How did JP Morgan become wealthy?

Answer 1

J.P. Morgan became wealthy through strategic investments and banking practices that transformed the American financial landscape in the late 19th and early 20th centuries. He founded J.P. Morgan & Co., which played a pivotal role in consolidating industries, financing railroads, and orchestrating major mergers, such as the creation of U.S. Steel. His influence extended to stabilizing the economy during financial crises, making him a key figure in American finance. Additionally, his ability to navigate complex financial transactions and leverage relationships with influential industrialists contributed significantly to his wealth.