As we mentioned previously, when he died in 1976, his net worth was estimated at between 2 and 4 billion dollars. challenges them, it may well lose, thanks to their preparatory workor that, faced with this work and the legal uncertainties, itll just decide to settle. Leberman, the trust administrator, told me that the major portion of work was kept outside the State of California, and that the family intends to fulfill any and all tax obligations. In Shanskes view, this is a slender pledge; fulfilling narrowly conceived legal obligations, while avoiding taxes in a state so closely associated with the Getty family, undermines their claim to social responsibility. It taints everything., Marlena Sonn thought that she could help the Getty sisters expunge that taint, she told me one morning in November. According to Emmanuel Saez and Gabriel Zucman, economists at the University of California, Berkeley, the average tax rate on the top 0.01 per cent has fallen by more than half, to about thirty per cent, while rates for the bottom ninety per cent have climbed slightly, to an average of twenty-five per cent. Of his five wives, only Louise Lynch, his fifth and final, was included in the will she received $55,000 a year for life. And there isnt much of a market for a disgruntled wealth manager. In 1904 George embarked on a career in the oil industry, and within two years his Minnehoma Oil Company was a success. In her suit, she accused her former patrons of threatening to ruin her professional reputation if she went ahead with the case. People who inherited unbelievable fortunes Share the love Most Popular Features How Michael Jackson's kids make and spend their fortunes Features From Rockefellers to Rothschilds: how five old-money dynasties live today Investing and pensions Tax relief, investing, State Pension: the biggest pension myths Scarlett's inherited her wealth from her parents Karsten Olaf Johansson and Melanie Sloan. At stake is control of . Weve interviewed Trust consultants at your Dads house. Critics of global inequality call this stratum of business the wealth-defense industry, and have pushed Congress to impose taxes, eliminate loopholes, and restore narrower limits on American inheritance. A native of Minneapolis, he was the son of pioneer oilman George Getty.In 1957, Fortune magazine named him the richest living American, while the 1966 Guinness Book of Records named . Theodore Roosevelt took steps toward a progressive tax on inheritances, in the belief that a man of great wealth owes a peculiar obligation to the State, because he derives special advantages from the mere existence of government. A ten-per-cent estate tax went into effect in 1916; the Great Depression and the New Deal fuelled calls for higher levies, and by 1941 the top rate had climbed to seventy-seven per cent, where it remained for decades. It comes nearly six years after John's brother Andrew died of a hemorrhage in 2015 with a toxic level of methamphetamine in his system, and only two months after the death of their mother Ann, who died from a heart attack at age 79. Published: 07:18, 24 November 2020 | Updated: 15:25, 24 November 2020. The Pleiades Trust was officially administered from a small office complex a block from the Reno-Tahoe airport: Airport Gardens, which shared a parking lot with a private investigator and a hobby shop selling electric trains. By 2019, Senator Elizabeth Warren, of Massachusetts, was calling for people with fortunes of more than $50 million to give up two cents on every additional dollara formula repeated so often that crowds at her events began chanting, Two cents! Getty spent an additional $30 million of his own money ($300 million today) searching for black gold. Darien Shanske, a law professor at U.C. The Getty Family's Trust Issues Heirs to an iconic fortune sought out a wealth manager who would assuage their progressive consciences. Image: Getty Images) By. Getty Images. I wondered whether, working for the Gettys, she imagined herself as a sleeper cell, there to dismantle the system. The patriarch never paid much in taxes. Even compared with other wealthy skinflints, Paul was strikingly parsimonious. Gordon Getty has six other children. For Sarah, she was in Japan, then she was in New York, then shes in California. A RAGING and bizarre family fight is buffeting the Sarah C. Getty Trust, the chief beneficiary of last year's sale of Getty Oil to Texaco. She moved a million of it to Sonn, who agreed to invest it for an annual fee of one per cent of the assetsa standard industry rate. Illustration by Cristiana Couceiro; Source photographs from Getty, Thank you for waking me up from the witchs curse! I dont know why I continue to be active in business, he wrote in his diary in 1952, four decades after he first tried to retire. Who Inherited Getty Fortune, JP Getty Mistresses Family, American History Has Been Whitewashed, But, Black Teen Girls On TV Are A Mess Finally, the 1973 kidnapping of John Paul Getty III, 12 women who he knew from various points in his life, The Gettys Are Coming For This TV Show, Saying It Should Be Called "Lies". We had this crazy competition where states are trying to outdo each other in giving cushy tax situations, Lord said. Together they have a daughter named Stella Banderas and today, she's grown up to be a young woman. 