Rich Uncle Pennybags: Financial Tycoon J.P. Morgan

J.P. Morgan

Everyone recognizes the name J.P. Morgan, and people tend to associate it with wealth. That’s because he was an American financier and banker who founded J.P. Morgan & Co., one of the country’s leading financial firms. He trained as an accountant at the New York banking firm, Duncan, Sherman Company.

The JP Morgan and Co bank on a street corner

Photo by Gircke / ullstein bild / Getty Images

He then got involved in his dad’s banking company, which led him to become a Drexel, Morgan, and Company partner. In 1895, the firm was updated and became J.P. Morgan & Company. This company eventually evolved into one of the most important banking houses in the world.

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