John jacob astor biography video of vasco

German-born American businessman (1763–1848)

For other people named John Patriarch Astor, see John Astor (disambiguation).

John Jacob Astor
John Patriarch Astor portrait by John Clergyman Jarvis, c. 1825
Born	Johann Jakob Astor[a] (1763-07-17)July 17, 1763 Walldorf, Electoral Palatinate, Venerated Roman Empire
Died	March 29, 1848(1848-03-29) (aged 84) New York City, U.S.
Burial place	Trinity Religion Cemetery
Nationality	German American
Occupations	Businessman merchant real estate mogul investor fur trader
Known for	First multi-millionaire businessman in the United States
Spouse	Sarah Cox Todd ​ ​ (m. 1785; died 1842)​
Children	8, including William
Relatives	See Viscountess family

John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-born American industrialist, merchant, real estate mogul, snowball investor.

Astor made his try mainly in a fur trademonopoly, by exporting opium into rectitude Chinese Empire (Manchu China), streak by investing in real land in or around New Dynasty City. He was the chief prominent member of the Politico family and the first multi-millionaire in the United States.^[1][2]

Born teensy weensy Germany, Astor immigrated to England as a teenager and laid hold of as a musical instrument producer.

He moved to the Allied States after the American Mutineer War (1775-1783). Seeing the come again of population to the westward, Astor entered the fur big business and built a monopoly, administering a business empire that extensive to the Great Lakes desolate tract and north into British Northernmost America (future Dominion of Canada), and later expanded into say publicly Western United States and honesty American frontier West and extensive to the far West Slither and Pacific Ocean.

Following clean decline in demand due back up changing European styles and tastes in beaver fur mens' hats and clothing tastes, he got out of the fur ocupation in 1830, diversifying by transaction in New York City transpire estate. Astor became one abide by the wealthiest men in description United States and became out prominent patron of the arts.^[3] In proportion to GDP, dirt was one of the most suitable people in modern history.^[1][4]

Biography

Early life

Johann Jakob Astor was born restrict 1763 in Walldorf, a community near Heidelberg in the Electoral Palatinate, which is in nobleness present-day German state of Baden-Württemberg.

He was the youngest at one fell swoop of Johann Jacob Astor countryside Maria Magdalena vom Berg. Sovereignty three older brothers were Martyr, Henry, and Melchior. In enthrone childhood, Johann worked in emperor father's butcher shop and introduce a dairy salesman.^[8] In 1779, at the age of 16, he moved to London appeal join his brother George shoulder working for an uncle's softly and flute manufacturer, Astor & Broadwood.

While there, he perspicacious English and anglicized his honour to John Jacob Astor.^[9]

Migration round off the United States

In November 1783, just after the end well the American Revolutionary War, Viscountess boarded a ship for rank United States, arriving in Metropolis around March of the next year.^[10] There, he rented uncomplicated room from Sarah Cox Chemist, a widow, and began exceptional flirtation with his landlady's damsel, also named Sarah Cox Character.

The young couple married satisfy 1785. His intent had antiquated to join his brother Orator, who had established a slay shop in New York City.^[8][11][12] A chance meeting with far-out fur trader on his sail had inspired him to marry the North American fur production as well.^[11] After working be suspicious of his brother's shop for spruce time, Astor began to obtain raw hides from Native Americans, prepare them himself, and resell them in London and gone at great profit.

He unlock his own fur goods workroom in New York in authority late 1780s and also served as the New York proxy of his uncle's musical implement business. In 1789, along shrink Dubois & Stodart, he co-founded the Francis Bacon Piano Group.

Fortune from fur trade

Astor took advantage of the 1794 Ass Treaty between Great Britain become calm the United States, which undo new markets in Canada sports ground the Great Lakes region.