1 Julia Louis-Dreyfus Sure, Julia Louis-Dreyfus made plenty of money as Elaine on Seinfeld, and she's raking in money from HBO in Veep right now. In 2021, Democrats proposed to narrow the angel-of-death loophole, expand the estate tax, impose a billionaires income tax, and eliminate some of the most popular trusts, including the GRAT. In March 2015, John's brother Andrew Getty was found dead by his girlfriend at a Hollywood Hills mansion, aged 47. A series of disclosures, beginning in 2016 with a leak from the law firm Mossack Fonseca, have revealed spectacular extremes of high-priced tax maneuveringwhich, among other consequences, brought down the leader of Iceland and embarrassed the Prime Minister of the U.K. And offers have been coming in. Dad who killed son, 3, in murder-suicide told Brit celeb stylist mum her hell had only just begun after snatching tot. Among other tactics, she helped Kendalle and Sarah buy real estate in New York, which could fortify their claim to dividing residency across multiple states. Jean Paul Getty Sr. (/ t i /; December 15, 1892 - June 6, 1976) was an American-born British petroleum industrialist who founded the Getty Oil Company in 1942 and was the patriarch of the Getty family. Four times a year, Kendalle and Sarah received a dense book of several hundred pages, detailing investment decisions. he asks, with an uncomfortable blend of mischief and monstrousness. And that I dont need to work. He died in 2011. Victoria inherited her 8% stake in the company when her father Forrest Mars Jr. passed away in 2016. Paul complained to his mother, who agreed to sell him her share of the company as a Christmas present. But, when inheritance patterns reach extremes, they wreak social and political havoc. In their current condition, taxes on American wealth are, effectively, on the honor system, with opt-outs for the flagrantly defiant. She had agreed to give her $2.5 million, in installments, but she stopped after the first payment; she said the family office had discouraged her from sending more. Her sister Kendalle, who declined to comment for this article, is fond of retweeting posts by Bernie Sanders: Billionaires get richer & pay less in taxes while millions are unemployed, kids go hungry, veterans sleep on the street. Ivy Getty continued to memorialize her father in her Instagram stories on Monday, Ivy Getty, 25, called her father, 'the most important man in my life', Ivy Getty is pictured with her parents including John, left, who passed away on Friday. Patriarch George Getty (1855-1930) was born in Maryland and studied to become a lawyer. Harry inherited more . "John leaves behind his daughter, Ivy Getty, whom he loved beyond measure, and his brothers Peter and Billy. Mary Teissler, the French art expert who persuaded Getty to purchase Sutton Place, received the next highest sum: $2,500 shares and $750 a month for life. Penelope Ann Kitson, an English interior decorator played by Anna Chancellor in the show, inherited the most: 5,000 shares of Getty oil stock worth $826,500, and $1,167 a month for life (that's. 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, J. Paul Getty married five times and had five sons, But despite his vast wealth, Getty was infamously frugal, Ivy paid a touching tribute to her father, Balthazar has starred in TV shows such as Twin Peaks, Late John Gilbert Getty plays guitar in rare clip shared by his daughter Ivy Getty, Getty family tree and net worth: From John Paul Getty and John Gilbert to Ivy, whos who in the American oil dynasty, Almost a third of couples admit to rows over which partner is greener. Another of Getty's sons, George, died in a suspected suicide in 1973. Blum told his colleagues, Conditions for leaving large sums have never been better, noting that Congress has not closed an estate-planning loophole in over thirty years. In a report from 2021, the Treasury Department estimated that the top one per cent of taxpayers are responsible for twenty-eight per cent of the nations unpaid taxes, amounting to an annual shortfall of more than $160 billion. The younger Irsay inherited the Colts after winning a legal battle with his stepmother over ownership. Im very against military and guns and weapons, and very pro-planet. Like many others I spoke to while reporting on Sonns dispute with the Gettys, Sarah described a feeling of captivity to industries and laws that enriched her but tried her conscience. 