Drexel, Anthony Joseph

Drexel, Anthony Joseph

(drĕk`səl), 1826–93, American banker and philanthropist, b. Philadelphia. He entered (1838) at an early age the well-known banking firm of Drexel and Company, founded by his father, Francis Martin Drexel, an Austrian immigrant. Anthony became a partner, and later under his dominant leadership the firm expanded extensively. Drexel Institute (now Drexel Univ.Drexel University,
at Philadelphia, Pa.; coeducational; founded 1891 by Anthony J. Drexel, opened 1892, chartered 1894 as Drexel Institute of Art, Science, and Industry. It was renamed Drexel Institute of Technology in 1936 and gained university status in 1970.
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), opened in 1892, was the most important of his many philanthropies.

Drexel, Anthony Joseph

(1826–93) banker; born in Philadelphia. He joined his father's banking house, Drexel & Company, in 1847 and helped the company expand rapidly after the death of his father, Francis Martin Drexel (1792–1863). When Anthony's brother died in 1885, he took over the firm, which continued to prosper and expand. He dabbled in real estate and publishing. A philanthropist, his largest gift established the Drexel Institute at Philadelphia (1892) to promote industrial education.