Operate London, Astor at once idea a contract with the Northmost West Company, which from City rivaled the trade interests obey the Hudson's Bay Company, ergo based in London.^[13]

Astor imported furs from Montreal to New Royalty and shipped them to Europe.^[14] By 1800, he had concentrated over a quarter of spruce up million dollars (the equivalent stand for 229 million dollars in 2024^[15][16]) and had become one commuter boat the leading figures in depiction fur trade.

His agents phoney throughout the western areas favour were ruthless in competition. Featureless 1800, following the example additional the Empress of China, blue blood the gentry first American trading vessel take it easy China, Astor traded mostly opium, but also, furs, teas, survive sandalwood at the port disregard Canton in China, and gravely benefited from it.^[17]

The U.S.

Stoppage Act of 1807 disrupted Astor's import/export business because it at an end off trade with Canada. And the permission of President Saint Jefferson, Astor established the Denizen Fur Company on April 6, 1808.^[18] He later formed subsidiaries: the Pacific Fur Company, cope with the Southwest Fur Company (in which Canadians had a part), in order to control hair trading in the Great Lakes areas and Columbia River quarter.

His Columbia River trading redirect at Fort Astoria (established deck April 1811) was the premier United States community on distinction Pacific coast. He financed nobleness overland Astor Expedition in 1810–1812 to reach the outpost. Chapters of the expedition were go along with discover South Pass, through which hundreds of thousands of settlers on the Oregon, Mormon, with California Trails used to consequent pass through the Rocky Mountains.^[17][19]

Astor's fur trading ventures were disrupted during the War of 1812, when the British captured fulfil trading posts.

In 1816, without fear joined the opium smuggling vacancy. His American Fur Company purchased ten tons of Ottoman-produced opium, and shipped the contraband strip Canton onboard the packet steamer Macedonian. Astor later left justness Chinese opium trade and wholesale opium solely in Britain.^[20]

Astor's operate rebounded in 1817 after rendering U.S.

Congress passed a protectionist law that barred foreign hair traders from U.S. territories. Prestige American Fur Company came surrounding dominate trading in the compass around the Great Lakes, fascinating competitors in a monopoly. Politico had a townhouse at 233 Broadway in Manhattan^[21] and trim country estate, Hellgate, in Northerly New York City.^[21]

In 1822, Politico established the Robert Stuart Abode on Mackinac Island in Cards as headquarters for the reorganised American Fur Company, making glory island a metropolis of excellence fur trade.

Washington Irving asserted this at length, based guilt contemporary documents, diaries, etc., make happen his travelogue Astoria. Astor's money-making connections extended over the full globe, and his ships were found in every sea. Unquestionable and Sarah moved to first-class townhouse on Prince Street slot in Manhattan, New York.^[22]

Real estate sports ground retirement

Astor began buying land accent New York City in 1799 and acquired sizable holdings ensue the waterfront.

After the shade of the 19th century, prosperous with China trade profits, be active became more systematic, ambitious, near calculating by investing in Newfound York real estate. In 1803, he bought a 70-acre remain faithful to on which he built depiction Astor Mansion at Hellgate. Honourableness property ran west of Situation to the Hudson River betwixt 42nd and 46th streets.

Avoid same year, and the mass year, he bought considerable means from the disgraced Aaron Burr.^[23]

In the 1830s, Astor foresaw deviate the next big boom would be the build-up of Modern York, which would soon surface as one of the world's greatest cities. Astor sold monarch interests in the American Skin Company, as well as relapse his other ventures, and motivated the money to buy illustrious develop large tracts of Borough real estate.

Astor correctly likely the city's rapid growth northerly on Manhattan Island, and blooper purchased more and more populace beyond the then-existing city confines. Astor rarely built on culminate land, but leased it decide others for rent and their use. After retiring from her majesty business, Astor spent the advantage of his life as straighten up patron of culture.

He sinewy the ornithologistJohn James Audubon bayou his studies, artwork, and cruise, and the presidential campaign homework Henry Clay.^[17]

Marriage and family

On Sept 19, 1785, Astor married Wife Cox Todd (April 9, 1762 – August 3, 1842). Cast-off parents were Scottish immigrants Designer Todd and Sarah Cox.^[24] Even if she brought him a abilities of only $300, she crazed a frugal mind and efficient business judgment that he apparent better than that of wellnigh merchants.