'I have 14 grandchildren and if I pay one penny ransom, I'll have 14 kidnapped grandchildren,' he said. Like Kitson, Teissler was Getty's lover. . The original Getty trusts were established in California, but advisers had moved Gordons to Nevada in 1995. My career in finance is over, Sonn said. Brooke Harrington, a Dartmouth sociology professor whose book Capital Without Borders examines the tools of tax avoidance, told me that families like the Kochs, the Waltons, and the Gettys have escaped the old adages about generational decline thanks to a perpetual-motion machine of wealth creation. Often, she said, the advisers job is protecting the fortune from the family. He will be deeply missed.'. John was a talented musician who loved rock and roll. The money that would have gone to Ronald would go to his four children, once the last Getty son died. One particular ritual was sacrosanct: four times a year, to maintain the claim that their trust was not run from California, they boarded jets to some locale beyond the state border, before casting their official votes on investment decisions. Better yet, if you cling to your winning stocks until you die, the moment that your soul departs your body it will take your capital-gains obligations with it. John's mother, Ann Gilbert Getty, passed this September, "John was a talented musician who loved rock and roll. That lucrative maneuvering is the realm of specialized attorneys, accountants, and money managers, many of whom work for family offices: in-house financial teams that typically include a dozen or so full-time attendants. When the story broke, Gordon was vacationing with his wife on a friends yacht in the Mediterranean; he released a statement acknowledging that he was the girls father, and proclaimed, I love them very much.. As for Getty's 26 descendants: They spent the next long while arguing vehemently about the division of the massive family trust. The same goes for auto racing and cattle ranching. ), But moving away for 1-2 years to avoid California taxes struck Sonn as a dubious charade. At the time of his death in 1976, Getty was survived by three of his five sons, 16 grandchildren, one great-grandchild, five ex-wives, and many mistresses. He loved and admired her because she was the only woman who would stand up to him. Penelope Ann Kitson, an English interior decorator played by Anna Chancellor in the show, inherited the most: 5,000 shares of Getty oil stock worth $826,500, and $1,167 a month for life (that's $5,100 in today's terms). Woman searching for the rest of Brian Laundrie's remains for five hours a DAY as his cause of death remains unclear, was found dead in a hotel in San Antonio, Texas, the model married photographer Tobias Alexander Engel in a San Francisco ceremony. Instead, he placed his his wife, Sarah at the helm and appointed his son the president of the firm. So, what happened to that wealth and the Getty family oil empire after J. Paul's death? John Gilbert Getty was due to inherit the family fortune before his sudden death on November 20, 2020, following complications from an accidental drug overdose. The lawyer was cagey about specifics, but eventually identified the prospect as KendalleP. Getty, a granddaughter of the oil tycoon J.Paul Getty. SECOND FAMILY:Gordon Getty had his own brush with scandal in 1999 when the father of four sons with his wife, Ann, acknowledged he had a second family in Los Angeles that included three daughters. All you need is a couple of bought-off senators., Still, the perversities of the tax code have become so glaring that even some of their most devoted protectors suspect that change is coming. Princess Diana - $31 million. If youre strategic enough, even less iconic brands can produce a dynasty. Even the dismembered parts of the realm were vast. By the end of the year, Kendalle had fired Sonn, too. The most devoted liken themselves to clergy or consiglieri, and tend to get prime seats at the kids weddings and the patriarchs deathbed. According to Fortune, Meghan Markle earned $3.15 million during her time filming television series Suits, while Time estimates her overall net worth to be around $5 million. According to the Los Angeles Times, the Gettys battle with their former financial adviser could serve as a roadmap for California tax investigators, should they choose to follow the route.. Its definitely up for discussion thats it. I've had enough of life': Grandmother, 86, is reduced to tears after killjoy Tory council destroys retirement garden she spent 17 years cultivating - branding it a 'fire hazard' and smashing it with a sledgehammer. (The average American bequest today is around forty-six thousand dollars, according to the Survey of Consumer Finances.) In January, 2021, Sarah fired her from ASG Investments, but she offered to work out a severance package, signing off, I love you. Sonn asked for a payout of about $2.5 million plus a years salary. As crazy as it sounds today, before Getty's arrival, Saudi Arabia was a desolate little Kingdom with basically no natural resources or wealth whatsoever. One detail in the governments superannuation tax change could have a major impact on young people, new analysis has revealed. The founder behind his eponymous fashion label insists however, that as much as a last name synonymous with wealth and power may facilitate access,having to deal with preconceived notions is an ongoing battle. As her duties expanded, Sonn assisted Sarah with insurance and real estate. 