Sep 7, 1867
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@Philanthropists, Facts and Childhood
J. P. Morgan Jr. born at
In 1890, J. P. Morgan, Jr. got married to Jane Norton Grew and they had four children together, two daughters and two sons, namely Jane, Junius, Henry and Frances.
Henry Morgan, his son, along with Harold Stanley, co-founded the Morgan Stanley financial corporation.
Morgan Jr. died of stroke on March 13, 1943, at the age of 75, in Boca Grande, Florida, U.S.
J. P. Morgan, Jr. was born in Irvington, New York on September 7, 1867 to J. P. Morgan and Frances Louisa Tracy. His full name was John Pierpont Morgan Jr.
He graduated from the St. Paul’s School and Harvard in 1889 and joined his father’s firm J.P. Morgan & Company, in 1892.
After working in his father’s firm for some time, he moved to London and joined his grandfather's company, J.S. Morgan & Company.
In 1913, his father died and J. P. Morgan, Jr. inherited around $50 million and finally became the head of J. P. Morgan & Co.
During World War I, the company became the sole munitions purchaser for the French and British governments. This was one of the biggest turning points for the company.
Morgan’s company started getting orders and they totalled more than $3 billion. With every sale of the materials, the company earned a commission of 1 percent.
He organised around 2000 banks for underwriting a total of $1,500,000,000 in Allied Bonds for financing the Franco-British requisitions for the credits in United States.
Once the war ended, the company provided loans in excess of $10,000,000,000 for the European reconstruction work.
After the World War I, his trust Morgan Guaranty managed Germany's reparation payments. By 1920s, Morgan Guaranty was a leading lender to Germany and Europe and as a result it became one of the world's most important banking institutions of the time.