Calouste Sarkis Gulbenkian — known as 'Mr. Five Percent' — was a British-Armenian oil magnate who brokered the deal that created the modern Middle Eastern oil industry, and whose philanthropic foundation continues to shape culture and society worldwide today.
Calouste Sarkis Gulbenkian was born on March 23, 1869, in Üsküdar (Scutari), in the Ottoman Empire, to an Armenian family. He was educated in Marseille and London, graduating with honors in engineering from King's College London in 1887. His career in oil began almost immediately — he became an expert on Ottoman oil resources and wrote detailed reports on Baku oil fields that brought him to the attention of European oil interests.
In 1928, Gulbenkian negotiated and participated in the creation of the Iraq Petroleum Company — one of the most consequential business deals of the 20th century — securing for himself a permanent 5% stake in all oil produced. This arrangement, and the extraordinary wealth it generated, earned him the nickname "Mr. Five Percent." He became one of the wealthiest individuals in the world, accumulating a vast art collection and using his fortune for major philanthropic purposes.
Calouste Gulbenkian did not just profit from oil — he helped create the modern oil industry's structure in the Middle East. He brokered the agreement between British, French, American, and Dutch oil interests that carved up the rights to Ottoman/Iraqi oil, a deal whose consequences shaped geopolitics for the next century. As an Armenian who built this power at the intersection of empires, his story is remarkable.
When Gulbenkian died in 1955 in Lisbon (where he had lived during and after World War II), he left his entire fortune and his spectacular art collection to the Calouste Gulbenkian Foundation, which he had established in Portugal. The Foundation — headquartered in Lisbon — is one of the largest philanthropic organizations in the world, with an endowment exceeding €3 billion. It supports arts, education, science, and humanitarian work across Portugal, the United Kingdom, and internationally, including significant support for the Armenian community.
The Gulbenkian Museum in Lisbon houses his personal art collection — one of the finest private collections ever assembled, including ancient Egyptian artifacts, Greek coins, Islamic art, Flemish masters, French Impressionist paintings, René Lalique jewelry, and much more. It is considered one of the great museums of Europe.
Gulbenkian's wealth funded one of the world's great philanthropic foundations. Discover Armenian-owned businesses today.
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