b.1763 d.1848
John Jacob Astor is synonymous with the 19th century
fur trade. He is also synonymous with wealth. One of America's earliest
rags to riches stories, he was America's first
millionaire and left an estate valued at $20,000,000.
From 1808, when he established the American Fur Company, until 1834, when he sold off all his fur interests, Astor controlled the fur trade in America. He was a visionary -- and ruthless -- businessman. Astor diversified his interests early on -- he was involved in banking, shipping, and real estate. He also used his money to make plenty of political friends -- and was often rewarded through favorable legislation.
Born in Waldorf, Germany, he came to America in 1784 with twenty dollars and a few musical instruments for trade. Shortly after arrival he married Sarah Todd, daughter of an old Dutch family. Together they became America's first great money making machine.
Employees of Astor's Pacific Fur Company founded Astoria, Oregon -- which was America's first permanent settlement on the Pacific coast. The Waldorf-Astoria hotel in downtown New York City was built by his descendents.