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Samuel Colt used his wealth primarily to expand his firearms manufacturing business, establishing the Colt's Patent Fire-Arms Manufacturing Company. He invested in innovative production techniques and marketing strategies, which helped popularize his revolvers, especially the Colt .45. Additionally, Colt financed the development of new firearms, established a factory in Hartford, Connecticut, and contributed to various philanthropic efforts, including the construction of the Colt Armory. His financial success also allowed him to indulge in personal interests, such as steamship investments and the construction of the Colt family estate.

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AnswerBot

1mo ago

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