Jp Morgan In The 1920's

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In the 1890’s to the 1920’s America had many large businesses and companies starting up. Many of these Businesses and companies were owned by large tycoons like John D. Rockefeller. A tycoon is, as described by dictionary.com, “a person of great wealth, influence, or power.”One of these large business tycoons was John Pierrepont Morgan, he is better known as J.P. Morgan. He was a financial, railroad, and a banking tycoon who sometimes merged with other companies. Such as the time that he merged with Andrew Carnegie and his steel company or the merger that formed Morgan Chase bank. He is well known for helping shape America's business. J.P. Morgan did a lot of good deeds for Americans. For example, he used his influence to stabilize the financial …show more content…
Morgan) had motivation for starting their own companies. For J.P. Morgan the main reasons were to keep in the family business, money, and control. In 1871, J.P.Morgan he started his own business. This business later became a part of his monopoly. His second motivation was money. J.P. Morgan used a lot of his money to help expand his company and in turn make even more profits than he was previously making. He was also well-known lover of art, so with the money he made he could purchase paintings. After a while he had his own large art collection. His third and maybe most important motivation was control. When J.P. Morgan bought some of his railroad companies, they were going through a rough time. When J.P Morgan bought their stock she began making a large monopoly out of these groups of railroads. Smaller companies couldn't compete with his large businesses and in turn lost their business. With this control he could continue to gain profit while other companies lost …show more content…
The two biggest ways he left a impact on the world is through: his large art and book collection and creating big businesses. John Pierrepont Morgan had amassed a large amount, in the thousands, of paintings, portraits and other works of art. He had spent two thirds of his money, around 900 million today, on paintings and other works of art. After he died, in hhis will a he left a large amount of these paintings to the Metropolitan Museum of Art. He also had a large number of books that he owned. For this he got a library named in his honor. John Pierrepont Morgan also owned a lot of businesses at the time of his death. Some of these businesses stayed large and successful. An example of this would be his banking company J.P. Morgan & Company which is still a very large banking company

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