J.P. Morgan: History, Achievements and Facts

by World History Edu · September 2, 2021

More J.P. Morgan Facts

J. P. Morgan, photographed in 1902

J.P. Morgan was booked to embark on the maiden voyage of the Titanic in April 1912. The story would most likely had been different for Morgan had he not cancelled his booking on the disastrous April 1912 maiden voyage of the Titanic. A year prior to the disaster, Morgan was part of the christening ceremony of the Titanic.

Journalist and columnist Adrian Wooldridge described J.P. Morgan as the greatest banker in the history of United States.

Due to the rosacea that he had he often disliked it when people took pictures of him without his permission. The billionaire investor and businessman is said to have had a deformed nose which was caused by rhinophyma, a possible symptom of rosacea.

He had an unhealthy habit of smoking tens of Havana cigars daily.

He was part of the Episcopal Church.

Morgan’s house in New York was the first electrically lit house in the state.

J.P. Morgan financed a number of projects done by renowned inventors of the era, including Thomas Edison and Nikola Tesla.

He was the biggest benefactor of the Morgan Library and Museum. He often donated handsomely to a number of institutions and art houses, especially in New York City. Examples of institutions that received his donations include the British Museum, Harvard University, Trinity College in Connecticut, the Lying-in Hospital of the City of New York, and the American Museum of Natural History, and among others.

J.P. Morgan, a Connecticut-born businessman and financier, made an immense amount of wealth buying up businesses in the railroads, steel and banking industries.

He was a nephew to James L. Pierpont, the writer of the famous Christmas carol “Jingle Bells” (originally titled “The One Horse Open Sleigh”).

Death of J.P. Morgan

Flags on Wall Street flew at half-mast on the day of J.P. Morgan’s funeral. Image: John Pierpont Morgan memorial in Cedar Hill Cemetery

The highly influential and wealthy New York-based financier J.P. Morgan died on March 31, 1913, aged 75. He died in his sleep while in Rome, Italy.

In honor of his immense contribution to the financial markets of the U.S., the New York Stock Exchange closed for a couple of hours on the day of his funeral – April 14, 1913.

J.P. Morgan was laid to rest at his family’s mausoleum in Hartford cemetery, Connecticut. His son – J.P. Morgan Jr. – succeeded him, inheriting large amounts of wealth and stock holdings in many multinational corporations.