Astor, John Jacob

Astor, John Jacob

(1763–1848) fur trader, real estate investor, millionaire; born in Waldorf, near Heidelberg, Germany. He moved to England at age 16 and then to New York City (1784). He worked at various jobs but soon entered the fur trade and had his own business by 1786. The leading merchant in the North American fur trade by 1800, he gained access to the China trade and invested heavily in New York City real estate. He combined all his fur holdings into the American Fur Company (1808). He planned the Astoria colony in Oregon (1811) but sold the property when it was threatened by the War of 1812. His Manhattan real estate continued to prosper and he sold his fur interests in 1834. He administered his estate wisely and at his death, his worth was at least $20 million, making him the wealthiest man in America. Among his most far-reaching bequests was $350,000 to found a public library in New York City. (The famous New York City hotel named after him, the Waldorf-Astoria, carries on the names of two hotels originally built by his grandsons.)

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Astor, John Jacob

(1864–1912) financier, inventor; born in Rhinebeck, N.Y. (great-grandson of John Jacob Astor, 1763–1848). He built the Astoria section of the Waldorf-Astoria Hotel in 1897. He served in the Spanish-American War. He invented a bicycle brake and an improved turbine engine. He went down with the Titanic after a notable display of courage and gallantry.

The Cambridge Dictionary of American Biography, by John S. Bowman. Copyright © Cambridge University Press 1995. Reproduced with permission.