Sign in
John Jacob Astor I
Photo: John Wesley Jarvis, Public domain, via Wikimedia Commons13

John Jacob Astor I

German-born American businessman (1763–1848)

John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-born American businessman, merchant, real estate mogul, and investor. Astor made his fortune mainly in a fur trade monopoly, by exporting opium into the Chinese Empire, and by investing in real estate in or around New York City during the late 18th and early 19th centuries.2

From Wikipedia’s article on John Jacob Astor I (this version), CC BY-SA 4.0.

Born Jul 17, 1763, died Mar 29, 1848.1

About

He was the first prominent member of the Astor family and the first multi-millionaire in the United States.

Born in Germany, Astor immigrated to England as a teenager and worked as a musical instrument manufacturer. He moved to the United States after the American Revolutionary War (1775–1783). Seeing the expansion of population to the west, Astor entered the fur trade and built a monopoly, managing a business empire that extended to the Great Lakes region and north into British North America (future Dominion of Canada). It later expanded into the Western United States and the American frontier West and extended to the far West Coast and Pacific Ocean.

Following a decline in demand due to changing European styles and tastes in beaver fur mens' hats and clothing tastes, he got out of the fur trade in 1830, diversifying by investing in New York City real estate. Astor became one of the wealthiest men in the United States and became a prominent patron of the arts.

At the time of his death, Astor's estate was estimated to be $20 to $30 million, roughly equivalent to $744 million to $1.12 billion in 2025. In proportion to the GDP, he was one of the richest people in modern history, with 0.9% to 1.35% of the US GDP at his time of death. This was previously popularised by Nathaniel P. Tallmadge remarking "one in every 100 dollars in this country ends up in J Astor's hands" during Tallmadge's 1839–1840 campaign for the U.S. Senate.

From Wikipedia’s article on John Jacob Astor I, shared under CC BY-SA 4.0.2

Companies

Early life and education

Johann Jakob Astor was born in 1763 in Walldorf, a town near Heidelberg in the Electoral Palatinate, which is in the present-day German state of Baden-Württemberg. He was the youngest son of Johann Jacob Astor and Maria Magdalena vom Berg. His three older brothers were George, Henry, and Melchior. In his childhood, Johann worked in his father's butcher shop and as a dairy salesman.

The Astor family ancestors were Waldensians who had presumably fled France due to religious persecution. In 1779, at the age of 16, he moved to London to join his brother George in working for an uncle's piano and flute manufacturer, Astor & Broadwood. While there, he learned English and anglicized his name to John Jacob Astor.

From Wikipedia’s article on John Jacob Astor I (this version), CC BY-SA 4.0.

Career

Occupation: wholesaler, entrepreneur, merchant.6

Personal life

  • BornJul 17, 1763, Walldorf7
  • DiedMar 29, 1848, Manhattan8
  • CitizenshipElectoral Palatinate, United States9
  • SpouseSarah Todd married 178510

On September 19, 1785, Astor married Sarah Cox Todd (April 9, 1762 – August 3, 1832). Her parents were Scottish immigrants Adam Todd and Sarah Cox. Although she brought him a dowry of only $300, she possessed a frugal mind and a business judgment that he declared better than that of most merchants. She assisted him in the practical details of his business, and managed Astor's affairs when he was away from New York. He and Sarah moved to a townhouse on Prince Street in New York.

They had eight children. Magdalena Astor (1788–1832), first married Adrian Benjamin Bentzon in 1807, and then John Bristed in 1820. She was the mother of Charles Astor Bristed. Sarah Todd Astor (1790–1790), was stillborn. John Jacob Astor Jr. (1791–1869), was sickly and mentally unstable. William Backhouse Astor Sr. (1792–1875), who married Margaret Alida Rebecca Armstrong, daughter of Senator John Armstrong Jr., in 1818.

Dorothea Astor (1795–1874), married Walter Langdon. They owned the Langdon Estate Gatehouse. Henry Astor II (1797–1799), died as a child. Eliza Astor (1801–1838), married Vincent Rumpff. An unnamed son (1802–1802), died within a few days of his birth.

Read more

Fraternal organizations

Astor belonged to the Freemasons, a fraternal order, and served as Master of Holland Lodge #8, New York City in 1788. Later he served as Grand Treasurer for the Grand Lodge of New York. He was president of the German Society of the City of New York from 1837 to 1841.

From Wikipedia’s article on John Jacob Astor I (this version), CC BY-SA 4.0.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13