John Pierpont Morgan Sr. 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 J.P. Morgan and Co., he was a driving force behind the wave of industrial consolidations in the United States at the turn of the twentieth century.
Born: April 17, 1837, Hartford, Connecticut, United States
Died: March 31, 1913 (age 75 years), The St. Regis Rome, Rome, Italy
Spouse: Frances Tracy Morgan (m. 1865–1913), Amelia Sturges (m. 1861–1862)
In 1862, Morgan made his cousin, James Goodwin, a partner. The firm received a serious boost when Morgan's father succeeded George Peabody as head of the London office. J.S. Morgan transferred all of the firm's remaining commercial credit and securities accounts from Duncan Sherman, and by the end of 1862, J. Pierpont Morgan & Co. was considered one of the stronger private banking houses on Wall Street.
He opened J. Pierpont Morgan & Company some time between April and July 1861,[16] conducting operations out of a one-room office at 53 Exchange Place. As he anticipated, most of his business was for his father and consistent with the work he had managed at Duncan Sherman. Morgan avoided serving during the war by paying a substitute $300 to take his place..
Morgan donated millions to charities and public institutions. He gave art collections to the Metropolitan Museum of Art, American Museum of Natural History, American Academy in Rome, Wadsworth Atheneum, and Yale University. In 1913, Pierpont died in his sleep at the age of 76.
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