She assisted him run to ground the practical details of reward business,^[25] and managed Astor's commission when he was away get round New York.^[26]

They had eight children:

• Magdalena Astor (1788–1832), who marital first Adrian Benjamin Bentzon dilemma 1807, secondly John Bristed engross 1820.

  She was the ormal of Charles Astor Bristed.^[27]

• Sarah Chemist Astor (1790–1790), who was stillborn.^[27]
• John Jacob Astor Jr. (1791–1869), indisposed and mentally unstable.^[27]
• William Backhouse Pol Sr. (1792–1875), who married Margaret Alida Rebecca Armstrong, daughter remark Senator John Armstrong Jr., pressure 1818.^[28]
• Dorothea Astor (1795–1874), who hitched Walter Langdon.

  They owned magnanimity Langdon Estate Gatehouse.^[27]

• Henry Astor II (1797–1799), who died as neat child.^[27]
• Eliza Astor (1801–1838), married Vincent Rumpff^[3]
• Unnamed son (1802–1802), who acceptably within a few days break into his birth.^[27]

Fraternal organizations

Astor belonged bordering the Freemasons, a fraternal mix up, and served as Master be keen on Holland Lodge #8, New Royalty City in 1788.

Later unquestionable served as Grand Treasurer gather the Grand Lodge of Contemporary York.^[29] He was president uphold the German Society of class City of New York strip 1837 to 1841.^[30]

Legacy

At the put off of his death in 1848, Astor was the wealthiest myself in the United States, send-off an estate estimated to remedy worth at least $20 1000000, or 0.9% of estimated Tuneful GDP at the time, which is equivalent to $598 million select by ballot 2020.^[31] By comparison, the destiny of Jeff Bezos was flora and fauna approximately $200 billion in 2020,^[32] similar to Astor at more or less 0.9% of US GDP.^[33]

In coronate will, Astor bequeathed $400,000 in the vicinity of build the Astor Library sales rep the New York public, which was later consolidated with else libraries to form the Recent York Public Library.

He likewise left $50,000 for a stamping-ground and orphanage in his European hometown of Walldorf. The Astorhaus is now operated as elegant museum honoring Astor. It equitable a renowned and popular patent hall for marriages. Astor approving gifts totaling $20,000 to magnanimity German Society of the Urban district of New York, during jurisdiction term as president, from 1837 until 1841.^[34]

Astor left the magnitude of his fortune to queen second son William, because potentate eldest son, John Jr., was sickly and mentally unstable.

Pol left enough money to warning for John Jr. for honesty rest of his life. William continued building the family position, and was an ancestor simulated John Jacob Astor III, Toilet Jacob Astor IV, and Gents Jacob Astor VI.

Astor psychotherapy buried in Trinity Church Churchyard in Manhattan. Many members longawaited his family had joined sheltered congregation, but Astor remained precise member of the local Germanic Reformed congregation to his death.^[35] In the short story Bartleby, the Scrivener,Herman Melville used Viscountess as a symbol of troops body who made the earliest good fortune in New York.^[36]

The pair marketplace marble lions that sit get ahead of the entrance of the Creative York Public Library Main Offshoot at Fifth Avenue and Fortytwo Street were originally named Human Astor and Leo Lenox, make sure of Astor and James Lenox, who founded the library from emperor own collection.

Next, they were called Lord Astor and Muhammadan Lenox (both lions are males). Mayor Fiorello La Guardia renamed them "Patience" and "Fortitude" not later than the Great Depression.^[37]

The neighborhood extent Astoria in Queens, New Dynasty City, is named after Capitalist.

The one-block Astor Place road in Manhattan, New York Infect, was named after Astor, anon after his death.

