Contents
J. P. Morgan
Financing industrial consolidation and helping organise Wall Street’s response to the Panic of 1907.
General Electric · U.S. Steel
- Born
- 17 April 1837
- Birthplace
- Hartford, Connecticut, United States
- Died
- 31 March 1913
More people
J. P. Morgan
John Pierpont Morgan was an American banker whose partnerships supplied capital to railroads and industrial corporations. His influence over finance made him both a powerful crisis organiser and a symbol of concentrated wealth.
Early life
Banking family
His father Junius Morgan was a prominent international banker.
European education
Studied in Europe before beginning work in New York.
Career
- 1857
Banking apprenticeship
Entered the New York banking business.
- 1871
Drexel partnership
Co-founded Drexel, Morgan & Co., later J. P. Morgan & Co.
- 1890s–1900s
Corporate consolidation
Organised major industrial combinations and railway reorganisations.
Selected work
General Electric
Helped finance the merger forming the electrical company.
U.S. Steel
Organised the consolidation that created the steel corporation.
Financial rescue
Convened bankers to contain a spreading financial panic.
Beyond work
Art and manuscripts
Assembled collections that became central to the Morgan Library & Museum.
Public scrutiny
Testified before the Pujo Committee investigating concentrated financial power.
Sources & photo credit
Biography ↗Life and work ↗Photo: Unknown author Unknown author. Public domain · Original image. Cropped and displayed in monochrome.
.jpg){kind=link}