Calouste Gulbenkian Net Worth

What was Calouste Gulbenkian’s Net Worth?

Calouste Gulbenkian, a British-Armenian oil magnate and philanthropist, had a net worth equal to $8.6 billion at the peak of his life, after adjusting for inflation. Without adjusting for inflation, his fortune was estimated to be worth $200 – $800 million in the early 1950s.

Highlights

• Calouste Gulbenkian was a prominent British-Armenian oil magnate and philanthropist.
• He was instrumental in making Middle Eastern petroleum reserves accessible to the West.
• Gulbenkian’s net worth was equal to $8.6 billion at the peak of his life, adjusted for inflation.
• He established hospitals, schools, churches, and made significant contributions to various charitable causes.
• Gulbenkian amassed a large art collection, which is exhibited at the Museu Calouste Gulbenkian in Lisbon.
• He held government positions and served as a financial advisor to Turkish embassies.

Early Life

Calouste Gulbenkian was born on March 23, 1869, in Constantinople in the Ottoman Empire. His family was believed to be descended from the Armenian noble family, the Rshtunis. His father, Sarkis, was an Armenian importer and exporter of oil who owned oil fields in the Caucasus. Gulbenkian received his education at various institutions, including the French school Lycée Saint-Joseph and King’s College London, where he studied petroleum engineering and graduated at the age of 18.

Career

After graduating, Gulbenkian traveled to Baku, Azerbaijan to further his understanding of the oil industry. His expertise led him to contribute to the merger of Royal Dutch Petroleum Company with Shell Transport and Trading Company, making him a significant shareholder in the newly formed Royal Dutch Shell. He also played a crucial role in establishing the Turkish Petroleum Company, which later became the Iraq Petroleum Company. Gulbenkian’s astute business dealings earned him the nickname “Mr. Five Per Cent” due to his policy of keeping 5% of the shares in the oil companies he formed.

Personal Life

Calouste Gulbenkian was married to Nevarte Essayan and had two children named Nubar and Rita. Nubar Gulbenkian followed in his father’s footsteps and became involved in the family business. However, a disagreement over a lunch expense led Nubar to quit and eventually sue his father. This incident resulted in Calouste adjusting his will to leave a significant portion of his wealth to his foundation instead of his children.

Net Worth Over Time

When Calouste Gulbenkian passed away, his reported fortune ranged between $280 million and $840 million. He left a considerable portion of his wealth to the Calouste Gulbenkian Foundation, which was established in 1956. Today, the foundation is one of the wealthiest charitable groups globally, supporting education, science, the arts, and philanthropy.

Components of Net Worth

Calouste Gulbenkian’s net worth primarily stemmed from his involvement in the oil industry, particularly through his shares in companies like Royal Dutch Shell and the Iraq Petroleum Company. Furthermore, he made significant contributions to his net worth through wise investments and acquisitions, including his extensive art collection. The Gulbenkian Foundation, established with a substantial portion of his wealth, continues to contribute to his legacy by supporting various causes and initiatives.

All net worth figures mentioned in this article are based on data drawn from public sources and may vary based on estimations. While efforts have been made to ensure accuracy, corrections and feedback are welcome.

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