Andrew Mellon

Date of Birth: March 24, 1855

Zodiac Sign: Aries

Date of Death: August 26, 1937

Biography

Andrew William Mellon was an American banker, industrialist, philanthropist, and art collector who played a significant role in shaping the economic landscape of the early 20th century United States. Born into a wealthy family in Pittsburgh, Pennsylvania, Mellon was groomed from an early age to manage and expand the family business interests. He succeeded spectacularly, becoming one of the leading financiers of his time. Mellon joined his father’s banking firm, T. Mellon & Sons, in 1874, and by 1882, he had assumed control. Under his leadership, the bank flourished, financing a wide range of industries including oil, aluminum, and steel. He was instrumental in the founding and growth of several major corporations, including Alcoa, Gulf Oil, and Union Steel. In 1921, Mellon was appointed Secretary of the Treasury under President Warren G. Harding, a position he held through the administrations of Calvin Coolidge and Herbert Hoover until 1932. His tenure was marked by significant tax cuts, which he believed would spur economic growth, although his policies have been the subject of much debate. Mellon was also a notable philanthropist. He funded the establishment of the National Gallery of Art in Washington, D.C., and donated his extensive art collection to the museum upon his death. His legacy in both business and public service remains influential to this day.

5 Interesting Facts about Andrew Mellon

1. Andrew Mellon was one of the wealthiest individuals in the United States during the early 20th century.

2. He served as U.S. Secretary of the Treasury for over a decade, from 1921 to 1932.

3. Mellon was a key figure in the creation of the National Gallery of Art in Washington, D.C.

4. He played a significant role in financing the development of the aluminum industry through Alcoa.

5. Mellon donated over $10 million to the University of Pittsburgh, contributing to the construction of the Cathedral of Learning.

5 Most Interesting Quotes from Andrew Mellon

1. “Strong men keep coming on.”

2. “Give me a man who knows his own mind and can keep his temper.”

3. “The man who gives the most has the most.”

4. “If you would like to know the value of money, go and try to borrow some.”

5. “The government is just as much a business as the making of steel or the running of a railroad.”

Highest Net Worth Achieved

At his peak, Andrew Mellon’s net worth was estimated to be around $300-400 million, which would be equivalent to several billion dollars in today’s terms.

Children

Andrew Mellon had two children: 1. Ailsa Mellon Bruce (1901–1969) – She was a prominent philanthropist and art collector. 2. Paul Mellon (1907–1999) – He was also a philanthropist and a major benefactor of the arts, continuing his father’s legacy.