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How much money did John Jacob Astor?

Updated: 2/1/2022
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12y ago

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He Had about $650 million dollars or about $37 Billion in Todays dollars.

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2y ago
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Q: How much money did John Jacob Astor?
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John Jacob Astor inherited much wealth but was also a patented inventor, a sci-fi author, and most importantly, a successful hotelier.


How much money did John Jacob Astor have?

He Had about $650 million dollars or about $37 Billion in Todays dollars.


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How did john Jacob astor influence Americans?

An American fur trader and businessman, John Astor used his profits from fur trading to invest in a wide range of business enterprises. By the time of his death he was the richest man in America.Childhood povertyJohn Jacob Astor was born in Waldorf, near Heidelberg, Germany, on July 17, 1763. He was named after his father Jacob Astor, a poor but happy butcher. His mother, Maria Magdalena Vorfelder, learned to be very careful with the little money the family had (a quality she passed on to her son). She died when Astor was three years old. Despite the family's poverty, Astor received a good education from the local schoolmaster. When he reached the age of fourteen he went to work as an assistant to his father. He did this for two years before striking out on his own in 1779. Astor joined one of his brothers in London, England, where he learned to speak English and worked to earn money to pay his way to America. In 1783, after the peace treaty ending the American Revolution (1775-83; when the American colonies fought for independence from Great Britain) had been signed, Astor sailed for the United States to join another brother who had gone there earlier. The ship carrying Astor to America became stuck in ice before completing its voyage and remained there for two months. During this time, Astor met a German man on the ship who told him how much money there was to be made in fur trading. Astor finally landed at Baltimore, Maryland, in March 1784.Success in fur tradingAstor soon joined his brother in New York and began to demonstrate his talent for business. He worked for several furriers and began buying furs on his own. In 1784 and 1785 Astor made trips to western New York to buy furs for his employers, purchasing some for himself at the same time. He acquired enough furs to make a trip to England profitable. In London he established connections with a well-known trading house, signed an agreement to act as the New York agent for a musical instrument firm, and used his profits from the furs to buy merchandise to use for trade with the Native Americans. Not yet twenty-two, he had already proved himself a shrewd and intelligent businessman. Astor's early success convinced him that a fortune could be made in the fur trade. He began to spend more time managing and expanding his business. Between 1790 and 1808 his agents collected furs from as far west as Mackinaw, Michigan. The Jay Treaty of 1794, which led to the British leaving forts and trading posts in the Old Northwest, worked to Astor's advantage, and he expanded his operations in the Great Lakes region. Through an arrangement with the British Northwest Company, he purchased furs directly from Montreal, Canada. By about 1809 he was recognized as one of the leading fur traders in the United States.


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