George Peabody

Picture of George Peabody

Date of Birth: 02/18/1795

Age: 74

Place of birth: South Danvers


George Peabody (George Peabody) was born in 1795 in the town of South Danvers, Massachusetts (South Danvers, Massachusetts). Later, this town, located near Boston (Boston), was named after him - Peabody. His family was very poor, George was one of eight children, and in 11 years he had to quit school and start working. Not having worked for a year, he went to war, eager to somehow change lives. So, it was in the war, he met with a businessman Elisha Riggs (Elisha Riggs), with whom they soon become close friends. Elisha and asked George to become a junior partner. The proposal that was very valuable to Peabody, who was really in trouble - he had no connections, no money, no clearance ahead. So, in 1814 he moved to Baltimore (Baltimore), where he spent the next two decades. Their small business on imports of clothing from Europe developed very successfully and soon Peabody and Riggs moved to New York City (New York). So, soon, George was able to provide not only themselves, but also greatly help his family - he has given the formation of the younger children, and bought the family house. By the way, George always thought that it was iz-za lack of education he could not successfully start in life, and that this iz-za fad `` he later donated to many educational projects and programs.

Business, meanwhile, all expanded, and by the end of 1820 Peabody was already very, very wealthy man.

In 1827, he first visited the United Kingdom, and by the time George had already come to the decision that it is time to engage in no trade and financial transactions.

So, since the middle of 1830 the businessman began to work with bonds, preferring securities of high quality - he invested in railways. It was then that he began to work with the British by selling them bonds. By the way, the US financial crisis, which broke out in 1837-m, almost ruined his business, but commercial talent Peabody still won. So it was then, suffering losses, but not wanting to lose the reputation he has as a result of complex transactions declined to $ 100 thousand of commissions, giving them the benefit of distressed Maryland (Maryland). It is known that since the period of Peabody stayed to live and work in London (London).

In 1838 he founded the banking house `Peabody & Co.`, Oriented to work with the United States, and at that time it was very useful for the respect and confidence of Americans.

By the mid-1840s things were adjusted Peabody finally - by his own admission, the profit brought everything to what he had just touched. He became a very respected international banker.

Not forgetting the homeland, George helped her than he could. He financed projects, which proved too much for the US government, and with time his authority was just incredibly high. So, George Peabody trusted, they respected him, it is very appreciated.

For 57 years in a state Peabody was estimated at $ 3 million. It is noteworthy that a bachelor Peabody had no heirs, and when it came time to think about a successor, he opted for the investor Junius Spencer Morgan (Junius Spencer Morgan). However Junius Peabody spent a few major projects, together they have gone through the crisis in 1857.

On retirement, George resigned in 1857, and transferred the case to Morgan, he devoted himself entirely to charity. Thus, it is considered the first philanthropist Peabody, laid the foundations of this work, which eventually grew to the tradition among the world`s richest people.

So, for the money of George Peabody Library 7 in Danvers, as well as several American museums it was founded. He founded more than a dozen institutions of higher learning in the country, besides, he has sponsored a large number of research universities in the US, as well as created several funds to help science. It is known that George did not stint for England - he built houses for poor Londoners, and, according to some reports, he gave shelter about 12 thousand British..

In general, the charity George Peabody spent about $ 10 million.

As a sign of gratitude and recognition, many educational institutions are named after the founder of today. And the residents of his hometown renamed it in 1868, assigning the name of the town Peabody.

George Peabody died November 4, 1869 in London, at the age of 74 years. The funeral ceremony was held in Westminster Abbey (Westminster Abbey), and his body was transported to his homeland at the biggest ship of the English navy, the battleship `HMS Monarch`.