J. P. Morgan's Impact On Business And Industry
Kaelie Serna
3rd Period
John Pierpont "J. P." Morgan (April 17, 1837 – March 31, 1913) was an American financier and banker who dominated corporate finance and industrial consolidation in late 19th and early 20th Century United States. Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), also known informally as "Commodore Vanderbilt", was an American business magnate and philanthropist who built his wealth in railroads and shipping. Both of these men (as captains of industry) have made an impact on American business and industry in vastly similar and different ways.
Ways that made them similar included competition and helping the U.S. On February 20, 1895, J.P. Morgan & Co. led a bond offering that helped rescue the United States from …show more content…
J.P. Morgan was born into a wealthy family and inherited it, while Vanderbilt went from rags to riches, which definitely makes him a captain of industry. Because of this, it makes sense of how they manage their money as they got older. J.P. Morgan was not driven by a tremendous desire for money but for setting finances right and doing things the right way. Although he did .P. Morgan buy and collect art that was equal in value to about two-thirds of his estate or 900 million dollars today. This makes sense because he was born into a wealthy family so he can be generous with his money because it’s always been there for him. Vanderbilt was more greedy with his money. He never spent his money on improving working conditions, even though they were extremely dangerous.The only thing he spent his money on was $50,000 to the Church of the Strangers and $1 million to Central University, which then became Vanderbilt University and improving the railroads for customers. Other than that, he kept all his money to himself. The reason for that is because he had to work to get to where he was and he didn’t want to lose it all so sometimes he had to play dirty with his money by making cuts and only giving his money to his sons instead of his daughters. He left the bulk of his fortune, estimated at more than $100 million, to his son William
3rd Period
John Pierpont "J. P." Morgan (April 17, 1837 – March 31, 1913) was an American financier and banker who dominated corporate finance and industrial consolidation in late 19th and early 20th Century United States. Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), also known informally as "Commodore Vanderbilt", was an American business magnate and philanthropist who built his wealth in railroads and shipping. Both of these men (as captains of industry) have made an impact on American business and industry in vastly similar and different ways.
Ways that made them similar included competition and helping the U.S. On February 20, 1895, J.P. Morgan & Co. led a bond offering that helped rescue the United States from …show more content…
J.P. Morgan was born into a wealthy family and inherited it, while Vanderbilt went from rags to riches, which definitely makes him a captain of industry. Because of this, it makes sense of how they manage their money as they got older. J.P. Morgan was not driven by a tremendous desire for money but for setting finances right and doing things the right way. Although he did .P. Morgan buy and collect art that was equal in value to about two-thirds of his estate or 900 million dollars today. This makes sense because he was born into a wealthy family so he can be generous with his money because it’s always been there for him. Vanderbilt was more greedy with his money. He never spent his money on improving working conditions, even though they were extremely dangerous.The only thing he spent his money on was $50,000 to the Church of the Strangers and $1 million to Central University, which then became Vanderbilt University and improving the railroads for customers. Other than that, he kept all his money to himself. The reason for that is because he had to work to get to where he was and he didn’t want to lose it all so sometimes he had to play dirty with his money by making cuts and only giving his money to his sons instead of his daughters. He left the bulk of his fortune, estimated at more than $100 million, to his son William