How to Be Rich

J. Paul Getty's collection of business maxims drawn from his lifetime as an independent oilman — at one point the richest private citizen in America. The book covers his philosophy on management, leadership, deal-making, and the personal habits that separate successful entrepreneurs from the crowd. It is less a memoir than a practical field manual written by someone who acted as his own geologist, drilling superintendent, and roughneck.

David Senra devoted Founders episode #353 to Getty's How to Be Rich, mining its operating principles. "Optimism is a moral duty," Getty wrote. "Pessimism aborts opportunity." Senra highlighted Getty's two core rules: "Be where the work is happening" and "Get rid of bureaucracy." Getty believed the modern trend toward administrative overhead was destructive: "Years ago, businessmen automatically kept administrative overhead to an absolute minimum. The present day trend is in exactly the opposite direction." On finance, Senra distilled Getty's advice: "Don't interrupt the compounding. Keep a fortress of cash, reinvest in your business, and use debt sparingly. Doing so will help you survive to reap the long-term benefits." Getty's closing message: "You'll go much farther if you stop trying to look and act and think like everyone else."