For the contemporary lists, see List of Americans by net worth and Forbes 400.. Oh and if that isn’t enough, the true tycoon lives in one of the world’s most expensive properties, rumoured to have cost between $1 and $2 billion. William Henry Vanderbilt picked up where his father left off and expanded the dynasty's railroad empire with aplomb, while donating vast sums to charitable causes. The following year, the business magnate sold his steamship concerns to focus 100% on railroads and went on to create the New York Central and Hudson River Railroad company, one of America's first mega-corporations. Born in Frankfurt in 1777, the German financier moved to England in 1798, setting up textile and banking businesses that netted him big bucks. In 1977, Bush Jr. established his own oil refinery, Arbusto … As the patriarch of the Getty family, J. Paul Getty was an influential petrol-industrialist who founded the Getty Oil Company. Striking this 'black gold' is the ultimate game-changer in any playing field but while historically the oil boom was firmly associated with the United States, the tables have turned somewhat in more recent years. The oil-rich Middle East, in particular Saudi Arabia, is now famed for its fields of black gold. The result is that, today, the majority of the world’s oil tycoons are not from the Rockefeller or Hunt families but are instead former Soviet civil servants who learnt about the industry from the inside out. The oil magnate made his first charitable donation at the age of 16, and stepped up the giving in the 1890s following a meeting with Indian Hindu monk Swami Vivekananda, who urged the tycoon to be more magnanimous with his money. Anyone who knows a thing or two about rich lists knows that oil can make or break a man - or indeed, a nation. At the time of his death in 1947, the automotive pioneer's net worth was reportedly around $200 billion in 2021 dollars. A … Rockefeller received bumper stock options and, by 1913, his wealth peaked at around $900 million, equivalent to $23.5 billion in today's money. Getty maintained his grip on the global oil industry throughout the 1960s and was declared the world's richest person in 1966 by the Guinness Book of Records with a fortune of $1.2 billion, which is $9.6 billion in today's money. That year, the legendary investor's net worth peaked at $62 billion, the equivalent of $74.5 billion today, making him richer than any other person on the planet during the 2000s. The fall of the Soviet Union meant big business for those with their eye on this liquid asset and there were many in Russia who pounced on the prize as soon as it became available. Ross Perot On The Forbes Four … Best & Worst Refinance Mortgage Companies of 2021, 19 Great Ways To Supplement Social Security Every Month That Many Didn't Know, Expert: “This credit card is so good I signed up personally”, © Rockefeller Archive Center/Wikimedia Commons, © Theo Wargo / Getty Images for the Huffington Post. Keeping with all things Russian, German Khan is one of our top ten richest oil tycoons. Judging by the reputation of most of Khan's contemporaries, we are not at all surprised. Plenty of cash to indulge in his favourite pastime, collecting art. Establishing their infamy, the brothers were also the subjects of a controversial documentary entitled “Koch Brothers Exposed” by director Robert Greenwald. Under the Soviet government, Alekperov became a Deputy Minister of Oil and Gas and from here Alekperov really made his leap to the billions. Our look at the top ten wealthiest oil tycoons demonstrates this shift to the East but there are still a couple of surprises. Nevertheless, he was among the richest presidents both before and after he was elected. The New York Times obituary stated that he had a net worth of $341 billion. By the 1940s, Ford had risen to become the wealthiest person the planet. By the time of his death in 1831, the philanthropic financier's wealth was around 1/150th of US GDP at $7.5 million, which is equivalent to $182.2 million in today's money. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Kaiser-Francis Oil started off as a small drilling and oil prospecting company. Born to a poor Scottish family that immigrated (moved) to the United States, Carnegie became a powerful businessman and leading force in the American steel industry. Posts about oil tycoons written by Aron Brock. But they’ve since shown a One of the richest men who ever lived, Cornelius Vanderbilt or ‘The Commodore’ was a magnate and philanthropist who earned his wealth through shipping and railroad building. However, the success of the Middle Eastern oil industries has been a contributing factor in political unrest and battles for the precious resources: from the Gulf Wars to the more recent ousting of Gaddafi in Libya, turmoil in the Middle East reveals the extent to which this limited natural resource is still contested asset. 1. By Steve Hargreaves @hargreavesCNN June 2, 2014: 6:18 PM ET . July 1, 2020. in Billionaires. or the Bangboxo For the contemporary lists, see List of Americans by net worth and Forbes 400.. There, he met his future billionaire buddies. By 2006, he had fallen off the Forbes list. When he died in 1976, Getty had a net worth of $6 billion, about $27.3 billion when adjusted for inflation. Finding oil is pretty much an instant introduction to the world of the high-flying billionaire and its discover brings success to businesses, financial sectors and investors in the region. Where Alexei Kuzmichev and his ilk for many represent the new world, new money and for that matter new oil. John Jacob Astor was born in Walldorf, Germany in 1763 and emigrated to America at the age of 21 where he entered the fur trade, building up a lucrative monopoly. The bogeymen of the Democratic Party inherited their fortunes, along with the family business, from their father, Fred. John D. Rockefeller’s standard oil company “controlled 90% of American oil production” in the 1880s. LUKoil was the first Russian company to trade on the New York stock exchange in part accounts for the simplification of the name. If you’ve been looking for the answer to Oil tycoon once considered the richest living American, we’re happy to share that you can find it here with us. That year, the tech tycoon was worth $12.9 billion, which is around $21.9 billion in today's money. That is 15 more than there were just two years ago. Like many a billionaire, this Russian is known for his love of art; but in 2004 Vekselberg trumped the lot by acquiring the fabled collection of Fabergé eggs- glittering, jewel-encrusted treasures gifted to Russia’s royal family and lost after their deaths in the Russian Revolution. 