J. P. Morgan’s profile picture

J. P. Morgan

Financier and Banker
J. P. Morgan’s profile picture
Net worth 2018: $9 Million
Industry: Business People
Residence: Hartford
Country: United States
BirthDay: 17 April 1837
Sigh: Taurus
Died On: March 31, 1913
Education: The English High School, University of Göttingen, Cheshire Academy
BIOGRAPHY

J. P. Morgan was bornon 17 April 1837 in Hartford, American, is Financier and Banker. J.P. Morgan was an American financier and banker who founded J.P. Morgan & Co., one of the leading financial firms of the United States. Born to a successful financier in Connecticut, Morgan received education in Boston and then attended the University of Göttingen in Germany. Thereafter, he was trained as an accountant at the New York banking firm of Duncan, Sherman and Company. Later, Morgan got involved in his father's banking company and subsequently became a partner in Drexel, Morgan and Company. In 1895, the firm was restructured as J. P. Morgan and Company, evolving into one of the most important banking houses in the world. In the meantime, Morgan arranged the merger of Edison General Electric and the Thompson-Houson Electric Company to form General Electric, which materialized as the primary electrical-equipment manufacturing company in the country. After financing the creation of the Federal Steel Company, he later merged it with Carnegie Steel Company to form the United States Steel Corporation. During his final years, Morgan concentrated on gaining control of nation’s leading corporations and financial institutions. In addition to being a foremost financier, Morgan was also an enthusiastic art collector and a leading philanthropist of his time. Hailed as a master of finance at the time of his death in 1913, J.P. Morgan is still considered as one of America's leading businessmen and is largely credited for shaping the nation.

TIMELINE
1913

Morgan died in his sleep on March 31, 1913, at the Grand Hotel in Rome, Italy

1907

During the stock market panic of 1907, Morgan directed the banking coalition and led several business communities, acquiring control of various banks and insurance companies in the process

1901

In 1901, he arranged the merger of several steel and iron companies, and formed the United States Steel Corporation, which gradually became the world's largest steel manufacturer

1893

government during the economic depression following the panic of 1893

1892

In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric

1871

In 1871, Morgan started his own private banking company and later restructured it as J

1865

In February 1865, Morgan tied the knot with Frances Tracy, also known as Fanny

1864

From 1864 to 1872, he served as an influential member of the firm of Dabney, Morgan, and Co

1861

In 1861, Morgan married Amelia Sturges but unfortunately she died the following year

1857

In 1857, he started working at the London branch of Peabody, Morgan & Co

1837

John Pierpont Morgan was born on April 17, 1837, in Hartford, Connecticut, to Junius Spencer Morgan, a wealthy financier, and his wife Juliet Pierpont

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