Billionaire philanthropist Sir Paul Getty has passed away after a lengthy period of illness. The American-born businessman, who became a British citizen in 1997, was admitted to a London clinic on Monday suffering from a chest infection. He was 70 years old.
Over the course of his life Sir Paul came to be known for two things, his generosity and hedonism. He gave away large sums of money, including £50 million to the National Gallery and £50 million to the British Film Institute. He was knighted in 1986, but initially couldn't use his title as he was American. That changed a decade later when he was granted British citizenship and the Queen made him "Sir Paul".
His life was also marked by tragedy, however. Second wife, actress Talitha Pol, died of a heroin overdose and his son Paul Getty III was abducted in a notorious 1973 kidnapping. The benefactor was also noted for being rather more generous with charitable causes than he was with his children, and familial rifts emerged as a result.
It remains unclear how his fortune, most of which came from a trust after Getty Oil was sold to Texaco in 1984, will be divided among his surviving family members. While the estate would normally pass directly to his spouse, Sir Paul's earlier reluctance to share his wealth with his children has fuelled speculation that he may have specified otherwise. He is survived by his third wife Victoria Holdsworth and five children.
His death coincided with the passing of Greek shipping magnate John Latsis, 93, whose empire was valued at £3 billion. The reclusive tycoon rarely appeared in public but often lent his yacht Alexander to high-profile friends, including Prince Charles and Princess Diana. "The Prince Of Wales is very sad to hear of the death of John Latsis," said a statement released by St James's Palace.
Photo: © Alphapress.com
Photo: © Alphapress.com
