Andrew William Mellon’s profile picture

Andrew William Mellon

Industrialist, Philanthropist
Andrew William Mellon’s profile picture
Net worth 2018: $50.5 Billion
Industry: Steel
Residence: Pittsburgh, Pennsylvania, U.S.
Country: United States
BirthDay: 24 March 1855
Sigh: Aries
Died On: August 27, 1937
Education: University of Pittsburgh

Andrew William Mellon was bornon 24 March 1855 in Pittsburgh, Pennsylvania, U.S., American, is Industrialist, Philanthropist. Andrew Mellon was an American industrialist and philanthropist who also served as the United States Secretary of the Treasury from 1921 to 1932. As an astute businessman he is credited to have provided financial backing to industries in different fields such as oil, shipbuilding, construction, aluminum and steel, etc. He started displaying signs of his greatness at an early age and seemed to possess an acute business sense even as a young boy. Born into a wealthy family with a successful man as a father, he was provided ample opportunities to pursue good education and enter the profession of his choice. He chose to work with his father in his business ventures after college and astounded the senior man with his business acumen as he led the company from one success to another. He expanded the business by investing in several growth oriented industries and secured large interests in companies in the oil, automotive, steel, coal, hydroelectric, and insurance sector. He financed industrialists like Charles Martin Hall and Heinrich Koppers and amassed great fortunes. In fact, he was counted amongst the wealthiest people in the US in the 1920s. Politics was another one of his passions alongside business. He was a very generous man known for his huge contributions to causes like art and science.


$50.5 Billion


Even though his work was much appreciated by the government, his popularity declined after the Great Depression and he resigned in 1932


He played a key role in drafting of the Mellon-Berenger Agreement in 1926 which was created to set the amount of French debts to the United States arising from loans during the World War I


In 1921 Mellon was appointed the Secretary of the Treasury by the President Warren G


He was the third highest income-tax payer in the mid-1920s behind only John Rockefeller and Henry Ford


His young wife however developed relationships with other men which led to a bitter divorce in 1912


In 1900 he married a 20 year old English woman, Nora Mary McMullen


In 1889, he helped to establish the Union Trust Company and the Union Savings Bank of Pittsburgh, which was formed as a subsidiary firm


His father helped him and his brother Richard to start a lumber and coal business in 1872 after he left college


He was born on 24 March 1855 to Thomas Alexander Mellon and his wife Sarah Jane Negley

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