The Founder

Calouste Sarkis Gulbenkian was an Armenian born in the Ottoman Empire in 1869, his father a trader and banker in Scutari. Gulbenkian graduated in engineering at King’s College London in 1902 and became a British citizen, conducting much of his work from London and then Paris, but finally settling in Portugal. The source of his wealth was oil: he spotted the potential for oil exploration in Mesopotamia, then part of the Ottoman Empire, now Iraq. Dealing with French, American and Anglo-Dutch companies, he secured a five per cent share of the revenues of what became in 1929 the Iraq Petroleum Company – hence his nickname ‘Mr Five Per Cent’.

In 1927 he settled in Paris, where his house at 51 avenue d’Iéna (still owned by the Foundation) became famous for his collection of books, coins, manuscripts, paintings, statues and other objets d’art. He also became a private benefactor to the Armenian community across the world.

In 1942 Gulbenkian left France for Portugal where he remained until his death in 1955. The Calouste Gulbenkian Foundation was established in Lisbon in 1956.

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