Starting in 1949, J. Paul Getty negotiated a series of lucrative oil leases with Saudi Arabia and Kuwait. Gordon Getty and his family inherited a 40% interest in the company when J. Paul Getty died in 1976.[1]

In 1984, after entering into a binding agreement to sell Getty and its 2.3-billion-barrel stockpile of proven oil reserves to Pennzoil, Gordon Getty struck a dramatic deal to sell the company to Texaco.[2]

On November 19, 1985, in the case of Texaco, Inc. v. Pennzoil, Co., Pennzoil won a US$10.53 billion verdict against Texaco in the largest civil verdict in U.S. history as a result of the violation of the binding agreement.[3]

While the reserves were sold, only some of the refineries changed hands, and Getty continued to exist as a downstream entity. Getty gas stations in the Northeast were sold off as a condition of the buyout. The company became known as Getty Petroleum Marketing Inc.[citation needed]

Getty Petroleum Marketing was sold to Lukoil and Mobil in certain areas and then in 2011 to Norwegian investors before filing for bankruptcy protection in 2013.[4]

The Australian company Westerhoudt AG, run by Olaf Westerhoudt, acquired the rights to the Getty Oil name in 2007 for an undisclosed amount.

At one point, Getty Oil owned a majority stake of ESPN, before it was sold to ABC in 1984

>>5241666

SAUCE:

https://en.wikipedia.org/wiki/J._Paul_Getty#cite_note-3

http://archive.fortune.com/magazines/fortune/fortune_archive/1986/03/17/67242/index.htm

(FORTUNE Magazine) – In 1957 FORTUNE presented a ranking of the largest American fortunes. To the amazement of just about everybody, the list was not topped by a Rockefeller or Mellon or Whitney or Astor, but by Jean Paul Getty, a 64-year-old expatriate then living in Europe who had made his money in oil. FORTUNE credited him with a net worth of $700 million to $1 billion. A new business celebrity had been created. At first Getty professed annoyance at his public status. I'll have to change my name if I expect to get any peace, he said. Deep down, though, he seemed rather pleased. It was just that he wasn't sure it was proper for him to say so. For the rest of his life (he died at 83 in 1976) Getty exhibited no yearning to crawl back into obscurity. Nevertheless he remained something of an enigma and a challenge for biographers. Robert Lenzner, a correspondent for both the Economist and the Boston Globe, has now produced a solid biography, The Great Getty (Crown, $18.95). Although he did not receive formal authorization from the Getty family, several of its members agreed to be interviewed, and Lenzner also talked to dozens of his subject's friends and acquaintances. (Some of these sources also appear to have spoken to Russell Miller, whose The House of Getty will soon be published by Henry Holt.) Although he quit college to make his first million as a wildcatter, Getty appeared to have an intellectual bent. He read a lot and wrote several books, with and without ghosts. One of his books was a study of Europe in the 18th century (his favorite epoch). And yet he could be incredibly naive about political matters. His lack of caution about the friends he made and his spontaneous statements of admiration for Nazi Germany led to his being investigated by the FBI just before the U.S. entered World War II. After Pearl Harbor, Lenzner reveals, J. Edgar Hoover personally approved an order for Getty's custodial detention as a potential enemy. The order was never carried out, and ultimately Getty was put in charge of a defense plant making spare parts for planes.

>>5241696

J. Paul Getty, a symbol of oil, wealth and power, died early today at his country mansion near London. He was 83 years old. The cause of death was reported to be heart failure.

An American by birth, Mr. Getty had lived in Britain for nearly 25 years. He had been in failing health for several months.

Business associates who announced Mr. Getty's death said that the directors of the Getty Oil Company, of which Mr. Getty was still president, had already provided for the delegation of authority within the company and that normal business operations would continue.

The precise extent of Mr. Getty's wealth was difficult to compute, but in 1974 business associates put his fortune at from $2 billion to $4 billion. He had a majority or controlling interest in the Getty Oil Company and nearly 200 other concerns.

Mr. Getty tended to be reclusive in his last years. He spoke several times of wanting to return to Southern California, where he had lived for many years–but he never did. On his 80th birthday, dukes and duchesses, counts and countesses, bankers, business leaders and dressmakers turned up for a London party at which Margaret, Duchess of Argyll, was the hostess. A vocalist summed it all up by singing to the Cole Porter tune:

You're the top, your are J. Paul Getty you're the top, and your cash ain't petty.

In 1957, when Fortune magazine first suggested that Jean Paul Getty was probably the world's richest private citizen, he was asked the inevitable question: how much would he really get in cash if he were to sell his oil, realty, art and other holdings? A note of gone- are-the-better-days crept into his response. "I would hope to realize several billions," he said. "But, remember, a billion dollars isn't worth what it used to be."

https://archive.nytimes.com/www.nytimes.com/learning/general/onthisday/bday/1215.html

>>5241734

Sauce?

