John Pierpont Morgan, Sr. (1837 - 1913) MP

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Birthplace: Hartford, CT, USA
Death: Died in Roma, Lazio, Italia
Occupation: International banker, Financier, Banker, Founder of J.P. Morgan & Co. & U.S. Steel
Managed by: Jocelynn Elaine Oakes
Last Updated:

About John Pierpont Morgan, Sr.

Wikipedia Biographical Summary:

"...John Pierpont Morgan (April 17, 1837 – March 31, 1913) was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company he merged in 1901 with the Carnegie Steel Company and several other steel and iron businesses, including Consolidated Steel and Wire Company owned by William Edenborn, to form the United States Steel Corporation..."

"....P. Morgan was born and raised in Hartford, Connecticut to Junius Spencer Morgan (1813–1890) and Juliet Pierpont (1816–1884) of Boston, Massachusetts. Pierpont, as he preferred to be known, had a varied education due in part to interference by his father, Junius...."

"...Morgan went into banking in 1857 at his father's London branch..."

"...Morgan during the American Civil War was required by law to either serve himself or provide a substitute; he paid $300 for a substitute while he worked to finance the Union war effort..."

"...Morgan was a lifelong member of the Episcopal Church, and by 1890 was one of its most influential leaders..."

"...In 1861, he married Amelia Sturges, a.k.a Mimi (1835–1862). After her death the next year, he married Frances Louisa Tracy, known as Fanny (1842–1924) on May 31, 1865. They had four children:

  1. John Pierpont Morgan (1867–1943),
  2. Louisa Pierpont Morgan (1866–1946) who married Herbert L. Satterlee,[23]
  3. Juliet Pierpont Morgan (1870–1952), and William Pierson Hamilton (1869–1950)
  4. Anne Morgan (1873–1952).

"...His house on Madison Avenue was the first electrically lit private residence in New York..."

"...Morgan died while traveling abroad on March 31, 1913, just shy of his 76th birthday. He died in his sleep at the Grand Hotel in Rome, Italy. Flags on Wall Street flew at half-staff; the stock market closed for two hours when his body passed through..."

"...At the time of his death, he only held 19% of his own net worth, an estate worth $68.3 million ($1.39 billion in today's dollars based on CPI, or $25.2 billion based on 'relative share of GDP'), of which about $30 million represented his share in the New York and Philadelphia banks. The value of his art collection was estimated at $50 million..."

His remains were interred in the Cedar Hill Cemetery in his birthplace of Hartford, Connecticut. His son, J. P. Morgan, Jr., inherited the banking business..."

SOURCE: Wikipedia contributors, 'J. P. Morgan', Wikipedia, The Free Encyclopedia, 19 August 2011, 23:39 UTC, <http://en.wikipedia.org/w/index.php?title=J._P._Morgan&oldid=445740400> [accessed 26 August 2011]

Additional Information:

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J. P. Morgan's Timeline

1837
April 17, 1837
Hartford, CT, USA
1861
1861
Age 23
New York, New York, NY
1865
May 3, 1865
Age 28
New York, New York, NY
1866
1866
Age 28
1867
September 7, 1867
Age 30
Irvington, NY, USA
1870
July 19, 1870
Age 33
Hartford, Hartford, CT
1870
Age 32
New York Ward 21 District 19 (2nd Enum), New York, New York
1873
1873
Age 35
1880
1880
Age 42
Highland, Orange, New York, United States
1913
March 31, 1913
Age 75
Roma, Lazio, Italia