Hommes riches Flashcards
Peter Manigault
18th century, multiple activities, attorney and also political career as a legislator for American colonies. Principal activity :exploitation of his slave plantations. Ended up being the richest man bf the Independence of the US. Died 1773 at 42, 3 years before independence. He learned how to manage plantation through his family. That’s how he became rich.
Born in the colony of South Carolina, which became the colony with the highest percentage of slave in the population. Slavery mostly existed in the southern colonies, much more limited in the North, where it was abolished in 1827.
Origins of his family among French protestants.
He inherited his plantation. Studied law in Britain.
He was also a merchant and a banker. Then got involved in politics, and even if died before the War independence, there were already conflict with Britain in the 6os, and he participated in protests against Britain.
Charles Carol of Carollton
1737-1832
Founding Father. Jesuit education, first in America then in France where he graduated (Louis Le Grand). Voice of independence. Very opposed to slavery but didn’t free his own, had almost 3oo.
Catholics. Born in a rich family, then inherited vast agricultural estates. Wealthiest man in the colonies after the Independence.
Signed the Declaration of Independence. Reelected in Congress, declined it and choose to serve the Maryland (center east, close to Washington DC) Senate. .
Richest among the Founding Farther.
Called Maryland for reason linked to Catholicism (he was catholic): lot of ppl from religious minorities migrated in the US. One of the British colonies in north America was created by a catholic with an agreement with the King = Maryland (Queen Henrietta Maria, who was the wife of King Charles I of England) –> lot of the rich Catholics of Britain decided to go there.
He inherited slaves and lands.
He was against the seizure of loyalty properties. –> linked to slavery.
After the Independence, he had a political career as a senator.
The question of slavery
The nb of ppl in those days that were against slavery were not very numerous. Usually meant that they thought that slavery wasn’t the best way to organize slavery, and that they wanted a slow freeing. A lot of them thought that the freeing would mean that the slave would go back in Africa. They were project of colonizing parts of Africa, where the slave would go after being freed.
George Washington
Founding Father, born in 1732 and death in 1799, pivotal figure in American history, serving as the first President of the United States from 1789 to 1797.
Washington’s early career involved military service, notably as the commander of the Continental Army during the American Revolutionary War, where he led Patriot forces to victory against the British. He was instrumental in drafting and ratifying the US Constitution, serving as the president of the Constitutional Convention in 1787.
He married Martha Dandridge Custis, a wealthy widow, which significantly increased his wealth and social status.
During his presidency, Washington advocated for national unity and a strong central government, earning respect as a non-partisan leader. He faced challenges such as opposition to British rule, the issue of slavery, and interactions with indigenous tribes.
Despite being a slave owner himself, Washington expressed ideals of justice and humanity in dealing with Native American tribes and promoted treaties to negotiate land interests.
He was the richest predisent in history until the election of Donalt Trump. He freed his slave in his will BUT when slaves escaped from his plantation, he made sure that they would be brought back, and made it discreet to avoid ppl knowing.
Stephen Girard
French, 1750-1841. Captain, went to NY in 1774. New Orlean. Invest in American market. 1811, purchase more stock. He went into banking. Finances the US war effort. He was against Britain. Philanthropist. Trade with China and the West Indies = became richer.
British blockade = cannot circulate, and he is on the West side of the Atlantic, therefore cannot go away and that’s way he settled in New Orleans.
New war against Britain in 1812.
Considered one of the richest ppl in the world, probably the richest American before the Civil War. He ships on the sea. He lost an eye. Wasn’t born as a rich man. Made a lot of money in international trade (= not separated from the question of slavery).
Saint-Domingue, probably most valuable French colony at the time. He was involve in trade with this island (sugar and coffee). The moment he became extremely rich has to do with the moment where the rich planters left Saint-Domingue and went to America. Bc he knew them well, he helped them enter America and made money in the process, and started banking.
Was Atheist for his whole life.
Created a boarding school (for poor kids), but only for white boys.
John D. Rockefeller
1839 (-1937), talent for business. Modest family. Book-keeping, trade. Interest in oil business, esp during de Pennsylvania oil boom (186os). Cofounded a refinery (= factory that processes oil to transform it in different products) –> realized the profitability of the sector. More ctrl of the business by the formation of the Standard oil. Virtual monopoly. 1st anti-trust laws targeted him in 1890. Billionaire, one of the wealthiest American of all time.
Gave a lot to the educational system, Financial support to Universities like Yale, Columbia = philanthropy.
Favor of the abolitionist mvt (movement to end slavery and liberate enslaved people around the world).
