J. P. Morgan

Date of Birth: April 17, 1837

Zodiac Sign: Aries

Date of Death: March 31, 1913

Biography

John Pierpont Morgan, commonly known as J. P. Morgan, was one of the most influential financiers in American history. Born on April 17, 1837, in Hartford, Connecticut, he was the son of Junius Spencer Morgan, a successful banker. J. P. Morgan started his career in banking in 1857 at the London branch of Peabody, Morgan & Co. By 1871, he had co-founded Drexel, Morgan & Company, which later became J.P. Morgan & Co. His firm was instrumental in the formation of General Electric, U.S. Steel, and International Harvester. Morgan was known for reorganizing and consolidating struggling companies to make them profitable. He played a crucial role in stabilizing the American financial markets during the Panic of 1907. J. P. Morgan passed away on March 31, 1913, in Rome, Italy.

5 Interesting Facts about J. P. Morgan

1. J. P. Morgan was a key player in the formation of several major corporations, including General Electric and U.S. Steel.

2. He was an avid art collector, and his collection became the foundation for the Morgan Library & Museum in New York City.

3. Morgan played a crucial role in the creation of the Federal Reserve System.

4. He bailed out the U.S. government twice, in 1895 and during the Panic of 1907.

5. He had a prominent red nose, which was rumored to be a result of a chronic skin condition called rosacea.

5 Most Interesting Quotes from J. P. Morgan

1. “Go as far as you can see; when you get there, you’ll be able to see farther.”

2. “If you have to ask how much it costs, you can’t afford it.”

3. “A man always has two reasons for doing anything: a good reason and the real reason.”

4. “No problem can be solved until it is reduced to some simple form.”

5. “The first step towards getting somewhere is to decide that you are not going to stay where you are.”

Highest Net Worth Achieved

At the peak of his career, J. P. Morgan’s net worth was estimated to be around $80 million, equivalent to approximately $1.2 billion today.

Children

J. P. Morgan had four children with his first wife, Amelia Sturges, who died of tuberculosis shortly after their marriage. He later married Frances Louisa Tracy, and they had four children together: 1. Louisa Pierpont Morgan 2. John Pierpont Morgan Jr. 3. Juliet Pierpont Morgan 4. Anne Tracy Morgan