Finding oil is pretty much an instant introduction to the world of the high-flying billio. By Steve Hargreaves @hargreavesCNN June 2, 2014: 6:18 PM ET . Under the Soviet government, Alekperov became a Deputy Minister of Oil and Gas and from here Alekperov really made his leap to the billions. The sale is rumoured to have cost the billionaire over $100 million, but in an interview with Esquire magazine, the mogul claims that he is a custodian these Russian treasures rather than a mere private collector - of course! The Microsoft share price plummeted after the dot-com crash of 2000, knocking billions off Gates' fortune, but he remained on top until 2008 when Warren Buffett, CEO of investment company Berkshire Hathaway, temporarily surpassed him. 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. By the 1850s, Vanderbilt had become the world's richest person. Vanderbilt made his first foray in the railroad industry in 1863 when he bought the failing New York and Harlem route. Brother’s Charles and David Koch made their money the old-fashioned way: they inherited it. Roughly one year has passed since the financial news site ranked the richest of the rich. During the early 1870s, Vanderbilt embraced philanthropy, setting aside $1 million to found Vanderbilt University in Nashville. With the emergence of the Russian Federation in the 1990s, Vekselberg was savvy enough to hop on the TNK-BP bandwagon, where he became deputy director. or the Bangboxo For the contemporary lists, see List of Americans by net worth and Forbes 400.. Rockefeller ran the company until 1897. 8. That is 15 more than there were just two years ago. Our site is based on a vast data base which updates daily and can assist in solving hints appearing in diverse publications every day. Upon his death in 1877, the shrewd businessman was worth $105 million, equivalent to $2.6 billion in today's money. Khan is one of Alexei Kuzmichev’s buddies, with whom he made millions. John D. Rockefeller (1839–1937) is considered by most people to be the wealthiest man in American history. This method of comparing individuals' wealth across time is disputed. An interview from Charles Koch to the Wall Street Journal in 2006 dismissed other billionaire moguls’ efforts in philanthropy. Born in 1839 John Davison Rockefeller, Sr. was co-founder of the Standard Oil Company, which dominated the oil industry and domestic kerosene market. Alongside this, Fridman has a share in the Ukraine’s largest mobile operator Kyivstar, as well as shares in the telecoms group Turkstar. Sheikh Mohammed Al Amoudi is reminder on our list that it isn't just the Russians who know about oil. The richest among the Rothschilds was the head of its English branch—Nathan Mayer … July 1, 2020. in Billionaires. By 2006, he had fallen off the Forbes list. Fuel tycoons – the top five richest people in oil and gas 12 August 2019 (Last Updated January 31st, 2020 07:51) Three of the top five richest people in oil and gas are Russians, who steered their companies towards growth post the fall of the Soviet Union. Plenty of cash to indulge in his favourite pastime, collecting art. Anyone who knows a thing or two about rich lists knows that oil can make or break a man - or indeed, a nation. There, he met his future billionaire buddies. Rockefeller was usurped as the richest person in the world at the turn of the century by arch rival Andrew Carnegie. Elaine Marshall is the fourth richest woman in the United States and one of nine members on the board of Koch Industries. 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. In 1811, Girard set up his very own bank, which provided the main source of credit for the US government during the War of 1812. In 1911, the US Supreme Court found Standard Oil in violation of anti-trust laws and ordered the break-up of the company. Real estate values nosedived in the 1990s and Tsutsumi was caught up in an accounting scandal in the early 2000s. His company, Carnegie Steel, was sold to JP Morgan in 1901 for $480 million, which would be equal to $14.6 billion in today's money. He created the Standard Oil Company in 1870 along with partners including his brother William, Samuel Andrews, Henry Flagler, Jabez A. Bostwick, and Stephen V. Harkness. When not writing for The Richest, I am most likely to be found sipping from coffee cups the size of my head. Keeping with all things Russian, German Khan is one of our top ten richest oil tycoons. 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. From Paper City. The oil-rich Middle East, in particular Saudi Arabia, is now famed for its fields of black gold. 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. Or, almost. Controversially, in 2011 the British newspaper The Daily Telegraph claimed that Khan sees the mafia-based Godfather movies as a “manual for life.” The paper obtained the information from a WikiLeaks source, and the report painted an image of a man who is a shrewd businessman with a work hard, play hard philosophy. 1 of 20. And how does that compare to today? 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. The New York Times obituary stated that he had a net worth of $341 billion. Although his first millions came in the form of construction in Saudi Arabia, it is through oil that the mogul converted this fortune to the big league billions. Like any good oligarch who values his skin, Alekperov maintains good relations with the Kremlin and hangs out with Russian President Vladimir Putin. With a portfolio like this, and all those high-flying friends, you can’t help but wonder what they buy each other as Christmas presents…. The miserly oil magnate hit the headlines in 1973 when he refused to pay a $17 million ransom to secure the release of his grandson John Paul Getty III, who had been kidnapped in Rome. At the time of his death in 1848, the German-American businessman, who was also a big player in the real estate and opium industries, had a net worth of $20 million, equivalent to $599 million in today's money. Reliance is the owner of the largest oil refinery in the world, and the company has strong investments in a number of petrochemicals as well as telecommunications and gas exploration. But they’ve since shown a Most sources agree on John D. Rockefeller being the richest American in history, although some define richest as an individual's wealth as a share of contemporary Gross Domestic Product (GDP). 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. 1. Record oil and gas prices have fueled many fortunes. Reading Time: 7min read Share on Facebook Share on Twitter. Instead he lost nearly all of it in just two years. The partial sale of the oil company to the state-controlled Rosneft (for $28 billion in 2012) personally scored Khan $3.3 billion. That would be beneath an oligarch of this magnitude. When he died in 1836, Rothschild was worth the equivalent of 0.62% of British national income. Bush Sr. had made his fortune as a oil tycoon, establishing several oil refining companies and selling them off for huge sums of money. 