John Jacob Astor, German-American businessman (b. 1763)
John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-American businessman, merchant, real estate mogul, and investor who made his fortune mainly in a fur trade monopoly, by smuggling opium into China, and by investing in real estate in or around New York City. He was the first prominent member of the Astor family and the first multi-millionaire in the United States.
Born in Germany, Astor emigrated to England as a teenager and worked as a musical instrument manufacturer. He moved to the United States after the American Revolutionary War. Seeing the expansion of population to the west, he entered the fur trade and built a monopoly, managing a business empire that extended to the Great Lakes region and Canada, and later expanded into the American West and Pacific coast. Seeing a decline in demand due to changing European tastes, he got out of the fur trade in 1830, diversifying by investing in New York City real estate. Astor was highly wealthy and became a famed patron of the arts. In proportion to GDP, he was one of the richest people in modern history.
1848Mar, 29
John Jacob Astor
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Events on 1848
- 15May
1848 revolutions
Serfdom is abolished in the Habsburg Galicia, as a result of the 1848 revolutions. The rest of monarchy followed later in the year. - 18May
Frankfurt Parliament
Opening of the first German National Assembly (Nationalversammlung) in Frankfurt, Germany. - 19Jul
Seneca Falls Convention
Women's rights: A two-day Women's Rights Convention opens in Seneca Falls, New York. - 29Sep
Hungarian Revolution of 1848
Battle of Pákozd: Stalemate between Hungarian and Croatian forces at Pákozd; the first battle of the Hungarian Revolution of 1848. - 1Nov
Boston University
In Boston, Massachusetts, the first medical school for women, Boston Female Medical School (which later merged with the Boston University School of Medicine), opens.