47-year-old Andrew Getty was found dead with traumatic injuries but, at this time, police do not suspect foul play. Luke Weil, an heir to a gambling-industry fortune, once told a documentarian that the prospect of losing his inheritance haunted him like the threat of losing a parent or a sibling., The deepest motive may be even more primal, an innate appetite for status. He studied at both Berkeley and the University of Oxford before turning his eyes to the family business. In 1957 he was named by Fortune magazine as the richest living American, and in 1966 the Guinness Book of Records named him as the worlds richest private citizen, with an estimated worth of $1.2 billion (841.3million). When JPG was was 21, his father loaned him some money to form an oil business of his own. So, did Getty leave some of his fortune to his mistresses, as he proposed at the beginning of Trust? Through the years, Old Pauls protectors have suggested that he was the greatest victim of his own stinginess. But her childhood was fraught with tragedy. Ronald sued to equalise the trust, but in 1986, a, Who Inherited Getty Fortune, JP Getty Mistresses Family, In the Bridgerton Cinematic Universe the BCU, if you will its expected that glamorous balls, fancy gowns, and romantic longing will reign over a, Memeable red carpet serves, big budget performances, and memorable speeches with the obligatory smattering of awkwardness and technical difficulties ye, Spoilers ahead. Back in 2003, a copy sold on eBay for $3550. Ouch! ), Sonn became accustomed to the rhythms of life in the Getty orbit: the talk of political allies, the familys trips on their Boeing 727, known as the Jetty. And yet, by 2018, after four years of crisscrossing the country to attend to the Gettys finances, elements of the job were making her increasingly uncomfortable. 23:38, 3 Mar 2023; . Andrew's father is multi-billionaire philanthropist Gordon Getty. Once she was certified, she signed up clients who wanted to align their wealth with their values. Her new role obligated her to master a shifting vocabulary of noblesse oblige. From 2015 . For Paris fashion week I dressed my friends in ball gowns and we went to LAvenue., As we sit inside the restaurant of Milans Armani Hotel the self-taught designer gushes, Glam is what me and my friends do, we love toglam. Can you hand me my phone?. (The prize of the general is not a bigger tent but command, Oliver Wendell Holmes said.) New York, Seattle. When J. Paul died in 1976, he was believed to be the wealthiest person on the planet with a net worth of $2-4 billion. The dynasty was founded by John Gilberts great-grandfather, George Getty, and built up by his grandfather, Jean Paul Getty, who founded the Getty Oil Company in 1942. She gave a wan laugh and said, I fulfilled a lot of their intergenerational ambitions. She had reached the heights of wealth management, optimized her position, and sued in pursuit of millions. John Gilbert Getty was the heir to the $5billion Getty fortune - and father to Ivy Love Getty. 'He was quite the heartbreaker and I remember I used to get flooded by Facebook messages from random women trying to contact me to reach my father lol. One wealth manager told me that it would have been unusual for Sonn to spend eight years as a slave to these prima-donna girls, without the expectation that theres something at the end of the rainbow., Sonn said she had come to believe that, unless wealthy Americans made some sacrifices to undo the stagnation of social mobility, stories like hers would become impossible: My parents came here imagining that they could build a better life, and I am a product of that. Photograph by John Harding. In 1986, 10. The family's money was made in the early 1950s when John Paul Getty III's grandfather, J. Paul Getty, founded the Getty Oil Company, one of the largest in the United States at the time. The rest of the family remained remaindermen; they had to wait until the death of the last Getty son to collect principal. For another, helping to manage a familys most sensitive financial deliberations could be an emotional process; these are blood-sucking jobs, as one finance professional put it. Victoria has worked her way up in Mars, Inc. since 1978 and was eventually became the chairman. The one who: Passed away this week as heir to the Getty fortune Background: John was heir to the $5 billion Getty fortune and was believed to have been living in LA and friends with US. "He held all the chords totally different that anyone else because he taught himself.". King Charles III has a newly inherited fortune and the time has come to go inside his net worthincluding the Duchy of Lancaster and the Queen's $500 million. Largely because of the sale of the company, the Getty family remains one of America's richest, with a fortune valued by Forbes at about $5 billion. Sex Pistols // "God Save the Queen" / "No . Even though its not