John Pierpont Morgan was one the most powerful financiers of the later nineteenth and early twentieth In an era known for socially irresponsible “robber barons”, he amassed a tremendous fortune as a banker, a builder of railroads, and reorganizer of the steel, electric and telephone industries. Interestingly, he was a major source of support to Thomas Edison and Nicola Tesla. For many years he and a small but immensely wealthy oligarchy ruled over America’s major corporations, railroads, insurance companies, securities markets, and banks. He had a passion for organizing and reorganizing industrial trusts creating giant conglomerates such as U.S. Steel, General Electric and International Harvester.
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