Jp morgan biography during the civil war
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J P Morgan: Biography
Big enough to bail out the US, buy in a President & build the first billion dollar company. Meet JP Morgan.
His millionaire father, Junius, made his fortune by investing other people’s money and helped found modern investment banking. When John Pierpont, or JP, is a child, Junius has him handle a million dollars in cash so he knows what it feels like. JP Morgan is taught early to avoid risk.
Morgan escapes military service during the Civil War by paying $300 to a substitute to fight for him. During the war he buys five thousand rifles at $3.50 each and sells them on at $22 apiece. The rifles are defective and some shoot off the thumbs of the soldiers firing them. Later, a congressional committee notes this but a federal judge upholds the deal and Morgan is exonerated.
Dominated by his father, JP is 40 before he ignores his father’s business lessons. He wants to be synonymous with an industry, like Rockefeller is with oil, and Carnegie is with stee
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J. P. Morgan
American financier, banker, and art collector (1837–1913)
This article is about the American financier. For other uses, see J. P. Morgan (disambiguation) and John Morgan (disambiguation).
J.P. Morgan | |
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Morgan in 1910 | |
| Born | John Pierpont Morgan (1837-04-17)April 17, 1837 Hartford, Connecticut, U.S. |
| Died | March 31, 1913(1913-03-31) (aged 75) Rome, Lazio, Kingdom of Italy |
| Resting place | Cedar Hill Cemetery Hartford, Connecticut, U.S. |
| Alma mater | University of Göttingen |
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| Known for | Founding and leading J.P. Morgan & Co. Financing the creation of American Bridge, General Electric; International Harvester; International Mercantile Marine; Southern Railway and U.S. Steel Organizing the Morgan "money trust" which owned Aetna, General Electric, International Mercantile Marine Company, Pullman Palace Car Company, U.S. Steel, Western Union, and 21 railr • 36d. The New Tycoons: J. Pierpont MorganJ.P. Morgan invested in everything from Thomas Edison's electric company to railroads and steel companies to insurance firms. Child of PrivilegeNot all of the tycoons of the Gilded Age were rags-to-riches stories. J. Pierpont Morgan was born into a family of great wealth. His father had already made a name for han själv in the banking industry. With Morgan's family resources, he enjoyed the finest business education money could buy. He did not scratch and claw his way to the top of any corporate ladder. His father arranged for an executive track position at one of New York's finest banks. Regardless of his family's advantages, Morgan had a great mind of his own. He set out to conquer the financial world, and conquer it he did. Morgan the BankerMorgan's first business ventures were in banking. bygd 1860, he had already established his own utländsk exchange office. He knew the power of investment. Not content to control just the banking |