The reason JP Morgan got famous was because he was one of the leaders in the Industrial Revolution, and he made a lot of money. He was a very successful banker. He had gained control of most of the major railroads, and then owned steel companies.He then merged both of them into one corporation. That is how he got famous and made most of his money. I chose JP Morgan because I am very interested in big business.
The industrial revolution took place in the late 1800's and early 1900's. The major Industry leaders were Andrew Carnegie who was the king of steel, John D. Rockefeller who monopolized the oil industry, Cornelius Vanderbilt who was the most powerful railroad tycoon, and he built the Transcontinental Railroad and JP Morgan.All of these men were very rich. Cornelius Vanderbilt was a railroad tycoon and one of the richest men to ever live. Cornelius Vanderbilt was the son of a poor farmer.
First he earned his fortune in steamship lines. Then he turned his attention to railroads. Vanderbilt was obviously very aggressive when it came to his business. In the 1860's he wanted to buy the New York Central Railroad, but the owners wouldn't sell. Because of this Vanderbilt announced that the passengers of the New York Central Railroad could not transfer to his trains. Without their passengers the New York Central Railroad had to give in.
After that Vanderbilt had most of his lines between Chicago and Buffalo.By the time he died in 1877 he controlled 4500 miles of railroad connecting NYC and the Great Lakes Region. Many Americans made a lot of money in the steel industry, but none became richer or more powerful than Andrew Carnegie. As a young boy he went to work in a textile mill. Later when telegraph wires were strung from city to city he became a telephone operator.
Once the railroad boom started he was a secretary to an official of the Pennsylvania Railroad….