John Pierpont Morgan, Jr.

John Pierpont Morgan Jr. (September 7, 1867 – March 13, 1943) was an American banker, finance executive, and philanthropist. He inherited the family fortune and took over the business interests including J.P. Morgan & Co. after his father J. P. Morgan died in 1913. After graduating from St. Paul's School and Harvard College, Morgan trained as a finance executive working for his father and grandfather. He became a banking financier, a lending leader, and a director of several companies. He supported New York's Society for the Lying-In Hospital, the Red Cross, the Episcopal Church, and endowed the creation of a rare book and manuscript collection at the Morgan Library. Morgan brokered a deal that positioned his company as the sole munitions and supplies purchaser during World War I for the British and French governments, bringing his company a 1% commission on $3 billion ($30 million). He was also a banking broker for financing to foreign governments both during and after the war. Early life John Pierpont Morgan Jr, nicknamed Jack, was born on September 7, 1867, in Irvington, New York, to J. P. Morgan and Frances Louisa Tracy. He graduated from St. Paul's School, and later in 1886 from Harvard College, where he was a member of the Delphic Club, formerly known as the Delta Phi.