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J. P. Morgan

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J. P. Morgan

John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ultimately became known as JPMorgan Chase & Co., he was a driving force behind the wave of industrial consolidations in the United States at the turn of the twentieth century. Over the course of his career on Wall Street, Morgan spearheaded the formation of several prominent multinational corporations including U.S. Steel, International Harvester, and General Electric. He and his partners also held controlling interests in numerous other American businesses including Aetna, Western Union, the Pullman Car Company, and 21 railroads. His grandfather Joseph Morgan was one of the co-founders of Aetna. Through his holdings, Morgan exercised enormous influence over capital markets in the United States. During the Panic of 1907, he organized a coalition of financiers that saved the American monetary system from collapse. As the Progressive Era's leading banker, Morgan's dedication to efficiency and modernization helped transform the shape of the American economy. Adrian Wooldridge characterized Morgan as America's "greatest banker". Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, J. P. Morgan Jr. Biographer Ron Chernow estimated his fortune at $80 million (equivalent to $1.9 billion in 2024).

Infobox

Born
John Pierpont Morgan(1837-04-17)April 17, 1837Hartford, Connecticut, U.S.
Died
March 31, 1913(1913-03-31) (aged 75)Rome, Kingdom of Italy
Resting place
Cedar Hill CemeteryHartford, Connecticut, U.S.
Alma mater
University of Göttingen
Occupations
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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 railroads
Board member of
Northern Pacific Railway, New Haven Railroad, Pennsylvania Railroad, Pullman Palace Car Company, Western Union, New York Central Railroad, Albany & Susquehanna Railroad, Aetna, General Electric and U.S. Steel
Spouses
mw- Amelia Sturges (m. 1861; died 1862) Frances Louise Tracy (m. 1865)
Children
4; including Jack and Anne
Father
Junius Spencer Morgan
Family
Morgan

Tables

· External links
Preceded byFrederic W. Rhinelander
Preceded byFrederic W. Rhinelander
Cultural offices
Preceded byFrederic W. Rhinelander
Cultural offices
President of the Metropolitan Museum of Art 1904–1913
Cultural offices
Succeeded byRobert W. DeForest
Cultural offices
Preceded byFrederic W. Rhinelander
President of the Metropolitan Museum of Art 1904–1913
Succeeded byRobert W. DeForest

References

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  108. Morgan and His Gem Collections; donations to AMNH; in George Frederick Kunz: History of Gems Found in North Carolina, Ra
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  127. "The Men Who Built America (TV Mini Series)"
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  129. David A. Jasen, A Century of American Popular Music, Routledge, October 15, 2013, page 142
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