Can Colombia Still Qualify For The World Cup JP Morgan Entrepreneur Profile

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JP Morgan Entrepreneur Profile

John Pierpoint Morgan, described as a rational but cold-hearted man, was arguably the greatest banker in history. More than once, he revived a United States economy suffering from depression; and managed the US Steel organization: the world’s first billion-dollar corporation in 1901.

This legendary man was born in Hartford, Connecticut to Junius Spencer Morgan, also a famous tycoon, and Juliet Pierpoint. He studied to become an accountant abroad, mainly in Germany, and after his studies was able to find work at the banking house of Duncan, Sherman & Company in New York City. After 3 years in New York with the banking house, he became an agent of his father’s London firm.

After his father’s death, Morgan was the sole beneficiary of his father’s firm. He required a good amount of leadership, as many affairs were left unattended when his father died. Morgan proved to be a meticulous leader and reorganized his fathers firm, making it one of the most prominent banking firms in the country.

Morgan, curiously, used a full-time astrology. To become a millionaire you need luck, he said. To become a billionaire you need good astrology. Morgan, through his father’s company had strong financial ties to the London financial market and was able to provide capital for growing American companies with British funds. With that, many of these companies he sponsored gave him significant stakes in the company’s leadership, stock, and profits. By the early 1900s, Morgan controlled over 5,000 miles of railroad in the United States.

In his later years, journalists criticized how much influence JP Morgan had in the country as he focused on acquiring or merging with other companies. Away from the checks and bank balances, Morgan was an avid yachtsman, winning the America’s Cup on his ship: the Columbia. With that, he was an art collector – many of his possessions were donated or loaned by his family to the Metropolitan Museum of Art.

To assume that JP Morgan was a very successful entrepreneur.

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