PAINFULLY RICH The Outrageous Fortune And Misfortunes Of The Heirs Of J. Paul Getty by John Pearson

This is one of my hard-backed books that I first finished (in the hot tub at the club) on We 4/21/99 and had bought the previous Saturday at the main branch for a dollar.

NOTES:

J Paul's parents, George and Sarah were both religious fanatics. The father was a Christian Scientist and his mother became deaf as the result of an illness. Neither parent ever thought that Paul was up to snuff.

The Sarah Getty Trust was set up by Sarah during the Great Depression. She felt that Paul would squander his fortune, so she invented a tax free haven that would prevent this from happening. However, Paul was correct. When the market is at the lowest is the time to spend, and spend big.

Paul's biggest goal in life (after sex, mostly with very young girls) was the quest for more money. This trust allowed him to get more and more of it, and to keep it safe from the taxman. And by amassing this fortune, it help to prove that his parents were wrong in their low estimation of him.

J Paul claims that he never paid the US government more than 500 dollars of tax in a year.

His Sons-

George, the oldest

Ronald- this boy was cut out of the inheritance because J Paul felt that his grandfather would be able to always pay for Ronald's needs. J Paul was in a bitter divorce with Ronald's mother and he hated his very rich father in law. However, this man lost his fortune not long after.

Paul- A sixties Hippie and drug addict. His wife died under mysterious circumstances and this haunted him all of his life. Decades later he got clean and became a master of old books and sailing. He was knighted and became a major philanthropist.

Gordon- the most business oriented of the sons.

3788 Clay St., San Francisco

Paul's son was the boy that was kidnapped and lost an ear in Italy during the early 70's. Lots of information about this very interesting case.

"I have fourteen grandchildren and if I paid a single ransom, I'd be paying ransom for all of them"
This was the logic as to why J Paul did not want to pay for the release of his grandchild.

A great read and very informative.