Jp Morgan Success Statement

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ation for the Success of JPMorgan Company If we talk about finance, money and the economy in America, we must mention JPMorgan Chase bank. It is one of the biggest banks on America with more than 240,000 employees, 5,300 branches and 15,500 ATMs all around USA. This company is notorious for changing the business world then, and still has a footprint on the world does business today. The steps taken to build the success in this company were different, innovative, and nothing any ordinary business would do. The groundwork for JPMorgan Chase Bank’s continuing success was laid by its founder J.P. Morgan, who used his wealth to manipulate the entire American Economy. How did he set the stage of success for his bank? And how did he control the American…show more content…
He was born on April 17, 1837, in Hartford Connecticut. After graduating from high school in Boston in 1854, he traveled to Europe where he learned French and German. In 1857 he returned to New York and started his finance career (JP Morgan history). He started his dream working in his father private bank in New York. John Pierpont Morgan began his career as the New York agent of his father Junius' London-based private bank (Wile, 2012). He kept working wisely until this company became one of the most powerful banks in America. Then, in 1871 he joined Philadelphia banker Anthony Drexel and together they founded Drexel, Morgan and Company in New York. They worked as an agent for the Europeans investments in America. They became the connection for any European businessmen who wanted to invest their money on the vastly growing American industry. By 1879, they attained enough wealth and were able to make a huge step that launched much of their business. At this time, they sold the Central Railroad stock without driving down the share price (Wile, 2012). The timing of this event and the money made from this business deal are two reasons J.P. Morgan developed much of his power in business. This made him a captain of industry and allowed him to invest more in railroads, steel, and eventually the…show more content…
After all of those successful investments JP Morgan became so powerful that the government relied on his financial security for help. At this time, J.P. Morgan had much of the country’s wealth and the government had not yet established the Federal Reserve. JPMorgan helped the U.S. Economy from the financial crisis in 1907 by hosting a meeting with the top businessmen, the richest people in America who were called robber barons in his house in New York. He succeeded to convince them to help the companies which were going to fall down to bring balance to the market and the economy. J.P. Morgan’s established wealth rescued the economy. In return, J.P. Morgan made a profit from lending the government money, taking gold and silver as payment. Also in 1904 J.P Morgan & Co helped the government by providing them with $40 million to buy the rights of the land where the Panama Canal lays. From that, he continued business and investment with that deal. From these few of many business deals, it’s clear what J.P. Morgan did to set the stage for continuous success for JPMorgan Company. Now, let's go deeper into this founder’s greatest successes that give more detail about J.P. Morgan’s control of the entire American
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