J pierpont morgan biography
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Who Was J.P. Morgan?
When John Pierpont Morgan arrived on Wall Street, it was a disorganized jumble of competing interests and one of the many financial centers in a country.
When he left Wall Street, it was a tightly knit group of big businesses leading one of the fastest-growing economies in the world. Much of the progress Wall Street experienced at the close of the 19th century and the beginning of the 20th was due to the influence of J.P. Morgan and the skill with which he wielded it.
Key Takeaways
- J.P. Morgan was among the most powerful industrialists and bankers of all time.
- Morgan was born on April 17, , in Hartford, Conn., to a banking family.
- At the cusp of the 20th century, Morgan used his personal power and reputation to encourage the formation of trusts and mergers within industries where he saw competition.
- Morgan's bailout-like reaction to and leadership during the Panic of built on his lofty reputation and also helped lead to the creation of the Fede
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J.P. Morgan: Early Years and Family
John Pierpont Morgan was born into a distinguished New England family on April 17, , in Hartford, Connecticut. One of his maternal relatives, James Pierpont (), was a founder of Yale University; his paternal grandfather was a founder of the Aetna Insurance Company; and his father, Junius Spencer Morgan (), ran a successful Hartford dry-goods company before becoming a partner in a London-based merchant banking firm. After graduating from high school in Boston in , Pierpont, as he was known, studied in Europe, where he learned French and German, then returned to New York in to begin his finance career.
Did you know? "Jingle Bells" was written by James L. Pierpont, the uncle of famed financier J.P. Morgan. The song, originally titled "The One Horse Open Sleigh," was actually written about Thanksgiving, and was considered a failure when first published in
In , Morgan married Amelia Sturges, the daughter of a wealthy New York businessman. Amel
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J.P. Morgan
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Who Was J.P. Morgan?
Born into a prominent New England family in , J.P. Morgan began his career in the New York financial industry in the late s. He co-founded the banking firm that became J.P. Morgan & Co. in , and in the s he established himself as a power player in the country's railroad industry. Along with amassing immense wealth through the creation of such corporations as U.S. Steel, Morgan led efforts to bail out the U.S. Treasury in and He died in Rome in , leaving behind a world-renowned art collection and a business that remained a financial powerhouse into the 21st century.
Early Years
John Pierpont Morgan was born into a prominent New England family on April 17, , in Hartford, Connecticut. His paternal grandfather, Joseph, was a founder of the Aetna Insurance Company, and his father, Junius, became a partner in a successful dry goods business around the time he married Juliet Pierpont, daughter of noted minister and poet John Pierpont.
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