John Paul Getty was an American businessman who has a net worth of $2 billion at the time of his death in 1976. John Paul Getty acquired his net worth as the founder of Getty Oil Company. Getty was born into his father's (George Getty) petroleum business but made a name for himself as one of the first people in the world to have made over $1 billion. After graduating in 1914, Getty ran his own oil business and by 1916 had made his first million dollars. By 1957, Getty was named the richest living American, and by 1966 he was named the world's richest private citizen with an an estimated net worth of $1.2 billion. A great lover of art and antiques, Getty formed J. Paul Getty Museum in Los Angeles, California. The Museum is part of the J.Getty Trust which is the world's wealthiest art institution worth $5.6 billion, as of 2011. The trust also operates the Getty Foundation, The Getty Research Institute and The Getty Conservation Institute. In the 1950s, Getty moved to England (into a 16-centuary Tudor estate, Sutton Place) where he continued to operate Getty Oil and other business interests. He remained there until his death in 1976. At the time of his death, Getty was worth more than $2 billion.