Factsplusyt

Bill Getty was a billionaire who was known for his extreme frugality. He would do things like place a payphone in his palace to avoid paying guest call bills and carry a large bag to collect food at parties. In 1973, his grandchild was kidnapped by the mafia, who demanded a $7 million ransom. Bill refused, stating he had 14 other grandchildren. In response, the gang cut off the child's ear and sent it to an Italian newspaper. Even after reducing the ransom to $3 million, Bill initially declined. Eventually, with his children's efforts, he agreed to pay $800,000 as part of a loan for his son at a 4% interest rate, and his son was responsible for repaying the loan.