1min snip

Founders cover image

#149 The Big Rich (Oil Billionaires)

Founders

NOTE

Rapid Generation of Wealth in the Texas Oil Industry

The rapid accumulation of wealth in the Texas oil industry occurred during a short period of four to five years in the 1930s, particularly in the East Texas oil field. Despite the Great Depression, this period led to the creation of great family fortunes that remained underappreciated for years. The influx of cash from the Texas oil industry during this time frame is highlighted as one of the most significant periods of wealth generation in American history, paving the way for individuals like Sid Richardson to transition from poverty to bankrolling the president's son in the radio business within a matter of years.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode