International financier John Pirpont Morgan created a huge financial empire in the United States. He never held a single government post, but had a significant impact on the country's economy. Tough and merciless, he was a living embodiment of capitalism.
John Morgan created several industrial giants, including General Electric, United States Steel Corporation, Western Union, American Telephone and Telegraph Company and others. At the end of the XIX century, he was considered the most omnipotent of the Americans and had the unspoken name "Jupiter", that is, the ruler of heaven or the greatest of the great.
He was a significant competitor to the Rothschild and Baring clans. And all because he considered competition unprofitable and therefore simply bought up those companies that were useful to him.
Morgan kept his finger on the pulse of the overflow of capital from Europe to the United States, helped his country create an industrial economy, and once helped save itself from the collapse of the New York Stock Exchange.
Biography
John Pirpont Morgan was born in 1937 in New York. His family then owned a large banking house GS Morgan & Co. It was controlled by the boy's father - Junius Morgan.
John was born very weak and was ill all his childhood. Sometimes he could spend six months in bed due to pneumonia or a skin disease. He also had arthritis, and sometimes had seizures of epilepsy.
However, Junius needed a continuer of his work, and as soon as his son got a little better, he began to teach him banking and was very strict, sometimes to the point of cruelty. He always said that his son should not only keep his father’s business, but should also increase him.
Despite the lack of warmth in the family, John grew upbeat and smart. Historiographers write that he never completed his homework, but studied well.
After leaving school, John became a student at the University of Gottingen, and after receiving his education, he returned to New York. Under the patronage of his father, he was employed at a branch of Bank Duncan, Shermann & Co.
Career Financier
Morgan’s first financial deal was a failure: he bought the shares of the shipping company and went minus almost a half thousand dollars. However, he did not give up: he borrowed money from his father, and the next deal with shares brought him a profit of 100%.
He entered into dishonest deals: he sold weapons that failed, committed fraud with US bank notes, and was engaged in currency transactions. However, everything got away with him thanks to connections in higher circles.
He was interested in railways, the steel industry, and enterprises for the production of electricity.
He was busy, as they say, with some kind of "satanic fury", and no one could resist his aggressive pressure.
