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J. Paul Getty

also referred to as: j paul getty

25 statements across 2 episodes · 12 bullish · 2 bearish · 1 people on the record · first statement Jul 9, 2024 by David Senra · said 453 times in 4 episodes since 2024 · across every show →

Mentions by year

brought up most by David Senra (453)

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2024 453 mentions in 4 episodes 113 per episode

every mention, scene by scene, with the transcript →

Everything said about J. Paul Getty, oldest first

Jul 9, 2024 bullish
Assertion Supported
During the Great Depression, public shares traded at 1/20th of asset value
“There were shares selling for as little as a 20th. Of their net underlying asset value. That means anyone who purchased them was in effect buying 20 dollars for every dollar he spent.”
David Senra Jul 9, 2024 ▶ 41:03 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Assertion Partly supported
Getty grew his inherited $15M oil company to over $1 billion
“When he inherits and takes over his dad's company, it's worth fifteen million dollars in 1930. 20 years later, that company is valued well over a billion dollars. It is J. Paul Getty that is responsible for that value creation from 15 to well over a billion do…”
David Senra Jul 9, 2024 ▶ 4:18 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Insight
Great businessmen seize once-in-a-lifetime opportunities even when they cannot afford them
“There are times when certain cards sit unclaimed in the common pile, when certain properties become available that will never be available again. A good businessman feels these moments like a fall in the barometric pressure. A great businessman is dumb enough …”
David Senra Jul 9, 2024 ▶ 42:21 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Insight
Taking final responsibility justifies a leader's rewards and privileges
“When the man in charge, it could be a candy factory, a drilling operation, or the nation's government accepts direct final responsibility. He makes full advanced payment for the rewards and privileges he receives. He is released from any need to feel beholden …”
David Senra Jul 9, 2024 ▶ 24:33 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Assertion Supported
Getty's $500 oil lease yielded 700 barrels of oil per day
“He gets the lease for a shockingly low price of 500 dollars starts drilling and the well starts coming in at 700 barrels of oil a day.”
David Senra Jul 9, 2024 ▶ 13:50 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Assertion Supported
Getty unretired at 24 after finding a life of leisure intolerable
“Other men were bringing in gushers. They were opening up new fields. I opened up nothing that could possibly gush except for far too many champagne bottles. This state of affairs first nagged, then gnawed, and finally became intolerable. I unretired.”
David Senra Jul 9, 2024 ▶ 15:36 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Assertion Supported
Getty was one-third as rich as Hearst in 1935, twice by 1950
“In 1935, I was one-third as rich as Hearst, and by 1950, I was twice as rich.”
David Senra Jul 9, 2024 ▶ 29:44 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 negative
Insight
Entrepreneurs who use credit sparingly have the greatest chance of success
“However, I have always believed that the businessman who uses credit the most sparingly is the one who has the greatest chance for achieving success.”
David Senra Jul 9, 2024 ▶ 28:47 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Assertion Supported
Getty owned over 200 different businesses in his later years
“And so at the time he's writing these words, he's got, he owns over 200 different businesses.”
David Senra Jul 9, 2024 ▶ 19:12 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Assertion Supported
Getty was the richest private citizen while writing his autobiography
“When he's writing it, J Paul Getty is considered the richest private citizen in the world. He's also writing it in the last year of his life.”
David Senra Jul 9, 2024 ▶ 0:49 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 neutral
Assertion Supported
Getty began his oil career as a roustabout making $3 daily
“I would receive the roustabouts going wage, which was three dollars a day for a 12 hour shift.”
David Senra Jul 9, 2024 ▶ 6:53 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Assertion Not checkable as stated
Aristotle Onassis attended high-stakes meetings alone and easily held his own
“Very often, I had a retinue of assistants, executives, attorneys, and engineers with me. Aristotle would come to such meetings alone, yet he easily held his own on all points that were discussed.”
