed his intellect at the University of Michigan Law School - finally settling in Minneapolis to specialize in insurance and corporate law.

But the year 1882 whispered something darker in his ear—a call he couldn't resist.

Though George didn't formally enter the oil industry until 1904, this year marked a rebellious turn.

Driven by a fascination with natural resources, he made a choice that carried an undertone of menace - he abandoned a thriving law career - pulling his family into the unpredictable whirlpool of the oil trade in Oklahoma.

Over the next few years, J. Paul Getty would soon emerged as the undisputed captain steering the family's financial ship.

The decade of the nineteen thirties was a stormy period - not just for the Gettys but for the world at large.

The Great Depression raged - toppling empires of commerce and casting a pall of uncertainty across industries.

Amid this economic maelstrom, J. Paul Getty and his mother - Sarah - took a significant step in 1934 by creating a trust with both of them as trustors.

Ostensibly aimed at preserving the integrity of their underlying corporate assets, this trust set the stage for a protracted battle for control.

However, over the years, J. Paul would make incremental but impactful moves to consolidate his power.

And these financial gambits were anything but straightforward - they involved taking on substantial debt and complex negotiations that spanned years.

He then gradually acquired shares - thereby accumulating the voting power essential to influence the trajectory of the family business.

Indeed, it was a slow-burning coup - methodically executed.

His mother, Sarah Getty - who had been the initial custodian of the family's legacy - found her control progressively weakened.

In 1971, the unveiling of the now legendary Getty Museum punctuated the family's towering influence.

With its twin bastions in Los Angeles—the Getty Villa and Getty Center—the institution stands as a sanctuary of visual wonders, from ancient relics to modern snapshots.

Drawing nearly two million pilgrims yearly, its hallowed halls and tranquil landscapes elevate it beyond mere tourist attraction.

However, the museum's very existence casts a dual shadow—as a monument to amassed fortune and as a lighthouse for art appreciation.

In 1976, J. Paul Getty, took his final bow from the world stage - leaving a fortune that staggered the imagination—an estimated 4 billion - or twenty seven billion in 2023 dollars.

In 1960, the world welcomed Mark Getty - another luminary in the famed Getty lineage.

Born in Rome but raised in England, Mark's academic pursuits in Philosophy and Politics at St. Catherine's College, Oxford - set the stage for an illustrious career.

But he wasn’t just another businessman - Mark revolutionized the landscape of visual media.

Getty Images soon dominated the market - a colossus in the field of stock photography - commanding the visual narrative that shaped public perception.

Then, in 1992, Los Angeles welcomed Nats Getty into its complex fold.

A dazzling blend of model, designer, socialite, and advocate for LGBTQ rights, Nats burst onto the scene in a style far removed from the reserved legacy of “old money” families like The Gettys.

Nats’ marriage to Canadian socialite and YouTube sensation Gigi Gorgeous was a spectacle that seemed almost surreal.

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