American financier, banker, and art collector (1837–1913)
J. P. Morgan was an American banker and financier who lived from 1837 to 1913 and became one of the most powerful financial figures of his era. He matters because he played a major role in shaping American business and finance during the Industrial Revolution, and also assembled a significant art collection that reflected his wealth and influence.
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John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ultimately became known as JPMorgan Chase & Co., he was the driving force behind a wave of industrial consolidations in the United States at the turn of the twentieth century.
Over the course of his career on Wall Street, Morgan spearheaded the formation of several prominent multinational corporations including U.S. Steel, International Harvester, and General Electric. He and his partners also held controlling interests in numerous other American businesses including Aetna, Western Union, the Pullman Car Company, and 21 railroads. His grandfather Joseph Morgan was one of the co-founders of Aetna. Through his holdings, Morgan exercised enormous influence over capital markets in the United States. During the Panic of 1907, he organized a coalition of financiers that saved the American monetary system from collapse.
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