1973-07-10 John Paul Getty III, grandson of oil tycoon J. Paul Getty, is kidnapped in Rome by Italian gangsters wanting a ransom; 1973-12-15 American kidnap victim John Paul Getty III freed after ransom paid by oil tycoon grandfather John Paul Getty; 1986-11-01 Breeders' Cup Horse Racing, Santa Anita Racetrack; winners: Brave Raj, Capote, Lady's Secret, Last Tycoon, Manila, Skywalker, Smile In the 1890s, the oil baron expanded into iron ore and natural gas, and had huge influence over the country's railroad industry. Getty maintained his grip on the global oil industry throughout the 1960s and was declared the world's … Born in Dunfermline, Scotland in 1835, the Scottish-American industrialist spearheaded the expansion of the steel industry in the US, stockpiling a fortune. 5. Their company, Koch Industries, was founded by their father Fred who developed a new method for refining oil into gasoline. 8. Off the back off Tesla's bumper 2020, CEO Musk saw his wealth boosted by more than $140 billion and he is now worth $190 billion, while Bezos is worth $188 billion, according to Bloomberg's Billionaires Index. Fridman is a buddy of Vekselberg (and his Fabergé eggs) and associates with fellow tycoons Kuzmichev and Khan in their oil ventures with TNK-BP. The partial sale of the oil company to the state-controlled Rosneft (for $28 billion in 2012) personally scored Khan $3.3 billion. For many, Ambani is representative of the modern India with the mogul outspoken in favour of advancing the country both economically and culturally. Educated in Moscow, the comparatively young 49 year old is known to have the refined taste of any billionaire, and has established a jazz festival in his hometown of  Lviv in the Ukraine. J. Paul Getty was born in 1892 in Minneapolis and began investing in the oil industry in his early 20s. Since the sale of the TNK-BP oil company in 2012, Fridman’s attentions have remained with Alfa Group: The company controls a number of subsidiaries including the Alfa Bank, which he established with his fellow billionaire buddies in 1991. Sheikh Mohammed Al Amoudi is reminder on our list that it isn't just the Russians who know about oil. Fresh-faced journalist with an interest in media, tech, culture and society. At one point in 1999, Gates' net worth was more than $100 billion, or $155 billion adjusted for inflation. Girard racked up an immense fortune importing and exporting goods in the bustling city, and became the richest private individual in the world by 1810. Like Carnegie, Rockefeller was famed for his philanthropy. Source of wealth: Oil tycoon, Founder of Standard Oil John Rockefeller is the second richest civilian in history. At 63, Alekerpov  has been in the oil business for quite a while: he began his career working on a Soviet oil rig in the Caspian Sea, just the beginning of a very lucrative career. Rockefeller was born on July 8, 1839 in the small town of Richford in upstate New York. He gave almost his entire fortune to charity, including orphanages, libraries and schools in Philadelphia and New Orleans. After starting life as a ship’s hand on his father’s ferry, he soon began operating his own boats, hence the sobriquet ‘The Commodore’. They say everything is bigger in Texas. When not writing for The Richest, I am most likely to be found sipping from coffee cups the size of my head. This tycoon studied engineering at the university in which he worked under Gorbachev’s twilight zone for the Soviet Union. When he died in 1836, Rothschild was worth the equivalent of 0.62% of British national income. Read on for Time magazine’s loaded list of the top ten richest people in history… 10. Dan Alexander, Forbes. Our solution will help you finish your crossword. This oil tycoon might be hurting the environment, but his family are balancing out their karma: From a $3 billion fund, the George Kaiser Family Foundation annually donates millions of dollars towards early childhood education. While Fred and his wife Mary had four sons, it is David and Charles who today head up Koch Industries which is now the second largest private company in the United States, with sales of $115 billion annually. In 2009, Berkshire Hathaway reported its worst ever financial results and Buffett's net worth plunged. Born in 1863, the founder of the hugely-profitable Ford Motor Company revolutionized vehicle manufacturing and brought the car to the mass market, selling millions of vehicles during his lifetime. Who was the richest person in the world in 1820, 1900 or 1960? A fresh take on sports: the biggest news and most entertaining lists. Born in upstate New York in 1839, Gilded Age tycoon John D. Rockefeller co-founded Standard Oil in 1870 and went on to control a staggering 90% of all oil refined in the USA, later becoming the world's first billionaire in 1916. German Khan is no quiet partner however, serving as executive director of the co-owned oil empire, TNK-BP. In spite of concerns that the use of oil is both harmful to the environment and unsustainable in the long run, there seems to be no end to the wealth coming from these oil rich-states. 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