Good example of the kind of ppl targeted by the expression rubber-barons.
Did not inherited a lot of money from his family. –> closer to a different kind of rich man, who becomes extremely rich during its lifetime, by its act = self-made man. A lot of things in those kind of stories are cliché, such as the idea of an early talent for business. This idea is supposed to go against the idea of a social destiny.
Monopoly = he destroyed the competition, bc he had a secret arrangement with the companies to sell at a very low price. His company was dismantled in 1911.
Esso = S.O, as in Standard Oil. After the anti-trust laws, his company had to separate in 45 companies.
Common point with a lot of the previous stories = when someone is very rich, there is an idea of investing, of diversifying, to have a part in finance … Also, he grew political connections.
Like a lot of other rich ppl of the period, he believed very strongly in ideas characterized as social Darwinism = political ideology, using a comparison btw Darwinism scfq writings, but it is misapplying that to society –> the ppl who are successful in human society shows that they are better than everybody else bc better adapted to society.
Henry Ford
1863 (-1947), immigration (Irish, English and Belgium origin), never went to high school. Repair work as a kid. He worked in a mechanic company. Founded the Ford Motor Company in 1903, automobile company. Produced the model T in 1908. Became rich bc he was the sole owner of the company.
Very little interest in school, but passion for mechanics = idea of child wonder.
Wanted to make affordable cars for the public.
Pioneer of welfare capitalism bc believe that the manager had to care of the wellbeing of their employees bc it meant more productivity. He believed that leisure time shouldn’t be reserved to rich ppl. Made higher wage. He was nevertheless against labor unions. Used intimidation, tactics against them (security department of Ford + police). Also opp to war: opp the US entry in WW1 and WW2 bc he thought that it limited productivity.
Ford did a nb of things which made working conditions in the beginning better for the workers BUT he did that for productivity.
Similar pattern than before, against story of the child wonder. Just like Rockefeller, he identified a key sector to succeed in. HE did innovate about the control of the worker and their benefit.
Joseph P. Kennedy
1888, Massachusetts, businessman, investor, philanthropy and politics. Shaped trajectory of American history. Attended Havard.In 192os, he transitioned in the film industries, where he made a fortune. One of the wealthiest ppl in the US during his time.
Became involved in public service: 1st chairman of the securities and Exchange Commission 1944-45 = Leading mb of the democratic party. He supported Roosevelt. He also served in Maritime Commission + US ambassador to the UK.
Introduced early to politics (father mb of Congress). He saved the Columbia trust bank from taking over.
The idea of becoming rich by being born in a rich family continued after 185os.
Ran a shipyard during WW1, where he met F. D. Roosevelt.
Illegal activities ? –> During his time in the film industry, he may have force ppl to do things for him by threatened them with false rape allegation. Also misconduct in finance.
He made a lot of money with alcohol immediately after the prohibition = started rumors. He became extremely rich during the Grand Depression.
He had political ambition for himself. Was in London during the beginning of WW2, and he tried to tell ppl that the Nazi were going to win and that they had to adapt. He was soon fired from his ambassador job. He was antisemitic.
Bill Gates
He is the son of a well-known lawyer from a business family. His mother was a high executive in the financial sector, also involved in philanthropy (very small percentage of the population). His mother was from a family of bankers, + close connection, through philanthropy, with the President of IBM, which was about to become in a pioneer company in the dvpt of computer. She aloud her son to become the creator of this system for IBM.
1955, cofounded Microsoft, with his childhood friend Paul Allen. Very good in programming. 1975: launch of Microsoft. Philanthropic mind connected with IT: fought against polio in Africa, used technologies via satellite to map Africa, to fight the disease easier. He looked for technological solutions to climate change.
Nuclear energies: prb of stocking the waste, and he was looking for solutions.
His wife also participated into the organization of Microsoft.
1st become known by creating MS/DOS, then he created Windows.
–> Anti-trust lawsuit in 1988: was found guilty in monopolization. He then was less involved in the company, and become more involved in philanthropy.
Warren Buffet
Born in 193o, father congressman, worked in Finance. Interested in finances as a young boy. Bought his first shares as a child. He was a paper boy, then he bought land, rented to farmers. He applied to Columbia, were he met his mentor. Created his financial business. Became the richest man alive in 2oo8. Strictly involved in finance. Also idea of child wonder, even if it is clearly linked to being born in a particular family. Every business he was involved in had to do with financial calculation. At the end, he created a company for investing: Berkshire Hathway. He invested in companies which sell products that everyone buy to created his fortune.
He has make public declaration about the fact that rich ppl don’t pay enough taxes.
