William Knox D’Arcy never set out to change the world. 

Born in England in 1849, he first made his fortune in Australian gold mining. By 1901, with wealth and ambition to spare, he struck a deal with the Shah of Persia that gave him exclusive rights to search for oil across most of the country.

The gamble soon turned into a financial ordeal.

Exploration in Persia proved far more difficult than expected. Equipment had to be hauled across deserts and mountains, drilling was slow, and early wells produced nothing. Year after year the venture consumed money while producing no oil. D’Arcy poured much of his fortune into the project and eventually had to seek financial help from the British firm Burmah Oil to keep the exploration alive.

By 1908 patience was running out. Investors in London had grown frustrated and reportedly sent instructions ordering the drilling operation to shut down and abandon the search.

But the message never reached the remote drilling camp in time.

On May 26, 1908, the well at Masjed Soleiman finally struck oil. It was the first major oil discovery in the Middle East, a breakthrough that would transform the global energy industry and reshape the geopolitics of the twentieth century.

The discovery soon led to the creation of the Anglo-Persian Oil Company, later known as BP.

Ironically, D’Arcy himself did not become one of the great oil barons of the age. After years of costly exploration, he had already sold much of his stake to cover debts and secure financial backing.

He lived comfortably until his death in 1917, but the immense wealth that flowed from Persian oil largely passed to others.