john pierport morgan
Basic Information:
Born: April 17, 1837, Hartford, Connecticut, U.S.
Died: March 31, 1913 (aged 75), Rome, Italy
Net worth: Over $18 billion dollars (equivalent to approximately $204 billion in 2015 dollars.)
Area of Development:
Perhaps best known as the “Banker Who Financed America,” J.P. Morgan used his bank to finance national projects that built infrastructure – and profits – to American industry. Morgan banished the dark with the direct current electric light of Thomas Edison, but then faced serious competition from the alternating current of George Westinghouse and Nikola Tesla. He later admitted that Westinghouse’s alternating current was a superior design and invested in General Electric. Other companies he developed included AT&T, International Harvester, and United States Steel. Rockefeller, Carnegie and Morgan teamed up to help elect William McKinley to the U.S. presidency by paying for his 1896 campaign. They were worried about monopoly breakup from New York Governor Theodore Roosevelt, so they nominated him for vice president as a harmless position. Soon after the election, however, fate intervened when McKinley was assassinated, and Teddy assumed the presidency and promptly began dissolving monopolies and trusts in America.
Interesting Facts:
Morgan had many interests beyond the world of banking. He enjoyed sailing and participated in a number of America's Cup yacht races. He was an ardent art collector, creating one of the most significant collections of his time. He later donated his art collection to the Metropolitan Museum of Art, and his collection of written works to the Morgan Library—both in New York City.
J.P. hated to be photographed. He was physically large with massive shoulders, piercing eyes, and a purple nose (because of a chronic skin disease, rosacea). As the deformity worsened, pits, nodules, and fissures contorted his nose. This condition inspired the crude taunt "Johnny Morgan's nasal organ has a purple hue."
Morgan was scheduled to travel on the ill-fated maiden voyage of the RMS Titanic, but canceled at the last minute, choosing to remain at a resort in Aix-les-Bains, France. The White Star Line, which operated Titanic, was part of Morgan's International Mercantile Marine Company, and Morgan was to have his own private suite and promenade deck on the ship.
Born: April 17, 1837, Hartford, Connecticut, U.S.
Died: March 31, 1913 (aged 75), Rome, Italy
Net worth: Over $18 billion dollars (equivalent to approximately $204 billion in 2015 dollars.)
Area of Development:
Perhaps best known as the “Banker Who Financed America,” J.P. Morgan used his bank to finance national projects that built infrastructure – and profits – to American industry. Morgan banished the dark with the direct current electric light of Thomas Edison, but then faced serious competition from the alternating current of George Westinghouse and Nikola Tesla. He later admitted that Westinghouse’s alternating current was a superior design and invested in General Electric. Other companies he developed included AT&T, International Harvester, and United States Steel. Rockefeller, Carnegie and Morgan teamed up to help elect William McKinley to the U.S. presidency by paying for his 1896 campaign. They were worried about monopoly breakup from New York Governor Theodore Roosevelt, so they nominated him for vice president as a harmless position. Soon after the election, however, fate intervened when McKinley was assassinated, and Teddy assumed the presidency and promptly began dissolving monopolies and trusts in America.
Interesting Facts:
Morgan had many interests beyond the world of banking. He enjoyed sailing and participated in a number of America's Cup yacht races. He was an ardent art collector, creating one of the most significant collections of his time. He later donated his art collection to the Metropolitan Museum of Art, and his collection of written works to the Morgan Library—both in New York City.
J.P. hated to be photographed. He was physically large with massive shoulders, piercing eyes, and a purple nose (because of a chronic skin disease, rosacea). As the deformity worsened, pits, nodules, and fissures contorted his nose. This condition inspired the crude taunt "Johnny Morgan's nasal organ has a purple hue."
Morgan was scheduled to travel on the ill-fated maiden voyage of the RMS Titanic, but canceled at the last minute, choosing to remain at a resort in Aix-les-Bains, France. The White Star Line, which operated Titanic, was part of Morgan's International Mercantile Marine Company, and Morgan was to have his own private suite and promenade deck on the ship.