International financier John Pierpont Morgan has created a huge financial empire in the United States. He never held any government post, but he had a significant impact on the country's economy. Tough and merciless, he was the 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 19th century, he was considered the most omnipotent of the Americans and had the unspoken name "Jupiter", that is, the ruler of the heavens or the greatest of the greats.
He was a significant competitor for the Rothschild and Baring clan. 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 flow of capital from Europe to the United States, helped his country create an industrial economy, and once helped save the New York Stock Exchange from the collapse.
Biography
John Pierpont Morgan was born in 1937 in New York. His family then owned the large banking house G. S. Morgan & Co. It was run 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 occasionally had epileptic seizures.
However, Junius needed a successor to his business, 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 it.
Despite the lack of warmth in the family, John grew up optimistic and intelligent. Historiographers write that he never did his homework, but studied well.
After leaving school, John became a student at the University of Göttingen, and after receiving his education, he returned to New York. Under the patronage of his father, he got a job at the branch of the bank Duncan, Schermann & Co.
Financier career
Morgan's first financial deal was a failure: he bought shares in a shipping company and went into the red by almost one and a half thousand dollars. However, he did not give up: he borrowed money from his father, and the next deal with shares brought him 100% profit.
He went to dishonest deals: he traded in out-of-order weapons, carried out fraud with US bank notes, was engaged in foreign exchange transactions. However, he got away with everything thanks to connections in the highest circles.
He was interested in railways, the steel industry, and electricity production enterprises.
He was doing business, as they said, with some kind of "satanic fury", and no one could resist his aggressive pressure.
Personal life
Morgan was very fond of women, was married, and at an old age he handed over his affairs to his son - John Morgan Jr.
