Tuesday, September 11, 2018

J.Pierpont Morgan

J.Pierpont Morgan was an American financier and a banker who controlled corporate finance and industrial consolidation in the US around 19th - 20th century. When he was young, he used to study accounting instead of playing like other kids did. He played important roles in International harvester, AT&T, and steel cooperation. When there was some financial problem in the US the government knew who to call. They knew Morgan would help them. Morgan died in his sleep at the age 75, 1913. He had the power even though he wasn't the richest man.

1 comment:

Anonymous said...

JP Morgan may not have had a great deal of money; however, as a private banker for nearly all of the cooperation/ monopolists / investors, he would be able to control more capital than nearly anyone else on the planet at that time. He may have had around 9x less money than Rockefeller, but his power was in definite in parallel, if not more. Legends say that once a news paper company published a picture of his nose disease. The day after, JP bought the company and fired everyone.



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