Financial Advice, part 5

what’s real people, I’m back! keepin’ that good content Disney channel, I does it for Jesus! well friends, its been a while, but I’m back and fired up, hope your year is going well, mine is!

so this week we will be talking about some more boring personal finance stuff that wont be entirely helpful until your 17, but it has it uses, but I’m making my way just fine! But the topic this week is much easier than my other lessons, this we are going to write 300 words on an entrepreneur I admire that we have not discussed yet in this class. Explain what entrepreneurial activity this person is/was involved in. What are some of the obstacles this person had to overcome as an entrepreneur?

so far this hasn’t been the most boring lesson, but hey, I’m just the teacher, I don’t write these things, he teaches me, I teach you, now, lets write 300 words, so I can go write even more boring stuff!!

He was an Entrepreneur, a self-made millionaire, and a saint. John Pierpont “J. P.” Morgan was an American financier and banker who dominated corporate finance and industrial consolidation in late 19th and early 20th Century United States.

Morgan was born into the influential Morgan family in Hartford, Connecticut, and was raised there. He was the son of Junius Spencer Morgan, and Juliet Pierpont. Pierpont, as he preferred to be known, had a varied education due in part to the plans of his father. In the fall of 1848, Pierpont transferred to the Hartford Public School and then to the Episcopal Academy in Cheshire, Connecticut, boarding with the principal. In September 1851, Morgan passed the entrance exam for The English High School of Boston, a school specializing in mathematics to prepare young men for careers in commerce. In the spring of 1852, an illness struck which was to become more common as his life progressed. Rheumatic fever left him in so much pain that he could not walk, and Junius sent him to the Azores to recover.

Morgan went into banking in 1857 at the London branch of merchant banking firm Peabody, Morgan & Co., a partnership between his father and George Peabody founded three years earlier. In 1858, he moved to New York City to join the banking house of Duncan, Sherman & Company, the American representatives of George Peabody and Company. During the American Civil War, in an incident known as the Hall Carbine Affair, Morgan financed the purchase of five thousand rifles from an army arsenal at $3.50 each, which were then resold to a field general for $22 each. Morgan had avoided serving during the war by paying a substitute $300 to take his place. From 1860 to 1864, as J. Pierpont Morgan & Company, he acted as agent in New York for his father’s firm, renamed “J.S. Morgan & Co.” upon Peabody’s retirement in 1864. From 1864–72, he was a member of the firm of Dabney, Morgan, and Company. In 1871, he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company. At that time, Anthony J. Drexel became Pierpont’s mentor at the request of Junius Morgan.

Before his death, he was a simple man. he was the owner of General electric, today known as GE systems, as well as taking on photography, and yachting. he is also known for being involved with one of the most dramatic events in history, the sinking of the *RMS TITANIC. he was the financier, and essentially the owner of The White Star Line. Morgan was fully aware of the switch between the two sister-ships, and you can see this with display that he canceled last minute so no “casualties” took place. he had a private sweet designed on the titanic, and I cannot be seen on the wreck, cause he didn’t build it on the Olympic, but I wont go into that, cause I already did a really long post on that, and if I start, I wont stop. hope y’all enjoyed this post, I put lots of effort into it, and its nice to  know its not a waist, comment down below and tell me what you thought, and I except requests, let me know what you want!


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