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Did JP Morgan have children?
J. P. Morgan Jr.Anne MorganLouisa Pierpont MorganJuliet Pierpont MorganJ. P. Morgan/Children
What family owns JP Morgan?
Morgan familyJ. P. MorganChildren4, including J. P. Morgan Jr. Anne MorganParent(s)Junius Spencer Morgan Juliet PierpontFamilyMorgan familySignature10 more rows
Are there any descendants of Jpmorgan?
However, no descendants have been active in JP Morgan since the mid-1970s. As for the Morgan family fortune, it diminished during the Great Depression. The family's penchant for philanthropy further reduced the wealth. Most of the fortune was in art and property, which has depreciated with time.
Is the Morgan family still wealthy?
The Morgan family fortune was diminished during the Great Depression, and philanthropy further reduced its breadth. As a result, the family's wealth has thinned out among the approximately 200 descendants, Mr. Pennoyer says.
How rich is the JP Morgan family?
By one estimate, J. P. Morgan (1837–1913) is believed to have been the 24th richest American in history, inflation-adjusted. His fortune is believed to have grown to about $38 billion (2007 USD). According to historians Michael M. Klepper and Robert E.
Did JP Morgan have any siblings?
Junius Spencer Morgan, Jr.Sarah Spencer MorganMary Lyman MorganJuliet Pierpont MorganJ. P. Morgan/Siblings
How did J.P. Morgan get rich?
He made a fortune in railroads. In 1898, Morgan formed the Federal Steel Company. Again he merged with other steel companies, forming the huge United States Steel Corporation. He made another fortune in steel.
Who is the biggest shareholder of J.P. Morgan?
The Vanguard Group, Inc.Top 10 Owners of JPMorgan Chase & CoStockholderStakeShares ownedThe Vanguard Group, Inc.8.78%257,458,554SSgA Funds Management, Inc.4.44%130,126,538BlackRock Fund Advisors4.40%129,151,135Geode Capital Management LLC1.68%49,183,0106 more rows
What is the origin of the last name Morgan?
The Morgan name is Celtic in origin, arising from the ancient Britons of Wales. It comes from the Old Welsh personal name Morcant, composed of the Welsh elements "mor," meaning "sea," and cant meaning "circle."
What did J.P. Morgan do with his money?
Morgan's personal wealth was enormous, and during his life he used substantial portions of his wealth in philanthropic endeavors. He donated to charities, churches, hospitals, and schools. He also accumulated a huge collection of art. When he died in 1913, much of his collection went to the Metropolitan Museum of Art.
What does JP stand for Morgan?
J. Pierpont MorganJ. Pierpont Morgan dies while traveling in Rome on March 31, 1913. His son, J.P. (Jack) Morgan, Jr. becomes J.P. Morgan & Co.'s senior partner.
Who is the richest family in the world?
The top 10 richest families in 2022 by estimated wealth are:The Waltons with $212 billion24.The Mars family with $142 billion.The Kochs with $124 billion.The Hermès family with $112 billion.The Sauds with $100 billion.The Ambanis with $94 billion.The Wertheimers with $62 billion.The Johnsons with $61 billion.More items...
Are the Rockefellers still rich?
How much is the Rockefeller family worth today? Rockefeller family's Net Worth is over $360 Billion Dollars.
What was J.P. Morgan's net worth when he died?
about $80 millionUpon his death in Rome on March 31, 1913, J.P. Morgan's net worth has been estimated to have been about $80 million. In 2022 dollars, that's equivalent to about $2.3 billion, though some speculate that his fortune at the peak of his career might have been worth as much as $60 billion in 2022 dollars.
What is the biggest bank in the world?
The Industrial and Commercial Bank of China (ICBC) was established in 1984 and has grown rapidly to become the world's largest bank by assets. The total value of its assets as of this writing is staggering: $3.47 trillion.
How much was J.P. Morgan worth in his lifetime?
J.P. Morgan Net Worth: J. P. Morgan was a highly successful American businessman and financier. At the time of his death J.P. Morgan had an inflation-adjusted net worth of somewhere between $25 billion and $45 billion.
How much is the bank of J.P. Morgan worth?
How much a company is worth is typically represented by its market capitalization, or the current stock price multiplied by the number of shares outstanding. JPMorgan Chase net worth as of September 22, 2022 is $326.13B. JPMorgan Chase & Co. is one of the largest financial service firms in the world.
Is the personal librarian a true story?