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. * Rockefeller The richest of them all, and one of the most famous surnames in the world. Ross Perot On The Forbes Four … There's no shortage of oil tycoons in Texas, or on Forbes' list of the richest billionaires in the world. Vekselberg’s role involves sniffing out the biggest and best talent for the nation. The billionaire oil tycoon has also penned a book, the aptly titled “Oil of Russia: Past, Present and Future.” The fortune will stay in the family, as Alekperov has made plans for his son to inherit his majority share in the LUKoil empire. Compared to some of the habits of his fellow countrymen on this list, Russian Viktor Vekselberg keeps a comparatively low profile. After Hamm on the list of American oil and gas billionaires comes Phil Anschutz and George Kaiser, with fortunes of $10 billion each (tied for 109th). 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. Gates bagged the number one spot again, but was relegated to second place in 2010 by Mexican telecoms tycoon Carlos Slim, who remained the world's richest person until 2014. That year, the tech tycoon was worth $12.9 billion, which is around $21.9 billion in today's money. When Marshall’s husband died, as his beneficiary, she was left holdings in Koch Industries. The penultimate oil tycoon on our list need not feel bad about missing out on the top spot as Mukesh Ambani also ranks as India’s richest man. 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. The real game changer in the world’s oil industry in recent years, though, has undoubtedly been the privatisation of the oil industry in the largest country in the world - Russia. Who was the richest person in the world in 1820, 1900 or 1960? But it remains to be seen which of them will be the decade's richest, or if it will be someone else entirely. He is also still the richest American who has ever lived. 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. CORNELIUS VANDERBILT. For many, Ambani is representative of the modern India with the mogul outspoken in favour of advancing the country both economically and culturally. With refineries in Morocco, Saudi Arabia and Sweden, Al Amoudi owns 70% of the National Oil Company of Ethiopia. At the time of his death in 1885, he had more than doubled the family fortune and was worth $232 million, equivalent to $6.2 billion in today's money. Such fame does come at a price however, and the Koch brothers are certainly the most famous - or rather the most infamous - on our list. As life-long libertarians, the brothers are known for their generous donations to many a right-wing cause and have no problem sharing these views with the media. Like Carnegie, Rockefeller was famed for his philanthropy. At the time of his death in 1947, the automotive pioneer's net worth was reportedly around $200 billion in 2021 dollars. German Khan is no quiet partner however, serving as executive director of the co-owned oil empire, TNK-BP. Our look at the top ten wealthiest oil tycoons demonstrates this shift to the East but there are still a couple of surprises. The descendant of a Dutch indentured servant, Vanderbilt left school at 11 and established a ferry service when he was 16, which morphed into a booming nationwide steamboat business. Ukrainian-born Fridman is the third shareholder of Russia’s mammoth Alfa Group to make our list. In 1957, Fortune magazine named Getty the richest living American. Kaiser-Francis Oil started off as a small drilling and oil prospecting company. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Anyone who knows a thing or two about rich lists knows that oil can make or break a man - or indeed, a nation. Here are the greatest, most formidable tycoons of the 19th century. Nevertheless, he was among the richest presidents both before and after he was elected. 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. The partial sale of the oil company to the state-controlled Rosneft (for $28 billion in 2012) personally scored Khan $3.3 billion. Posts about oil tycoons written by Aron Brock. 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. Based in Dublin but with a international perspective on events, I aim to give a clear view of what's current. Like his compatriot Vagit Alekperov, Vekselberg too keeps close ties with the Russian President and he ranks among the five richest men in Russia. Another savvy self-made tycoon, Cornelius Vanderbilt was born on Staten Island, New York in 1794. 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. Born in Frankfurt in 1777, the German financier moved to England in 1798, setting up textile and banking businesses that netted him big bucks. Eike Batista was the world’s seventh-richest man in 2012, worth an estimated $30 billion and proclaiming to be on his way to becoming the world’s richest. As well as holding the title of Sheikh, the Swedish King Carl Gustav also awarded him membership of the Royal Order of the Polar Star. When not writing for The Richest, I am most likely to be found sipping from coffee cups the size of my head. Get 2 Months of Skillshare Pro (Free!) This tycoon studied engineering at the university in which he worked under Gorbachev’s twilight zone for the Soviet Union. Dan Alexander, Forbes. Today his net worth stands at $5.1 billion. 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 5. George Kaiser, on the other hand, is the kind of oil baron the West - and certainly Americans - are more familiar with. Where Alexei Kuzmichev and his ilk for many represent the new world, new money and for that matter new oil. By the 1940s, Ford had risen to become the wealthiest person the planet. Gates had another stint at the top from 2015 to 2017. John D. Rockefeller’s standard oil company “controlled 90% of American oil production” in the 1880s. http://gobc.tv/skillshare⭑ Subscribe to Business Casual → http://gobc.tv/sub Enjoyed the vid? Fresh-faced journalist with an interest in media, tech, culture and society. A fresh take on sports: the biggest news and most entertaining lists. Al Amoudi is the son of a Saudi father and Ethiopian mother holds dual citizenship in both countries. Khan is one of Alexei Kuzmichev’s buddies, with whom he made millions. Coming into the new decade, Jeff Bezos once again topped Forbes’ Billionaires list of 2019 with a net worth of $131 billion, a figure which had decreased in part due to his divorce settlement with his now ex-wife Mackenzie Scott that cost him around $38 billion in April 2019. In 2010 the Kremlin appointed Vekselberg as head of Skolkovo, a project aimed at creating Russia's "Silicon Valley." 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