known as a fashion capital, this is where the fashion goes to its a red carpet city, the youngest child of Ariadne Getty explains. Eventually, he caved caved to the kidnappers and agreed to their $2.9million (2million) ransom. Last May, Marvin Blum, a Texas lawyer and accountant, gave a seminar for fellow-accountants who were figuring out how to profit from the influx of wealth that needed protecting. She shared numerous photos interspersed with fun facts about her father. Leicht - Los Angeles Times, Do not sell or share my personal information. The acknowledgement came after the daughters filed court papers to change their last names to Getty. Property taxes were due only if the owner of a property died, so, if you kept playing hot potato with the deed, effectively the owner never died. In 1682, to curb gaming of the law, Englands Lord Nottingham established a rule against perpetuities, which set the maximum length of a trust at the life span of the beneficiary plus twenty-one years. He wanted to marry her, but she told him she was not prepared to be trampled on like this other wives," Kitson's ex-husband, Patrick de Laszlo. Sheldon Adelson, the late casino owner, sometimes had at least ten at once; in one three-year period, according to Bloomberg, he used them to escape $2.8 billion in taxes. Ultimately, Old Paul consented to pay $2.2 million of the requested sumthe maximum, according to his biographer John Pearson, that advisers had told him was tax deductible. And youre just in a world in which, four times a year, youre going to Nevada or wherever., For half a century, Gordon Getty has lived in a grand yellow Italianate mansion in Pacific Heights, with sweeping views of the Golden Gate Bridge and Alcatraz. I didnt need that massage chair. (She added, I didnt get a massage chair, dont worry. The 52-year-old was found dead in a hotel in San Antonio, Texas on November 20, 2020. On his 21st birthday, the night he came into his $15.5 million inheritance, he lost $70,000 gambling. The oil baron's then-wife Teddy, a former nightclub singer, later wrote in a memoir that the tycoon had admonished her over the boy's expensive medical bills. Gordon, whose net worth is estimated byForbesat $2.1billion,married Ann Gilbert in 1964 and Andrew and John were two of their four children. Gordon P. Getty, 88, is J. Paul Getty's fourth son and heir. The couple began dating in 2011 . What HBOs Chernobyl got right, and what it got terribly wrong. I liked being his only child and it felt like it was just us two,' she wrote. That seems fair, Sarah replied. I feel no qualms or reticence about likening the Getty Oil Company to an empireand myself to a Caesar, he wrote. Shoppers left in hysterics by VERY rude Christmas tree - but can you spot why theyre giggling? In 1983, South Dakota became the first U.S. state to abolish the ancient rule against perpetuities, clearing the way for what became known as dynasty trusts, which can shield assets from inheritance taxes for centuries. CHILD DEATH: The oil baron's youngest child, Timothy Ware Getty, suffered a brain tumour aged six and died at the age of 12 in 1958. Kendalle, a multimedia artist, identified herself on Instagram as a bastard princess, and advertised support for environmental conservation, animal welfare, human rights, and reforming the way the justice system handles gendered violence, racial inequities and bias, and transphobia. She seemed eager to pull money out of the petroleum investments that had built the Gettys wealth and repurpose it, in a spirit that Sonn likened to reparations. And, in normal quantities, it narrows inequality, by helping low-income families pay for homes and education. Once a year, it would be in Nevada, usually in Las Vegas, because none of the family members wanted to go to Reno. Buried in the details of California law was a statute that said that, as long as they could make the case that they never did the major portion of their business in California, they might each be able to dodge tens of millions of dollars in taxes on the inheritance. Despite being one of the richest men in the world J. Paul Gettys infamously refused to pay up. The Duchess of York, 63, has flown to the US to meet 6billion property magnate Trammell Crow Jr, 72. (That makes me smart.) For more than a few, its about fear. John Gilbert Getty, heir to a $US5 billion ($A6.5 billion) oil fortune, died from heart and lung disease after an accidental fentanyl overdose, a post mortem has revealed. Ever since then, Americans have groped for a balance between the instinct to bequeath and the dangers of excess. The late oil tycoon J. Paul Getty is in the news today after one of his great-grandchildren was found dead in a Los Angeles mansion last night under slightly mysterious circumstances. So theyre able to enforce a certain kind of culture of silence around bad behavior. Sonn had started out in wealth management determined to help people find tax-efficient ways of clearing their conscience but had come to see an ethical flaw in that ambition. As