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John P. Morgan

J. P. Morgan and Company

1861 - 1913

Finance

pre-1900 b. 1837
male
Personal
Born-Died1837 - 1913
BirthplaceConnecticut (CT)
RaceWhite
FatherOwner, Large Business
Era - pre-1900

Morgan was a major financier and power broker at the beginning of the 20th century. Through his elaborate financing programs, he controlled numerous corporations including General Electric, AT&T and International Harvester – essentially “overseeing” the backbone of the American economy. In 1901, Morgan purchased Andrew Carnegie’s steel business and created U.S. Steel, which became the first billion-dollar corporation in the United States. He had the power to stop financial panics (which he did in 1907), powers that would later be assigned to the Federal Reserve System.