How did J.P. Morgan earn his wealth?

Answer 1

J.P. Morgan earned his wealth primarily through banking and finance. He founded J.P. Morgan & Co., which played a pivotal role in the consolidation of industries and the financing of major corporations during the late 19th and early 20th centuries. Morgan was instrumental in the creation of key entities such as U.S. Steel and General Electric, leveraging his financial acumen to facilitate mergers and investments. His strategic investments and influence in the banking sector allowed him to amass significant wealth and power.