In this episode, we uncover the extraordinary life of Calouste Gulbenkian, known as Mr. Five Percent, and his pivotal role in shaping the modern Middle East’s energy landscape. Born into an Armenian family in Constantinople during the late nineteenth century, Gulbenkian rose from a modest background to become one of the most powerful figures in global finance and diplomacy. We explore how he navigated the treacherous waters of the declining Ottoman Empire, leveraging his linguistic skills and business acumen to broker deals between British, French, and Russian interests. The conversation delves into the formation of the Iraq Petroleum Company and the controversial negotiations that determined oil rights in Mesopotamia after World War I. Lucas guides us through the complex web of treaties, corporate mergers, and geopolitical maneuvering that defined the early twentieth century. Luna asks probing questions about Gulbenkian’s personal motivations and the ethical ambiguities of his dealings with imperial powers. Together, they examine how one man’s shrewd negotiation tactics effectively drew the borders of modern Iraq and influenced the political stability of the region for decades. This story offers a fresh perspective on the intersection of commerce, empire, and identity in the Middle East, moving beyond military histories to focus on the architects of economic reality.
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