>>5241690

The 2017 film All the Money in the World – directed by Ridley Scott and adapted from the book Painfully Rich: The Outrageous Fortunes and Misfortunes of the Heirs of J. Paul Getty by John Pearson – is a dramatisation of the abduction of Getty's grandson. Kevin Spacey originally portrayed Getty. However, after multiple sexual assault allegations against the actor, his scenes were cut and re-shot with Christopher Plummer,[52] who was nominated for the Academy Award for Best Supporting Actor for the performance.[53]

The kidnapping is also dramatized in the first season of the American anthology drama series Trust, in which Getty is portrayed by Donald Sutherland.[54]

Ronald Virgil Pelosi

is an American businessman and public figure in San Francisco, California.

Pelosi was born in San Francisco in an Italian-American family on November 2, 1934,[2] and was reared in that city. He has a brother, Paul. He earned a bachelor's degree in American history from Stanford University in 1956, the same year he was married to Barbara Newsom in 1956; they were divorced in 1977. He was remarried in 1979, to Susan Ferguson. His children were Carolyn and Cynthia (died 1970), Brennan, Matt Pelosi, Laurence (born 1971) and Andrew (born 1981).

He is the brother-in-law of Nancy Pelosi, former minority leader of the U.S. House of Representatives and its current Speaker. He is a former uncle-by-marriage of California Lieutenant Governor and Governor of California, Gavin Newsom.

Dec. 11: Dianne Feinstein, San Francisco's first female mayor, defeats Supervisor Quentin Kopp and wins a full four-year term to the office she inherited after the slaying of Mayor George Moscone. In the runoff election for supervisors, incumbents Gordon Lau, Lee Dolson, Ron Pelosi and Bob Gonzales are defeated, and incumbent Supervisor Harry Britt is elected.

>>5241644

Hambrecht & Quist (H&Q) was an investment bank based in San Francisco, California noted for its focus on the technology and Internet sectors. H&Q was founded by William Hambrecht and George Quist in California, in 1968.

Hambrecht & Quist Group, the San Francisco investment banking firm that financed such companies as Apple Computer and Netscape Communications, said yesterday that it will sell out to Chase Manhattan Corp. for about $1.35 billion in cash.

H&Q is the last of San Francisco's three powerful home-grown investment banks to sell out to a large, out-of-state bank. Montgomery Securities sold out to Nations Bank in 1997 and Robertson Stephens was acquired by BankAmerica the same year. When Nations Bank bought BofA, Robertson Stephens was sold to BankBoston.

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The three investment banks helped finance hundreds of Silicon Valley companies.

H&Q, which will be renamed Chase Securities West, will be integrated

Apple Computer IPO 1980

H&Q was an early player in the technology sector, underwriting initial public offerings (IPOs) for Apple Computer, Genentech, and Adobe Systems in the 1980s. In the 1990s, H&Q also backed the IPOs of Netscape, MP3.com, and Amazon.com.[1]

Competition in the investment banking industry in the late 1990s limited H&Q's ability to grow as an independent firm, and in 1999 Hambrecht & Quist was acquired for $1.35 billion by Chase Manhattan Bank. H&Q was originally to be renamed "Chase Securities West" but ultimately was renamed "Chase H&Q" after marketing research revealed the H&Q brand name was still valuable. This unit eventually lost the H&Q name and became part of JPMorgan Chase.[2] The H&Q name lives on in the closed-end healthcare funds managed by Hambrecht & Quist Capital Management in Boston.

>>5241644

After Newsom retired from the bench in 1995, he became administrator of Gordon Getty’s own trust, telling one interviewer, “I make my living working for Gordon Getty.” The trust provided seed money for the PlumpJack chain of restaurants and wine shops that Newson’s son, Gavin, and Gordon Getty’s son, Billy, developed, the first being in a Squaw Valley hotel.

Gavin Newsom had been informally adopted by the Gettys after his parents divorced, returning a similar favor that the Newsom family had done for a young Gordon Getty many years earlier. Newsom’s PlumpJack business (named for an opera that Gordon Getty wrote) led to a career in San Francisco politics, a stint as mayor, the lieutenant governorship and now to the governorship, succeeding his father’s old friend.

He’s keeping it all in the extended family.

Gavin Newsom wasn’t born rich, but he was born connected — and those alliances have paid handsome dividends throughout his career.

A coterie of San Francisco’s wealthiest families has backed him at every step of his political rise, which in November could lead next to his election as governor of California.

San Francisco society’s “first families” — whose names grace museum galleries, charity ball invitations and hospital wards — settled on Newsom, 50, as their favored candidate two decades ago, said Willie Brown, former state Assembly speaker and former mayor of the city.

>>5242240

Sauce me. Who is this bitch?.