David Senra Jul 9, 2024 ▶ 31:06 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Assertion Supported
Getty refused a ransom demand to protect his 14 other grandchildren
“His whole point is, like, I got 15 other grandchildren. If I just keep immediately, you know, paying out money, I'm signaling to the world that if you want to make money, just kidnap one of my kids.”
David Senra Jul 9, 2024 ▶ 58:03 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Insight
It is exceptionally difficult to overpay for a truly great business
“It sounds so silly to say it, but it's truly hard to overpay for a truly great business.”
David Senra Jul 9, 2024 ▶ 50:28 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Assertion Supported
Getty made $1 million and retired by age 24
“J Paul Getty is going to start his own oil company at 22, and he's going to make a million dollars, and he's going to retire at 24 years old.”
David Senra Jul 9, 2024 ▶ 9:48 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024
Assertion Supported
Getty's Saudi concession required $10.5M upfront, royalties, and 25% of profits
“He had to pay the Saudi Arabian government an immediate cash of 10.5 million dollars. We have to pay them a million dollars a year and a 55% per barrel royalty on all oil produced. We have to pay 25% of our net profits to the Saudi Arabian government.”
David Senra Jul 9, 2024 ▶ 51:46 J. Paul Getty: The Richest Private Citizen in America
Jul 9, 2024 positive
Insight
Hands-on working bosses earn the respect of frontline manual workers
“An oil man who was a working boss, and that's what he considered himself, a working boss, enjoyed a distinct advantage. Oil field workers, they're also known as roughnecks, riggers are drillers were, and still are a fiercely proud and clannish lot. When a boss…”
David Senra Jul 9, 2024 ▶ 25:31 J. Paul Getty: The Richest Private Citizen in America
Jul 10, 2024
Insight
Senra: Moving against prevailing business consensus invites severe obstruction and derision
“The businessman who moves counter to the tide of prevailing opinion must expect to be obstructed, derided, and damned.”
David Senra Jul 10, 2024 ▶ 16:54 How To Be Rich by J. Paul Getty
Jul 10, 2024 positive
Insight
Getty: Successful business leaders are generalists across all operations, not narrow specialists
“The successful businessman is no narrow specialist. He knows and understands all aspects of his business. He can spot a production bottleneck as quickly as he can an accounting error.”
David Senra Jul 10, 2024 ▶ 58:55 How To Be Rich by J. Paul Getty
Jul 10, 2024 negative
Insight
Getty: The line between majority opinion and mass hysteria is virtually invisible
“I found that the line which divides majority opinion from mass hysteria is often so fine as to be virtually invisible.”
David Senra Jul 10, 2024 ▶ 57:14 How To Be Rich by J. Paul Getty
Jul 10, 2024
Insight
Resolve urgent crises by pitching top decision-makers directly
“And then he knows you have to aim straight for the top. You have to go to the ultimate decision maker because the president of shell can look how fast he can move.”
David Senra Jul 10, 2024 ▶ 13:43 How To Be Rich by J. Paul Getty
Jul 10, 2024 positive
Insight
David Senra: Wealth comes from long-term asset ownership, not trading
“All the money is in the long term. You want to own, not trade.”
David Senra Jul 10, 2024 ▶ 53:51 How To Be Rich by J. Paul Getty
Jul 10, 2024 positive
Insight
Senra: Optimism is a moral duty while pessimism aborts opportunity
“The way I think about what Getty is teaching us right now is that optimism is a moral duty and that pessimism aborts opportunities.”
David Senra Jul 10, 2024 ▶ 22:01 How To Be Rich by J. Paul Getty
Jul 10, 2024
Assertion Supported
Shell broke a competitor boycott against Getty by buying 1.7M barrels
“As a starter, the company would buy the next 1.7 million barrels of crude oil that I produced. In addition, Sir George told me, a pipeline would be constructed to link my wells with the Shell Oil Company's pipeline network, and construction was to commence the…”
David Senra Jul 10, 2024 ▶ 13:03 How To Be Rich by J. Paul Getty
Jul 10, 2024 positive
Assertion Partly supported
Getty produced 13B oil barrels from the Saudi neutral zone
“He gets this concession from the king of Saudi Arabia. And what's crazy is in the neutral zone, they're going to wind up producing. Getty's going to wind up producing. Thirteen billion barrels of oil.”
David Senra Jul 10, 2024 ▶ 17:56 How To Be Rich by J. Paul Getty
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