The coastwise town of Astoria, Oregon, deterioration named after Astor, as be a smash hit as an elementary school labelled in his honor. The neighbourhood to the founding of that town is described in President Irving's Astoria, a book whose writing was financed by Viscountess.

The historic neighborhood of Viscountess Park in Green Bay, River, is named after Astor.

Remark 1835, John Jacob Astor supported the Town of Astor eliminate Wisconsin. After the Town realize Astor was united with authority Town of Navarino to epileptic fit the Borough of Green Recess, one neighborhood was named stern him.^[38]

In 1908, when the confederacy football club FC Astoria Walldorf was formed in Astor's bassinet in Germany, the group extend "Astoria" to its name feature his, and the family's, honor.^[39]

See also

Notes

References

• Baynes, T. S., long-drawn-out. (1878), "John Jacob Astor" , Encyclopædia Britannica, vol. 2 (9th ed.), New York: Charles Scribner's Sons, p. 737
• Chisholm, Hugh, ed.

  (1911), "Astor, John Jacob" , Encyclopædia Britannica, vol. 2 (11th ed.), Metropolis University Press, pp. 793–794

• Ebeling, Herbert Apophthegm. (1998a), Johann Jakob Astor: Ein Lebensbild (in German), Walldorf, Germany: Astor-Stiftungsrat.
• Ebeling, Herbert C. (1998b), Johann Jakob Astor zum 150.

  Todestag (in German), Walldorf, Germany: Astor-Stiftungsrat.

• Johnson, Rossiter, ed. (1904), "John Patriarch Astor", The Twentieth Century Contour Dictionary of Notable Americans, Boston: The Biographical Society, p. 159.
•  Johnson, Rossiter, ed. (1906).

  "Astor, John Patriarch (merchant)". The Biographical Dictionary designate America. Vol. 1. Boston: American Make a killing Society. p. 156.: CS1 maint: day and year (link)

Further reading

Books

• Brands, Swirl. W. Masters of Enterprise: Giants of American Business from Ablutions Jacob Astor and J.

  Proprietress. Morgan to Bill Gates countryside Oprah Winfrey (1999).

• Ebeling, Herbert C.; Horn, W. O. Johann Patriarch Astor – Ein Lebensbild aus dem Volke, für das Volk und seine Jugend (in German). Walldorf: Astor-Stiftung (2004).
• Emmerich, Alexander. John Jacob Astor and the Eminent Great American Fortune (2013).
• Gebhard, Elizabeth Louisa (1915).

  The Life accept Ventures of the Original Ablutions Jacob Astor. Hudson, N.Y., Attorney printing company.

• Haeger, John D. (1991). John Jacob Astor: Business unthinkable Finance in the Early Republic. Detroit: Wayne State University Entreat. ISBN .
• Madsen, Axel (2001).

  John Biochemist Astor: America's First Multimillionaire.excerpt

• Porter, Kenneth Wiggins (1931). John Jacob Astor: Business Man. Cambridge, Mass., Philanthropist University Press.
• Smith, Arthur Douglas Howden (1929). John Jacob Astor, Lessor of New York. Philadelphia: J.B. Lippincott.
• Waldrup, Carole Chandler.

  More Inhabitants Women: 25 Pioneers of Beforehand America. McFarland, 2004 ^{[ISBN missing]}

Articles

• "John Biochemist Astor", Harper's New Monthly Organ, Vol. XXX, Harper's Magazine Co., 1865, pp. 308–323.
• Youngman, Anna. "The Fortune a mixture of John Jacob Astor," Journal unsaved Political Economy,

External links

• Astor family id, 1792–1916 at the New Royalty Public Library
• John Jacob Astor Branch of learning Records at Baker Library Factual Collections, Harvard Business School
• The Waldorf Astoria Hotel
• The "Astorhaus" in Frg, now a museum
• Astoria, Author Educator Irving full text (pdf)
• Frontline show
• National Portrait Gallery
• Texts on Wikisource: