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The birth of John Pierpont Morgan.
J.P. Morgan was born on April 17, 1837, in Hartford, Connecticut. He was born into a family of success. One of Morgan's relatives, James Pierpont, founded Yale University, and his grandfather, founded the Aetna Insurance Company. -
Morgan gets a Job
When J.P. Morgan joined his father's banking firm, J.S Morgan and Co, at the age 17, he was sent to work at the New York banking firm of Duncan, Sherman and Co, In 1857. -
J.P Morgan and Company.
Morgan decided to leave his current banking firm, Duncan, Sherman and Company, to make his own firm. In 1860, the J.P. Morgan and Company was formed as an agent for his father's firm. In 1864, Morgan asked Charles H. Dabney to be his partner, and soon, his company became Dabney and Morgan, Company. -
Morgan's First Marriage
In 1861, J.P. Morgan married Amelia Sturges, the child of a rich business man. But sadly, only four months after the wedding, she died of tuberculosis. -
Another One!
In 1865, Morgan married Frances Louisa Tracy, the daughter of a wealthy lawyer. Soon, they had four children. -
J.P. Morgan Likes Trains
In 1869, J.P. Morgan took over the Albany Susquehanna Railroad, after a long battle against financiers Jay Gould and James Fisk. This would be the start to his career in railroads. He would then go on to take over almost every single railroad in the United States. By the end of 1899, he owned every railroad except two. -
Morgan's and Edison's Breakthrough.
In 1881, J.P. Morgan's home become the first house in history to be powered by electricity, after him and Thomas Edison team up. -
General Electric is Made
In 1892, J.P. Morgan and Thomas Edison merge Edison General Electric with two other electric companies to form General Electric Company. -
Morgan Is Popular!
The Panic of 1893 was a very bad time for banking firms, for the overbuilding of railroads and shaky railroad financing caused many to firms to drop into a state of failure. President Grover Cleveland turned to Morgan for assistance. In 1895, J.P. Morgan then helped donate $56 million dollars worth of gold to the government. This action made Morgan one of the most recognizable people in the United States. -
Morgan Vs. Roosevelt
Theodore Roosevelt, was elected in 1901. You would think the president would be the most powerful man in the country, right? Well, that just wasn't the case. J.P. Morgan was just as powerful, maybe even more, than Mr. Roosevelt. Roosevelt felt that J.P. Morgan and his fellow multi - million dollar financiers should not be as powerful as the leader of the United States. Only five months into office, Roosevelt sued the Northern Securities Corporation, in attempt to stop Morgan's raging monopoly. -
Carnegie Steel
In 1901, J.P. Morgan underwent the biggest financial transaction in United States history. For $439 million dollars, he purchased Carnegie Steel. After this multi - million dollar company was offically his, J.P. Morgan transformed it into The United States Steel Corporation. This company would turn out to be the first billion dollar company in the United States. -
Death
On March 21st, 1913, J.P. Morgan passed away in his sleep at the Grand Hotel in Rome, Italy.
