Daniel Guggenheim (Dictionary of World Biography: Twentieth Century)
Article abstract: Through daring business risks and tight family control over his ventures, Guggenheim created one of the first multinational corporations and went a long way toward his goal of controlling the mineral wealth of the entire world.
Daniel Guggenheim was born July 9, 1856, in Philadelphia, Pennsylvania. His father was the greatest single influence in his life. Meyer Guggenheim had emigrated from Switzerland in 1848 to escape the restrictions placed on Jews in that country at that time. Daniel was the second of seven sons. When Daniel was born the family was still struggling. Meyer was a peddler who had gone into the manufacture and sale of stove polish and coffee essence. He made a large sum of money as a wholesaler during the Civil War. By the 1870’s, Meyer had branched into the making of lye for domestic soap, had speculated in railroad stock, and had formed the firm of Guggenheim and Pulaski to import lace and embroideries from Switzerland and Saxony. Meyer was determined to earn enough money to provide for his family even after his death. His children were given a lax religious upbringing. His goal was that they should receive as good an education as could be had, so Daniel and his brothers were sent to a Catholic school.
Academically, Daniel did not shine; like his father, he was more concerned with things practical. At seventeen, he was sent to Switzerland to perfect his...
(The entire section is 2388 words.)
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