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John Pierpont Morgan is an American financier and banker who dominated corporate finance on Wall Street throughout the Gilded Age. As the head of the banking firm that ultimately became known as J.P. Morgan and Co., he was a driving force behind the wave of industrial consolidation in the United States spanning the late 19th and early 20th century.

Over the course of his career on Wall Street, J.P. Morgan spearheaded the formation of several prominent multinational corporations including U.S. Steel Corporation, International Harvester and General Electric. He and his partners also held controlling interests in numerous other American businesses including AT&T, Western Union and 24 railroads. Due to his financial clout, Morgan came to wield enormous influence over the nation's lawmakers and finances. During the Panic of 1907, he organized a coalition of financiers that saved the American economy from collapse.

As the Progressive Era's leading financier, J.P. Morgan's dedication to efficiency and modernization helped transform the shape of the American economy. Adrian Wooldridge characterized Morgan as America's "greatest banker". Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont Morgan Jr.

The Personal Quotes section below lists two versions of the quotation &quot;A man has two reasons for what he does...&quot;. The actual quote attributed to J.P. Morgan first appeared in author <a class="ipc-md-link ipc-md-link--entity" href="/name/nm0936644/?ref_=nmtrv_trv">Owen Wister</a>&#39;s memoir, &quot;Roosevelt: The Story of a Friendship&quot;. Wister&#39;s book about his friendship with <a class="ipc-md-link ipc-md-link--entity" href="/name/nm0740485/?ref_=nmtrv_trv">Theodore Roosevelt</a> was published in 1930, 27 years after Morgan&#39;s death. According to Wister, Morgan once said, &quot;&quot;A man always has two reasons for what he does - a good one, and the real one&quot;. Previous versions of this quote are discussed in an article on QuoteInvestigator.com (see Miscellaneous Links).

Biographer <a class="ipc-md-link ipc-md-link--entity" href="/name/nm2375857/?ref_=nmtrv_trv">Ron Chernow</a> estimated his fortune at only $118 million (of which approximately $50 million was attributed to his vast art collection).

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J.P. Morgan

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