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Message: <blockquote data-quote="lukeraj" data-source="post: 3146824" data-attributes="member: 66934">Lesson to learned J.P. Morgan: The Finance King Is BornForbes.com editors ranked him as the second most influential businessman of all time as well as the most important banker who ever lived. An American financier and banker, J.P. Morgan became one of the wealthiest men in the world, who created a reputation for himself after having rescued the U.S. government from financial nightmare, and after having created the world's first billion-dollar company among other feats. The empire and the company he created live on to this day as the third-largest financial services firm in the U.S.Born on April 17, 1837, in Hartford, Connecticut, John Pierpont Morgan had business already running through his blood. His father, Junius Spencer Morgan had been the owner of a mercantile house in Boston prior to founding his own successful investment firm, J.S. Morgan & Co. in London, England. He was highly respected by his peers for helping failing companies and giving loans when they were badly needed, including a loan to the French after the Franco-Prussian War. Junius would also later go on to finance many of his son's ventures. Meanwhile, Morgan's mother, Sarah Pierpont, came from a reputable and wealthy family in Boston, whose father was also well versed with the business world. Although he was a well-known preacher, Sarah's father would take advantage of any opportunity to distribute his own two business cents to anyone who would hear it. Morgan was forced to overcome a rare disorder as a young boy that often caused fainting spells and fatigue, but he dedicated himself from an early age to academic excellence and attended only the very best schools, including the English High School of Boston. After graduating from high school, Morgan moved to Germany to study at its most prestigious institution, the University of Gottigen. It was here where he would meet his future wife, Amelia Sturges. Despite being in the later stages of tuberculosis, Morgan married her, hoping that a Mediterranean honeymoon would help cure her. Unfortunately, Amelia died of tuberculosis just four months later. Heavily traumatized by this incident, Morgan would forever after visit Amelia's grave on their anniversary each year. This also led him to immerse himself completely in work as a distraction. He later remarried Frances Tracy, with whom he would have four children, all of whom would go on to follow in their father's footsteps. In 1857, after a brief study tour in the Caribbean, Morgan took up employment at Duncan, Sherman and Co., a banking firm based in New York City. Here, he worked without pay in order to better learn the ins and outs of investment banking. After three years, Morgan moved to George Peabody and Co. to work as an American agent. His father was a partner with Peabody and so Morgan strove doubly hard to establish himself. Under his father's wing, Morgan excelled. He left Peabody to work for Dabney, Morgan & Co. and later, Drexel, Morgan & Co in 1871. He had found his niche and knew that he was meant for a life in investment banking. It would not be long before Morgan would break out from under his father's shadow and carve out a reputation for himself. J.P. Morgan's Success Factors When J.P. Morgan was at the peak of his career, the Wall Street Journal had this to say of his success: "God made the world in 4004 B.C. and it was reorganized in 1901 by J.P. Morgan."Never again would any single individual have as much influence over America and its money as did J.P. Morgan. As one of the wealthiest men in the world at the turn of the century, it wasn't the millions he had amassed that formed the basis of his power, but rather the billions he had control over. Born into aristocracy, Morgan was nonetheless able to build significantly on the success of his father. How did he do it?He Was Practical. There can be no doubt that Morgan was a dreamer, occupying his time thinking of grand schemes and larger-than-life business deals. But, he never lost himself in the clouds. He knew that in order to achieve success on the scale that he dreamed of, he needed to take practical and concrete steps in that direction. Thus, through education and taking on junior positions at investment firms and banking houses, Morgan took the time he needed to gain the experience that would enable him to realize his dreams. He Developed Character: Above anything else, Morgan prided himself on his reputation as a man of trust and character. People who engaged in business with him knew what they could expect from him and he expected the same from others. It was only by creating a solid and trustworthy reputation that Morgan was able to become the successful financier that he was. He Took Control: It seems as if when Duncan, Sherman and Co. first hired Morgan, they forgot to tell him that he was just a junior accountant. Or if they did, he didn't listen. It didn't matter whether Morgan was president of his own company or on the bottom rung of another organization, he was a born leader who took charge of the situation. He wasn't afraid of taking risks and achieved success by going after opportunities when they presented themselves.He Followed His Passion: Morgan was born with business in his blood and it was only a matter of time before he realized it and unleashed his potential. He was hands-on in his career not because he had to be, but because he wanted to be. There was no aspect of business that did not excite Morgan and it was this passion that kept him coming back for more under any circumstance. He Understood His Surroundings: From his competitors to his partners to the industry itself, Morgan did the research. He knew that in order to be the best, he had to know whom exactly he was dealing with. By informing himself and being aware of both the limits and the possibilities, Morgan was able to make the kind of smart business decisions that would take him to the top. "Anyone can be a millionaire, but to become a billionaire you need an astrologer," Morgan once said. Whether the stars were on his side or not, Morgan devoted his life to his business, becoming one of the most important and influential entrepreneurs of modern history. Cheers.</blockquote>

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