Alexander Turney Stewart’s profile picture

Alexander Turney Stewart

Entrepreneur
Alexander Turney Stewart’s profile picture
Net worth 2018: $90 Billion
Industry: Retailers
Residence: Lisburn
Country: United States
BirthDay: 12 October 1803
Sigh: Scorpio
Died On: April 10, 1876
BIOGRAPHY

Alexander Turney Stewart was bornon 12 October 1803 in Lisburn, American, is Entrepreneur. Alexander Turney Stewart was a highly successful 19th century Irish-American entrepreneur, a leading retail dry-goods businessman in the USA. Born in Ireland, he moved to the USA as a young man. Considered to be a business genius, he started his business with department stores. He later established his own manufacturing facilities and also started a mail order business. He owned hotels in New York City and constructed the planned community of Garden City, Long Island. He was engaged with various types of charitable works also. For instance, he sent food to Ireland during the mid-century famine in that country. His innovative outlook towards merchandise business had a positive effect on American retail business. He introduced the idea of vertical integration in business by becoming his own wholesaler and manufacturer and maintained his own European manufacturing units. He built a large marble-fronted store on Broadway between Chambers Street and Reade Street in New York City; it was the largest retail store in the world at that time. Stewart’s residential building in America was one of the finest private homes. He also had the largest collection of valuable art. Stewart’s business grew exponentially and he died as one of the richest men in the USA. Before his death, he owned two large stores whose combined sales was worth $203 million.

NET WORTH STATISTIC
2018

$90 Billion

TIMELINE
1965

The building was declared a National Historic Landmark in 1965, and was designated a New York City landmark in 1986

1877

By 1877, it had expanded to 30 separate departments, carrying an even wider array of products

1876

In 1876 alone, he profited over $500,000 from the mailing business

1871

After incorporating the Central Railroad of Long Island in 1871, he completed it in 1873

1869

From 1869 to 1870, he built the famous Fifth Avenue palaces on the northwest corner of 34th Street, New York

1862

From 1862 to 1871 he served in many of the New York State Chamber of Commerce Committees

1848

By 1848, his business venture, AT Stewart & Company built the Marble Palace at 280 Broadway

1823

After claiming his grandfather’s inheritance, he returned to New York where he opened his first store at 283 Broadway on September 1, 1823

1818

Between 1818 and 1822, Stewart visited Ireland to claim his grandfather’s inheritance

1803

Alexander Turney Stewart was born on October 12, 1803 to Scottish Protestant parents in Lisburn, Ireland

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