Description
April 17, 1837 - March 31, 1913
Business Leader and Financier
John Pierpont Morgan was an influential financier and entrepreneur. His business specialty was railroads, and he is associated with the West Shore, Philadelphia & Reading, Richmond Terminal, Erie, and New England railroads. He is best known for his work consolidating railroads, a phenomenon that become known as “Morganization.” On several occasions he assisted the US government with its finances, including the 1877 float of $260 million in US government bonds and the later purchase of $200 million of government bonds with gold. His biggest business venture was the formation of the US Steel Corporation, America’s first billion-dollar corporation. He was also involved in the formation of Western Union Telegraph Company and General Electric.