J.P. Morgan: The Finance King Is Born
J.P. Morgan: The Finance King Is Born
Born on April 17, 1837, in Hartford, Connecticut, John Pierpont Morgan had business already running through his blood. His father, Junius Spencer Morgan had been the owner of a mercantile house in Boston prior to founding his own successful investment firm, J.S. Morgan & Co. in London, England. He was highly respected by his peers for helping failing companies and giving loans when they were badly needed, including a loan to the French after the Franco-Prussian War. Junius would also later go on to finance many of his son’s ventures. Meanwhile, Morgan’s mother, Sarah Pierpont, came from a reputable and wealthy family in Boston, whose father was also well versed with the business world. Although he was a well-known preacher, Sarah’s father would take advantage of any opportunity to distribute his own two business cents to anyone who would hear it.
Morgan was forced to overcome a rare disorder as a young boy that often caused fainting spells and fatigue, but he dedicated himself from an early age to academic excellence and attended only the very best schools, including the English High School of Boston. After graduating from high school, Morgan moved to Germany to study at its most prestigious institution, the University of Gottigen. It was here where he would meet his future wife, Amelia Sturges. Despite being in the later stages of tuberculosis, Morgan married her, hoping that a Mediterranean honeymoon would help cure her. Unfortunately, Amelia died of tuberculosis just four months later. Heavily traumatized by this incident, Morgan would forever after visit Amelia’s grave on their anniversary each year. This also led him to immerse himself completely in work as a distraction. He later remarried Frances Tracy, with whom he would have four children, all of whom would go on to follow in their father’s footsteps.
In 1857, after a brief study tour in the Caribbean, Morgan took up employment at Duncan, Sherman and Co., a banking firm based in New York City. Here, he worked without pay in order to better learn the ins and outs of investment banking. After three years, Morgan moved to George Peabody and Co. to work as an American agent. His father was a partner with Peabody and so Morgan strove doubly hard to establish himself.
Under his father’s wing, Morgan excelled. He left Peabody to work for Dabney, Morgan & Co. and later, Drexel, Morgan & Co in 1871. He had found his niche and knew that he was meant for a life in investment banking. It would not be long before Morgan would break out from under his father’s shadow and carve out a reputation for himself.
JP Morgan The Finance King Is Born
Like this article? Share it with your friends
Forbes.com editors ranked him as the second most influential businessman of all time as well as the most important banker who ever lived. An American financier and banker, J.P. Morgan became one of the wealthiest men in the world, who created a reputation for himself after having rescued the U.S. government from financial nightmare, and after having created the world’s first billion-dollar company among other feats. The empire and the company he created live on to this day as the third-largest financial services firm in the U.S.
Born on April 17, 1837, in Hartford, Connecticut, John Pierpont Morgan had business already running through his blood. His father, Junius Spencer Morgan had been the owner of a mercantile house in Boston prior to founding his own successful investment firm, J.S. Morgan & Co. in London, England. He was highly respected by his peers for helping failing companies and giving loans when they were badly needed, including a loan to the French after the Franco-Prussian War. Junius would also later go on to finance many of his son’s ventures. Meanwhile, Morgan’s mother, Sarah Pierpont, came from a reputable and wealthy family in Boston, whose father was also well versed with the business world. Although he was a well-known preacher, Sarah’s father would take advantage of any opportunity to distribute his own two business cents to anyone who would hear it.
Morgan was forced to overcome a rare disorder as a young boy that often caused fainting spells and fatigue, but he dedicated himself from an early age to academic excellence and attended only the very best schools, including the English High School of Boston. After graduating from high school, Morgan moved to Germany to study at its most prestigious institution, the University of Gottigen. It was here where he would meet his future wife, Amelia Sturges. Despite being in the later stages of tuberculosis, Morgan married her, hoping that a Mediterranean honeymoon would help cure her. Unfortunately, Amelia died of tuberculosis just four months later. Heavily traumatized by this incident, Morgan would forever after visit Amelia’s grave on their anniversary each year. This also led him to immerse himself completely in work as a distraction. He later remarried Frances Tracy, with whom he would have four children, all of whom would go on to follow in their father’s footsteps.
In 1857, after a brief study tour in the Caribbean, Morgan took up employment at Duncan, Sherman and Co., a banking firm based in New York City. Here, he worked without pay in order to better learn the ins and outs of investment banking. After three years, Morgan moved to George Peabody and Co. to work as an American agent. His father was a partner with Peabody and so Morgan strove doubly hard to establish himself.
Under his father’s wing, Morgan excelled. He left Peabody to work for Dabney, Morgan & Co. and later, Drexel, Morgan & Co in 1871. He had found his niche and knew that he was meant for a life in investment banking. It would not be long before Morgan would break out from under his father’s shadow and carve out a reputation for himself.
JP Morgan The Finance King Is Born
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
|
For an online Car Loan Calculator and finance for a cheap car loan. Get approved on car loans or car finance in Australia with cheap bank car loans and finding a car finance broker. Commercial car loans including business car finance and car lease. Car Loan Calculator has information on finance companies and getting the right cheap car loan from banks at best car loan rates and a online car loan calculator for all finance in Australia. Get the best car finance with our help at Car Loan Calculator and Finance Ezi. - Visit Richard Jefferies's Website |
|||
Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
|
 | ||
 |
||
 |
||
 |
||
 | ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
 |
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
 |
 Managing Customer Relationships 3 Networking Skills Host Beneficiary Solving Problems SEO Made Easy |
|
 | ||
 |
Top 50 Diversion Blogs
Top Diversion Blogs of 2009 | |
 |
Email The Reporters
Press Release Builder | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||
|
| ||||||||||
|
|
||||||||||