Profession: Industrialist and Banker
Why Famous: One of the most significant and influential figures in American business history, Morgan dominated the corporate finance industry in the late 19th and early 20th century United States. He also had a hand in a number of significant industrial mergers during this period.
Morgan spearheaded the creation of General Electric, the United States Steel Corporation, International Harvester and AT&T.
Often described as America's greatest banker, Morgan transformed American business with his emphasis on efficiency and modernization.
Morgan was a major player during the 1907 Banker's Panic / Knickerbocker Crisis helping to shore up the banking system and famously locking bankers in his library one night to get an agreement.
- 1892-04-15 General Electric Company formed by merger of Thomas Edison's General Electric Company with Thomson-Houston Electric Company, arranged by J. P. Morgan and incorporated in NY
- 1901-02-25 US Steel Corporation organized under J. P. Morgan, Sr.
- 1907-10-01 A downturn in the stock market leads to a run on the dollar; US President Theodore Roosevelt will be forced to call on financier J. P. Morgan to help manage the financial crisis
- 1907-11-02 US banker J. P. Morgan locks over 40 bankers in his library to force them to find ways to avert New York banking crisis