Encyclopedia > John Jacob Astor

  Article Content

John Jacob Astor

John Jacob Astor (July 17, 1763 - March 29, 1848) made a fortune in fur trading and real estate.

Born in Walldorf[?], Baden, Germany, he learned English in London, England while working for his brother George[?] whose business was manufacturing musical instruments.

Astor arrived in the United States at the end of the Revolutionary War in 1783. He started a fur goods shop in New York City in the late 1780s.

Astor took advantage of a treaty called Jay's Treaty between the United Kingdom and the United States in 1794 which opened new markets in Canada and the Great Lakes region at the expense of the Canadians. By 1800 he had amassed nearly a quarter of a million dollars, and had become one of the leading figures in the fur trade. Astor was given permission to trade in ports monopolized by the British East India Company, and greatly benefited from the fur trade with China. He established the American Fur Company[?] on April 6, 1808 headquartered in Astoria, Oregon but this fur trading venture failed when the British captured his trading posts during the War of 1812. A lengthy description based on documents, diaries etc. was given by Washington Irving in his travelogue Astoria.

Astor turned his sights on New York City real estate. At the time of his death, Astor was the wealthiest person in the United States, leaving an estate estimated to be worth 20 million dollars.



All Wikipedia text is available under the terms of the GNU Free Documentation License

 
  Search Encyclopedia

Search over one million articles, find something about almost anything!
 
 
  
  Featured Article
Oncotic pressure

... pressure In blood plasma, the dissolved compounds have an osmotic pressure. A small portion of the total osmotic pressure is due to the presence of large protein ...