JP Morgan become the king of the financial world
We often think that big banks, institutions, and wealthy people are the most powerful. But there was a person in history who had so much power and wealth that even today’s big industrialists like Elon Musk, Bill Gates, etc. did not have. The name of this person was John Pierpoint Morgan (J.P. Morgan), who controlled not only the banking industry but the entire industry.
JP Morgan was born in 1837. He was very ill in his childhood and also had the problem of migraine. His family members were worried about his health. JP Morgan was born in a privileged family. Both his grandfather and father were big businessmen and bankers. His family was very affluent, and his childhood was spent in luxurious bungalows.
However, JP Morgan’s life was also full of struggles. His father was very dominating and always kept challenging JP Morgan. He had a great appetite for studies and knowledge, and was always asking questions of his teachers.
In his free time he used to play card games like solitaire. When the American Civil War broke out in 1863, all businessmen were asked to join the army. But JPMorgan did not participate in the war. Instead he thought of taking advantage of this situation. He bought cheap rifles and increased their range and accuracy and sold them to the government at higher prices, thereby earning huge profits.
Thus, JPMorgan showed his acumen and acumen in business early in his life. He gave many examples of how he was an extraordinary person, showing signs of doing great things from a young age. His story shows how one person can make an impact on a large scale by using his intelligence and resources.
Father was not happy with this. Look J.P. Morgan’s mindset was that there was nothing wrong in speculation to earn more money in less time. But his father always said that one should make money slowly. His thinking was traditional, and he believed that success would come only by moving slowly. Morgan did not get along very well with his father, there was love but there were differences too. Later, Morgan shook hands with his partner, whose name was Axel, and then he met J.P. Morgan, which we know today as J.P. Known as Morgan Chase.
There must be a love story in every story. A beautiful girl also came into Morgan’s life. If you also want a lovely girl to come into your life then like this video. Liking a video can bring love into your life. If you already have someone in your life, like for him and comment if you want a boy.
Morgan fell in love with the girl, but unfortunately she was not in good health. They get married, but the girl’s health deteriorates. At that time, the medical condition was such that treatment was difficult. Morgan used the best doctors and medicines in the world and went on extended honeymoons to warmer climates. But his health deteriorated further and his wife died after only four months of marriage.
Morgan started his life by giving 100 percent profit to the military and established himself. But now he was heartbroken. After his wife left, he locked himself in his room for two years and immersed himself in work. He studied balance sheets, accounting and other business matters, which enabled him to advance in the banking and business world.
But in 1864, a girl named France came into his life. This time they did not take much time and got married soon. Now he had become more practical. This story is a message to the youth that if their heart gets broken then do not be disappointed. Respect your parents and family. Morgan also resolved to overcome the difficulties and move forward in life again.
After his second marriage, the family shifted to London. There was a lot of prosperity in London and they were seeing possibilities of expanding business there. Morgan adopted the method of taking short breaks from work, so that he could avoid fatigue. He used to work for nine months a year and go on vacation for three months. Even the greatest of people take breaks and it is important.
Now the story moves forward. Morgan had a master plan in his mind that made him the most successful businessman in the world. He thought that the more small companies he consolidated, the more powerful he would become. He looked at the rail road companies, which were facing a lot of problems at that time. Many companies had taken too much loan and over-expansion. Morgan thought that by taking all these small companies together, a big company should be formed, so that all those problems could be solved.
He said another important thing that if he can take the companies along, then it is fine, but the old leaders are of no use. If the old leaders were useful then the companies would not be in this condition. Morgan understood that now he also wanted to join the company’s board of directors. In today’s time, why do big businessmen not just take one-two percent shares, but demand fifteen-twenty percent shares and a seat on the board? Because they know that if the old leaders do not work properly.