I called up authors Marie Benedict and Victoria Christopher Murray to discuss The Personal Librarian — the fictionalized account of the very real Belle da Costa Greene. We talked about Greene's extraordinary career, why she chose to pass as white and the friendship the authors forged while writing the book.
Was J.P. Morgan part of the Gilded Age?
John Pierpont Morgan was an American financier and industrial organizer during the Gilded Age. In 1885, America was years into a depression, and gold reserves were down more than 50%. Morgan feared that if the U.S. dollar was devalued, his fortune would be in jeopardy.
Who owns Chase bank now?
JPMorgan ChaseJ.P. Morgan Equity Holdings, I...Chase Bank/Parent organizations
Who owns J.P. Morgan?
JPMorgan ChaseJ.P. Morgan Equity Holdings, I...Chase Bank/Parent organizations
Who is Chase Bank owned by?
JPMorgan ChaseChase BankThe current logo, in use since 2005Trade nameChase BankParentJPMorgan ChaseWebsitewww.chase.comFootnotes / references14 more rows
What is the biggest bank in the world?
The Industrial and Commercial Bank of China (ICBC) was established in 1984 and has grown rapidly to become the world's largest bank by assets. The total value of its assets as of this writing is staggering: $3.47 trillion.
Is J.P. Morgan and Chase Bank the same?
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with $2.6 trillion in assets and operations worldwide.
Where was Morgan born?
Morgan was born and raised in Hartford, Connecticut, the son of Junius Spencer Morgan (1813–1890) and Juliet Pierpont (1816–1884) of the influential Morgan family. Pierpont, as he preferred to be known, had a varied education due in part to his father's plans. In the fall of 1848, he transferred to the Hartford Public School, then to the Episcopal Academy in Cheshire, Connecticut (now Cheshire Academy ), where he boarded with the principal. In September 1851, he passed the entrance exam for The English High School of Boston, which specialized in mathematics for careers in commerce. In April 1852, an illness struck Morgan which became more common as his life progressed: Rheumatic fever left him in such pain that he could not walk, and Junius sent him to the Azores to recover.
What was Morgan's main business?
In his ascent to power, Morgan focused on railroads, America's largest business enterprises. He wrested control of the Albany and Susquehanna Railroad from Jay Gould and Jim Fisk in 1869; led the syndicate that broke the government-financing privileges of Jay Cooke; and developed and financed a railroad empire by reorganization and consolidation in all parts of the United States. He raised large sums in Europe; but rather than participating solely as a financier, he helped the railroads reorganize and achieve greater efficiency. He fought speculators interested only in profit and built a vision of an integrated transportation system. He successfully marketed a large part of William H. Vanderbilt 's New York Central holdings in 1883. In 1885 he reorganized the New York, West Shore & Buffalo Railroad, leasing it to the New York Central. In 1886 he reorganized the Philadelphia & Reading, and in 1888 the Chesapeake & Ohio. After Congress passed the Interstate Commerce Act in 1887, Morgan set up conferences in 1889 and 1890 that brought together railroad presidents to help the industry follow the new laws and write agreements for the maintenance of "public, reasonable, uniform and stable rates". The first of their kind, the conferences created a community of interest among competing lines, paving the way for the great consolidations of the early 20th century. In addition, J P Morgan & Co, and the banking houses which it succeeded, reorganized a large number of railroads between 1869 and 1899. Morgan also financed street railways, especially in New York City.
What cigars did Morgan smoke?
Morgan smoked dozens of cigars per day and favored large Havana cigars dubbed Hercules' Clubs by observers.
What did the left wing think of Morgan?
While conservatives in the Progressive Era hailed Morgan for his civic responsibility, his strengthening of the national economy, and his devotion to the arts and religion, the left wing viewed him as one of the central figures in the system it rejected. Morgan redefined conservatism in terms of financial prowess coupled with strong commitments to religion and high culture.
Why is Johnny Morgan's nose purple?
As the deformity worsens, pits, nodules, fissures, lobulations, and pedunculation contort the nose. This condition inspired the crude taunt "Johnny Morgan's nasal organ has a purple hue.".
Where did Morgan go on the Titanic?
Morgan was scheduled to travel on the ill-fated maiden voyage of the RMS Titanic, but canceled at the last minute, choosing to remain at a resort in Aix-les-Bains, France. The White Star Line, which operated Titanic, was part of Morgan's International Mercantile Marine Company, and Morgan was to have his own private suite and promenade deck on the ship. In response to the sinking of Titanic, Morgan purportedly said, "Monetary losses amount to nothing in life. It is the loss of life that counts. It is that frightful death."
Who is Roger Fry?
For a number of years the British artist and art critic Roger Fry worked for the Museum, and in effect for Morgan, as a collector.
Who is the Morgan family?
The Morgan family is an American family and banking dynasty, which became prominent in the U.S. and throughout the world in the late 19th century and early 20th century. Members of the family amassed an immense fortune over the generations, primarily through the noted work of John Pierpont (J. P.) Morgan (1837-1913).
What was the Morgan family known for?
P. Morgan was the de facto leader of this dynasty, having been the most prominent businessman in America at the turn of the century. He revolutionized numerous industries, including electricity, railroad, and steel. Through his business methods, he was highly successful in asserting his power as one of the most influential businessmen in America. Historians describe the Morgan family along with its web of partners to be part of the large American banking empire known as the House of Morgan. It is difficult to place an exact beginning and end date on the dynasty. However, many scholars attribute the death of J. P. Morgan to the end of the banking dynasty. American journalist and historian Ron Chernow wrote about the prominence of this dynasty under J. S. Morgan and J. P. Morgan. In The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, he chronicles the lives of the Morgans, whose lives are "encrusted with legend... ripe with mystery, [and] exposed to such bitter polemics".
What social clubs did Pierpont Morgan belong to?
Pierpont Morgan was also a member of numerous social clubs including the Union League, New York Yacht Club, and Knickerbocker Club. In 1891, he also founded his own club, the Metropolitan Club. Famous members included Cornelius Vanderbilt, Darius Ogden Mills, and more.
What bank did Junius Morgan work for?
Following that, he worked at a number of firms including: J. M. Beebe, Morgan, and Company (1851–1854), Boston's largest mercantile bank at the time. In 1864, Junius Morgan changed the name of George Peabody and Company to J. S. Morgan and Company.
What is the House of Morgan about?
In The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, he chronicles the lives of the Morgans, whose lives are "encrusted with legend... ripe with mystery, [and] exposed to such bitter polemics".
Where did Miles Morgan come from?
The Morgan family originated in Wales during the 17th century. Born in Llandaff, Glamorgan County, Miles Morgan was the son of William Morgan. At the age of 20, Miles sailed for America, along with his brothers, John and James, seeking new opportunities in the New World. Arriving in April 1636, he landed in the Massachusetts Bay Colony. Settling in Roxbury and later Springfield, Massachusetts, Miles met Prudence Gilbert, his future wife. Miles was a soldier during the sack of Springfield. He later worked on a farm and lived a comfortable life. He continued living in the city until the age of eighty-three.
Who was Joseph III's son?
Junius Spencer (J. S.) Morgan, Joseph III's son, played a prominent role in the banking industry. From a young age, he showed interest in entering the business field like his father. In 1829, at the age of 15, he worked as an apprentice with a merchant, Alfred Welles in Boston.
What was Morgan involved in?
railroad industry experienced rapid overexpansion and heated competition (the nation’s first transcontinental rail line was completed in 1869), Morgan was heavily involved in reorganizing and consolidating a number of financially troubled railroads. In the process, he gained control of significant portions of these railroads’ stock and eventually controlled an estimated one-sixth of America’s rail lines.
Who is John Pierpont Morgan?
One of his maternal relatives, James Pierpont (1659-1714), was a founder of Yale University; his paternal grandfather was a founder of the Aetna Insurance Company; and his father, Junius Spencer Morgan (1813-90), ran a successful Hartford dry-goods company before becoming a partner in a London-based merchant banking firm. After graduating from high school in Boston in 1854, Pierpont, as he was known, studied in Europe, where he learned French and German, then returned to New York in 1857 to begin his finance career.
How did Morgan help the United States?
During Morgan’s era, the United States had no central bank so he used his influence to help save the nation from disaster during several economic crises. In 1895, Morgan assisted in rescuing America’s gold standard when he headed a banking syndicate that loaned the federal government more than $60 million. In another instance, the financial panic of 1907, Morgan held a meeting of the country’s top financiers at his New York City home and convinced them to bail out various faltering financial institutions in order to stabilize the markets.
How did Amelia Morgan die?
Amelia Morgan died of tuberculosis four months after the couple’s wedding. In 1865, Morgan married Frances Louisa Tracy (1842-1924), the daughter of a New York lawyer, and the pair eventually had four children.
Who was the most powerful banker of his era?
One of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations.
Who owned the Titanic?
Titanic, owned by one of the IMM companies, White Star, sank on its maiden voyage after hitting an iceberg. Morgan, who attended the ship’s christening in 1911, was booked on the ill-fated April 1912 voyage but had to cancel.
What was John Pierpont Morgan's full name?
His full name was John Pierpont Morgan Jr. He graduated from the St. Paul’s School and Harvard in 1889 and joined his father’s firm J.P. Morgan & Company, in 1892. After working in his father’s firm for some time, he moved to London and joined his grandfather's company, J.S. Morgan & Company. Continue Reading Below.
What was Pierpont Morgan's memorial to his father?
In 1924, Morgan also formed the Pierpont Morgan Library as a memorial to his dead father. He opened it as a public institution and later on, his personal librarian Belle da Costa Greene became its director.
What was Morgan Guaranty's role in World War I?
After the World War I, his trust Morgan Guaranty managed Germany's reparation payments. By 1920s, Morgan Guaranty was a leading lender to Germany and Europe and as a result it became one of the world's most important banking institutions of the time.
Why was Morgan shot twice?
Holt shot Morgan in protest against his export of weapons to Britain and France during World War I. Morgan was fortunate to survive the assassination attempt and recovered from his injuries.
How did Henry Morgan die?
Henry Morgan, his son, along with Harold Stanley, co-founded the Morgan Stanley financial corporation. Morgan Jr. died of stroke on March 13, 1943, at the age of 75, in Boca Grande, Florida, U.S.
Who lived at 14 Princess Gate?
In 1920, Morgan donated his London home, 14 Princess Gate, to the government of the United States for using it as an embassy. Young John F. Kennedy, the son of Joseph P. Kennedy, the U.S. ambassador, also lived in Morgan’s residence for some time.
Where is Morgan's library?
Greene, who never married, spent the rest of her working life building up the collections that would form Morgan’s world-class library, housed in an elegant purpose-built McKim, Mead & White palazzo on the corner of Madison Avenue and 38th Street in New York City.
Who was the father of the gifted 10th?
Her father, Richard Theodore Greener, was a proud and prominent member of the Talented Tenth, cited by name as one of the “new group of educated and gifted leaders” in W.E.B. DuBois’s influential 1903 essay of that name.
Why did Jack Morgan invite his father to meet him?
As legend goes, Jack Morgan was keen on buying a lavish estate in England, where he had invited his father JP Morgan to meet him for a walk on the grounds to visually pitch his financial proposal for purchasing the real estate. Jack thought his father would see the light of his vision for the property, and loan him the money needed to buy ...
Where was Jack Morgan Jr. arraigned?
Jack Morgan Jr. subsequently arraigned for his father’s dead corps to be transported to the Grand Hotel in Rome, Italy.
Why did Jack hatch a plot?
A plot Jack hatched while still in America, upon thought of a second financial denial from his billionaire father to secure the land, and key reason why he insisted his father come on site to England and see the value of the investment for himself, firsthand.
What did Jack's father tell him about his estate?
But instead, his father flipped out, telling him that he was going to be working in America and wouldn’t need such extravagant estate abroad.
Did Jack's father have an autopsy?
No autopsy was ever performed on the corpse, because at the time, Italy did not carry out autopsies, and specifically why, to avoid the obvious conclusion as to the cause of death, Jack had his father’s body transported to the nearest country outside of England that forewent ’cause of death’ scrutiny.
Who was the librarian who retired from Pierpont Morgan Library?
After Morgan's death in 1913, Greene continued on in her role working for his son J.P. Morgan Jr.. In 1924 she was named director of the Pierpont Morgan Library, following the transition of Morgan's formally personal collection to a public institution. She retired from the position in 1948. When she died in 1950 the New York Times referred to her as the "one of the best known librarians in the country."
When was the Pierpont Morgan Library incorporated?
In 1924 the private collection was incorporated by the State of New York as a library for public uses, and the Board of Trustees appointed Greene first director of the Pierpont Morgan Library.
Who was Belle Greene's mother?
Although her birth date is sometimes noted as December 13, 1883, her biographer Heidi Ardizzone lists Greene's birth date as November 26, 1879. : 32 Her mother was Genevieve Ida Fleet, a music teacher and member of a well-known African-American family in Washington, D.C. : 174 Her father, Richard Theodore Greener, was the first black student and first black graduate of Harvard (class of 1870). He went on to work as an attorney, professor and racial justice activist who served as dean of the Howard University School of Law. Once Greene took the job with Morgan, she likely never spoke to her father again. She may have met him once in Chicago around 1913, but no written records of this meeting are known. Historians long believed that Richard Greener had lost most of his papers in the 1906 San Francisco earthquake.
Where are the Bernard and Mary Berenson papers?
The Bernard and Mary Berenson Papers in Harvard's Villa I Tatti, Florence, contains numerous letters by Greene. Although Greene may have burned all personal papers in her possession shortly before her death, her professional correspondence is archived in the collections of The Morgan Library & Museum .
Overview
Childhood and education
Morgan was born and raised in Hartford, Connecticut, to Junius Spencer Morgan (1813–1890) and Juliet Pierpont (1816–1884) of the influential Morgan family. Pierpont, as he preferred to be known, had a varied education due in part to his father's plans. In the fall of 1848, he transferred to the Hartford Public School, then to the Episcopal Academy in Cheshire, Connecticut (now Cheshire Academy), where he boarded with the principal. In September 1851, he passed the entrance exa…
Career
Morgan went into banking in 1857 at the London branch of merchant banking firm Peabody, Morgan & Co., a partnership between his father and George Peabody founded three years earlier. In 1858, he moved to New York City to join the banking house of Duncan, Sherman & Company, the American representatives of George Peabody and Company. During the American Civil War, …
Unsuccessful ventures
Morgan did not always invest well, as several failures demonstrated.
In 1900, the inventor Nikola Tesla convinced Morgan he could build a trans-Atlantic wireless communication system (eventually sited at Wardenclyffe) that would outperform the short range radio wave-based wireless telegraph system then being demonstrated by Guglielmo Marconi. Morgan agreed to give Tesla $150,000 (equivalent to $4,885,800 in 2021) to build the system in …
Morgan corporations
From 1890 to 1913, 42 major corporations were organized or their securities were underwritten, in whole or part, by J.P. Morgan and Company.
• American Bridge Company
• American Telephone & Telegraph
• Associated Merchants
Later years
Morgan was a member of the Union Club in New York City. When his friend, Erie Railroad president John King, was black-balled, Morgan resigned and organized the Metropolitan Club of New York. He donated the land on 5th Avenue and 60th Street at a cost of $125,000, and commanded Stanford White to "...build me a club fit for gentlemen, forget the expense..." He invited King in as a charter me…
Personal life
In 1861, Morgan married Amelia Sturges, called Mimi (1835–1862). He married Frances Louisa "Fanny" Tracy (1842–1924), on May 31, 1865. They had four children:
• Louisa Pierpont Morgan (1866–1946), who married Herbert L. Satterlee (1863–1947)
Death
Morgan died while traveling abroad on March 31, 1913, just shy of his 76th birthday. He died in his sleep at the Grand Hotel Plaza in Rome, Italy. His body was brought back to America aboard the SS France, a French Line passenger ship. Flags on Wall Street flew at half-staff, and in an honor usually reserved for heads of state, the stock market closed for two hours when his body passed t…
Overview
The Morgan family is an American family and banking dynasty, which became prominent in the U.S. and throughout the world in the late 19th century and early 20th century. Members of the family amassed an immense fortune over the generations, primarily through the noted work of John Pierpont (J. P.) Morgan (1837–1913).
Morgan members were notable for dominating the banking industry during their time. J. P. Morg…
History
The Morgan family originated in Wales during the 17th century. Born in Llandaff, Glamorgan County, Miles Morgan was the son of William Morgan. At the age of 20, Miles sailed for America, along with his brothers, John and James, seeking new opportunities in the New World. Arriving in April 1636, he landed in the Massachusetts Bay Colony. Settling in Roxbury and later Springfield, Massachusetts, Miles met Prudence Gilbert, his future wife. Miles was a soldier during the sack …
Wealth
By one estimate, J. P. Morgan (1837–1913) is believed to have been the 24th richest American in history, inflation-adjusted. His fortune is believed to have grown to about $38 billion (2007 USD).
According to historians Michael M. Klepper and Robert E. Gunther, Morgan had one of the highest wealth: GNP ratios in American history. In their book, The Wealthy 100: From Benjamin Franklin to Bill Gates, Morgan's wealth:GNP ratio was 328. At the time, his fortune equaled around $119 billi…
Genealogy
• William Morgan (1582–1649) m. Elizabeth Morgan (née Morgan), the father-in-law of William Morgan (of Machen and Tredegar).
• Junius Spencer (J.S.) Morgan (1813–1890) m. Juliet (Julia) Morgan (née Pierpont)
See also
• J. P. Morgan
• Junius Spencer Morgan
• Rockefeller family
• Mellon family
• List of banking families
Select bibliography
• The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, by Ron Chernow