J.P. Morgan was born 180 years ago today.
He was an American financier and banker who domination of corporate finance and industrial consolidation in the later 19th and early 20th Centuries was legendary.
He was of sorts, the first corporate raider.
He facilitated the merger of Edison’s and Thomson’s electric companies and formed GE. He guided several entities to the realization of US Steel, and helped Theodore Vail create the AT&T we all knew and loved, and now miss.
When he died in Rome at the age of 75, he left his businesses and his fortune to his son J.P. Jr.
The fortune was worth roughly $80 million at the time which prompted John D. Rockefeller to say, “…and to think, he wasn’t even a rich man.”
Morgan was a financial genius, said little in public, but did leave us with a gem I find very profound…
“Go as far as you can see; when you get there, you’ll be able to see farther.”
What will you see today?