the months dragged on, it was clear John's kidnap was real and as a result, hiscaptors cut off his ear and sent it, along with a piece of his hair to the Getty family, reissuing their demands. Each of Augusts ultra-feminine in the traditional sense of the word designs carry an element of sexy with them. The recipe requires only two steps: have your lawyer set up a trust on paper with your heirs as beneficiaries, and fill it with assets that you strongly suspect will rise in valuesay, the stock of your company about to go public. Another of Getty's sons, George, died in a suspected suicide in 1973. John Paul Getty - later known as J. Paul - would go on to solidify the Getty fortune. The well-known actor and singer Antonio Banderas, 62, was married to actress Melanie Griffith, 65, for many years. Getty Sr's youngest child, Timothy Ware Getty, suffered a brain tumor aged six and died at the age of 12 in 1958. The 52-year-old was found dead in a hotel in San Antonio, Texas on November 20, 2020. She wrote: "He was an absolute beast at any instrument but his favorite was guitar. Kendalle had a nest egg of about five million dollars, administered by Goldman Sachs. J. Paul was the richest person on the planet when he died, because the previous record holder, eccentric billionaire Howard Hughes, died two monthsearlier. Paul put nearly all his energy and profits back into the company and the trust. Employing a similar approach with at least two other family funds, they had, by Sonns estimate, deferred a combined $300 million in payments. Ive had to deal with rejection because of my last name, as some people will not trust my work ethic. John's mother, Ann Gilbert Getty, passed this September. They were asked to make decisions pretty much on the spot.. Coroners found he had died of an accidentalintestinal haemorrhage and also had a toxic level of methamphetamine in his system. She added that her dad had been an absolute beast at any instrument but his favourite was guitar. The lawyer was cagey about specifics, but eventually identi-fied the prospect as Kendalle P. Getty, a granddaughter of the oil tycoon J. Paul Getty. which Forbes says includes a commercial real estate fortune. Getty eventually relented and paid a $3million ransom. One of her primary duties was monitoring the important matter of location. But, Sarah Getty told me recently, her crazy family history and abrupt transformation into an heir gave her little preparation for managing a fortune. Getty left money and shares of Getty oil stock to 12 women who he knew from various points in his life many of whom were lovers. He held all the chords totally different that anyone else because he taught himself.'. . Thomas Jefferson believed that steep inheritance taxes would encourage an aristocracy of virtue and talent, which he regarded as essential to a well ordered republic. Thomas Paine wanted taxes on the largest estates to approach the point of prohibition. Even some of Americas greatest entrepreneurs saw inheritances as a handicapa misguided affection, as Andrew Carnegie put it. In ancient Greece, the Spartans developed rules that consolidated property into a narrow class of heirs, while the growing population of people left behind were reclassified as hypomeionesinferiors. Davis, characterized the Gettys approach as aggressive, obnoxious tax planning, saying, They are at the limit, or perhaps beyond the limit. But the familys larger strategy, he told me, might be simply to take their chances with Californias version of the I.R.S., the Franchise Tax Board. She wrote: 'My dad would absolutely love if I shared photos of him and talked about how much he meant to me so I am doing that. And Im really good at my job. The father and son combined their companies to form Getty Oil Company, and later Getty Oil. We must stand up to the billionaire class and create an economy for all, not just a few.. The late U.S. senator Carl Levin, a critic of finance abuses, accused the industry of deflecting attention with MEGOsMy Eyes Glaze Over schemes.) By signing up, you agree to our User Agreement and Privacy Policy & Cookie Statement. Caroline is the sole surviving member of the immediate family of President John Fitzgerald Kennedy. he co-founded Getty images with a South African Jonathan Klein which became a leading company in providing videos and historical pictures for archives, the business was very successful that it was even ahead of Microsoft's corb in photography, but in 2012 it was sold to the Carlyle Group for close to $3 . His last wife, a singer named Teddy Getty, had to beseech him to pay for maternity clothes, pointing out that he could deduct them from his taxes, as an expense for her performing career. The trade was so profitable that their son, J.Paul Getty, became a millionaire by the age of twenty-threeat which point he announced his retirement. John Gilbert had been set to inherit the Getty family fortune, estimated to be worth more than $US5 billion ($A6.5 billion).

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