Tycoon grandfather of kidnapped teen refused at first to pay ransom.
John Paul Getty III, the 16-year-old grandson of the American oil tycoon J. Paul Getty, was abducted by criminals in Rome's central Piazza Farnese in the early hours of 10 July 1973.
Before his disappearance the rebellious teenager had been expelled from a private school and lived a bohemian lifestyle in Rome, making ends meet by selling paintings and acting as an extra in movies.
When he was kidnapped it was first suspected that he had staged the abduction himself as a ploy to extract money from his grandfather, the richest man in the world at the time.
Two days after his abduction, his mother Gail Harris received a demand of around $17 million in ransom.
Harris, divorced from her son's father John Paul Getty II who lived in the UK, informed the kidnappers over the phone that she had no money.
She was reportedly told to "get it from London" where her son's father and grandfather lived.
However J. Paul Getty was notoriously tight-fisted with his vast fortune and when he heard of the ransom request he refused, stating famously: “If I pay one penny now, I'll have 14 kidnapped grandchildren.”
After four months of keeping their hostage in captivity, in remotehideawaysin the southern Calabria region, the increasingly frustrated criminals took dire action.
In November 1973, a package arrived at the Rome-based newspaper Il Messaggero, its arrival delayed by three weeks due to a postage strike in Italy.
Inside was the captive's severed ear and a bloodied lock of his hair, along with a warning: "This is Paul's ear. If we don't get some money within 10 days, then the other ear will arrive. In other words, he will arrive in little bits."
The kidnappers had also reduced their ransom demand to around $3 million.
The parcel's shocking contents prompted J. Paul Getty to agree to paying $2.2 million, the maximum sum eligible for a tax write-off, and he loaned the rest of the money to Paul's father at four per cent interest.
The ransom was made over in bundles of Italian banknotes and was left in a bag at a roadside location agreed with the criminals.
On 15 December 1973 a truck driver found the missing teenager shivering outside a petrol station on the Salerno-Reggio Calabria highway.
Some time after his release, on his mother's suggestion, he telephoned his billionaire grandfatherto thank him for paying the ransom,however the old man reportedly declined to take the call.
Nine people associated with the 'Ndrangheta mafia organisation were subsequently arrested for the kidnapping, but only two were convicted, and most of the ranson money was never recovered.
Getty III was permanently affected by the trauma and struggled with drug addiction.
In 1981 a narcotics-induced stroke left him paralysed and requiring care for the rest of his life.
He was taken care of by his mother until his death at his home near London on 5 February 2011, at the age of 54.
General Info
Address Piazza Farnese, 00186 Roma RM, Italy
FAQs
On Dec. 15 of the year he was taken, after the ransom was paid, John Paul Getty III was found alone at a gas station. Nine men were arrested after being connected to the crime, but only two were convicted, according to the New York Times.
What happened to the getty grandson whose ear was cut off? ›
(CBS/AP) J. Paul Getty III, the troubled grandson of one of the world's richest men, who lost an ear in a grisly kidnapping as a teenager and suffered a devastating stroke as a young man, has died. He was 54.
Is John Paul getty 3 still alive? ›
John Paul Getty III (/ˈɡɛti/; born Eugene Paul Getty II; November 4, 1956 – February 5, 2011) was the grandson of American oil tycoon J.
Is the All the Money in the World movie based on a true story? ›
Alas, the major events in All the Money in the World—written by David Scarpa, based on John Pearson's 1995 book Painfully Rich: The Outrageous Fortune and Misfortunes of the Heirs of J. Paul Getty—are rooted in truth.
Which billionaire refused to pay ransom? ›
Paul Getty, who became the richest man in the world in 1957, had initially refused to pay his 16-year-old grandson's $17 million ransom but finally agreed to cooperate after the boy's severed right ear was sent to a newspaper in Rome.
Who paid the ransom for John Paul Getty? ›
(J. Paul Getty Jr., the teen's dad, paid an additional sum, which he borrowed from Getty Sr.) Getty Jr.'s good friend William Newsom III, JD '61, MA '63, then a lawyer in Tahoe City, Calif., helped deliver the ransom.
How did John Paul Getty III get paralyzed? ›
Getty III was permanently affected by the trauma and struggled with drug addiction. In 1981 a narcotics-induced stroke left him paralysed and requiring care for the rest of his life. He was taken care of by his mother until his death at his home near London on 5 February 2011, at the age of 54.
How old was Getty when he died? ›
He housed his collection at Sutton Place, his residence in the United Kingdom, and also at his Malibu ranch, which he opened to the public in 1954 as the first J. Paul Getty Museum. J. Paul Getty died in 1976 at the age of 83 in England, where he had lived for nearly 25 years.
What happened to the Getty fortune after he died? ›
After his death, members of the family feuded in court, and forced the sale of Getty Oil to Texaco. Eventually, four factions of the family agreed to divvy up the trust into portions of $750 million apiece, and to pay a tax bill of a billion dollars.
How much money is on Earth? ›
What is the world's total wealth? According to the UBS "Global Wealth Report 2023," total net private wealth stood at $454.4 trillion at the end of 2022.
The richest 1% own almost half of the world's wealth, while the poorest half of the world own just 0.75% In fact, they have acquired nearly twice as much wealth in new money as the bottom 99% of the world's population.
Does All the Money in the World exist? ›
People are earning and spending money without ever touching it. In fact, economists estimate that only 8 percent of the world's currency exists as physical cash. The rest exists only on a computer hard drive, in electronic bank accounts around the world.
Who is the heir to the Getty fortune? ›
Ivy Getty is the great-granddaughter of American oil tycoon and industrialist Jean Paul Getty. She is also an heiress to the family's vast fortune, once valued at $5.4 billion.
What happened to J. Paul Getty's fortune? ›
On his death in 1976, he left most of his estate to the museum, and after a nine-year probate fight (which included the 1984 sale of Getty Oil to Texaco for $10 billion), it became the best-endowed museum in the world.
What happened to the Getty butler? ›
Francis Bullimore, a well- known San Francisco butler who ran the home of Ann and Gordon Getty with a refined air and a dry wit, died of congestive heart failure Friday in Pacific Heights.
What happened to John Paul getty the second? ›
Getty died at age 70 on 17 April 2003, having been admitted for treatment to The London Clinic for a chest infection.
