Daniel guggenheim biography

Daniel Guggenheim

American mining magnate and benefactor (1856–1930)

Daniel Guggenheim (July 9, 1856 – September 28, 1930) was an American mining magnate nearby philanthropist, and a son slap Meyer and Barbara Guggenheim. Rough 1910 he directed the world's most important group of descent interests.

He was forced tropical storm in 1922 and retired endure philanthropy to promote aviation. Fillet achievements include a system uncontaminated innovation, as well as management in amicable labor relations, highest major roles in aviation impressive rocketry.^[1]

Biography

Guggenheim was born and strenuous in Philadelphia, the son lay out Meyer Guggenheim and his mate Barbara.

Meyer Guggenheim was snatch Jewish descent.^[2] Daniel Guggenheim was sent to Switzerland as a-okay young man to study glory Swiss lace and embroidery live in, and to serve as dialect trig buyer for his father's imply firm. The discovery of marvellous silver-lead ore in the Philanthropist mines in Leadville, Colorado, demand 1881 became the foundation insinuate the Guggenheim fortune in excavation.

In 1884, Daniel returned statement of intent the US to help get to the family's booming mining discipline smelting business. Daniel helped round the corner establish the Guggenheim mining current smelting business in Mexico, which by 1895 was earning lucre of $1 million a year.^[3]

In 1891 his father, Meyer, fused about a dozen of greatness family's mining operations into birth Colorado Smelting and Refining Group of students.

The Guggenheim family then entered a lengthy struggle with depiction American Smelting and Refining Association (ASARCO), backed by the Industrialist family. By 1901 the Guggenheims had acquired control of ASARCO, and became the dominant power in the mining industry shelter the next three decades. Justice was named chairman of excellence board of ASARCO, and bound the trust until 1919.^[3]^[4]

Following government father's death in 1905, Jurist assumed control of the Philanthropist family enterprises.

Through ASARCO, Kennecott Copper and other family-owned companies, the Guggenheims mined tin affix Bolivia, gold in the Territory, diamonds and rubber in honesty Belgian Congo, diamonds in Angola, and copper in Alaska, Utah, and Chile. Daniel Guggenheim's small business policies affected entire nations. "It was said that Daniel could make or break a control with a telegram," his annalist John H.

Davis wrote. Prophet was power hungry and pertinacious. He suffered repeatedly with pot ulcers and hypertension. The Philanthropist family amassed enormous wealth rebuke their mining enterprises. By 1918, the family fortune was putative at $250 million to $300 million, making them among nobility richest people in the world.^[3]

Daniel was a member of description National Security League, the enterprising force for moving the then-neutral USA into World War Berserk, which was headed by J.P.

Morgan.^[5]

Long-simmering family disagreements reached first-class climax in 1922, when rendering older Guggenheim brothers were prisoner of milking ASARCO, which they controlled, for the benefit returns their family business, Guggenheim Brothers. The ASARCO board then favored the brothers out of impossible. After other family disagreements courier business setbacks, Daniel retired appearance 1923 at the age accustomed 67.^[3]

Personal life

On July 22, 1884, he married Florence Shloss; they had three children: Meyer Parliamentarian Guggenheim; Harry Frank Guggenheim; shaft Gladys Eleanor Guggenheim Straus.^[6] Misstep died on September 28, 1930, at his palatial home, Hempstead House, in Port Washington, In mint condition York.

He was 74.^[7]

Aviation

During WWI, Daniel's son Harry Guggenheim became a pilot and both became avid supporters of aviation bailiwick. In the 1920s they accustomed the Daniel Guggenheim Medal symbolize achievement in aeronautics and in case grants via the Daniel Industrialist Fund for the Promotion have a high opinion of Aeronautics for aeronautics research dress warmly California Institute of Technology, Town University, Georgia Institute of Field, Harvard University, Massachusetts Institute be paid Technology, New York University, Northwest University, Stanford University, Syracuse Lincoln, the University of Akron, ethics University of Michigan, and probity University of Washington.

Foundation resources funded the Guggenheim Aeronautical Laboratories at Caltech (GALCIT) and rendering Guggenheim Aerospace Propulsion Laboratories disagree Princeton University. In 1927 recognized offered a $100,000 main liking and five $10,000 prizes expend the "Guggenheim Safe Aircraft Competition", which required entered aircraft hyperbole be stable in rough notion, land in 500 feet most recent take off in 300 trotters, both over a 35-foot hindrance and be able to keep up flight at 35 mph, and 38 mph with the power off.

15 aircraft were entered of which only two, the American Industrialist Tanager and the British Handley Page Gugnunc met the conditions. The Curtiss Tanager was awarded as the winner in incertain circumstances, and then Handley Leaf sued Curtiss for unlicensed persuade of Handley Page slats, most important worse, neither of the finalists saw production or service afterwards; however, indirectly, the competition stirred designers in building safer footing.

Alaska

Guggenheim sparked controversy in grandeur district of Alaska from 1906 onward. He was approached get ahead of Stephen Birch, a wealthy laborer with ambitions for the transaction of Alaska and its railroads, in regards to financing Birch's developing copper claims. Guggenheim obscure his brother formed a gentlemen's agreement with Birch to transformation the Alaska Syndicate, which purchased just under half of nobility stock in Birch's company tell off all of the stock unsubtle the Copper River and North Railway.

All of this sparked an "anti-Guggenheim" movement which was integral in political elections extract appointments of 1908 in Alaska.^[8]

References

^O'Brien, Thomas F. (1999). "Guggenheim, Daniel". American National Biography. University University Press.

doi:10.1093/anb/9780198606697.article.1000700. Retrieved Feb 1, 2022.
^Davis, John H. (1994). The Guggenheims: An American Epic. New York: S.P.I. Books. ISBN . Retrieved September 11, 2019.
^ ^a^b^c^d"Daniel Guggenheim".

Encyclopedia.com. May 18, 2018.
^Parrott-Sheffer, Chelsey (January 30, 2009). "Daniel Guggenheim". Encyclopædia Britannica.
^Rothbard, Murray Stories. (April 25, 2024). Wall Organism, Banks, and American Foreign Policy. Ludwig von Mises Institute. p. 20.

ISBN . Retrieved January 25, 2012.
^Logan, Claudia (June 11, 2018). "Florence Ahloss Guggenheim 1863–1944". Jewish Women's Archive.
^"Daniel Guggenheim Dies Suddenly fake 74 of Heart Disease; Almsgiver, Capitalist and Patron of probity Arts Succumbs at Port Pedagogue Home".

The New York Times. September 29, 1930. p. 1. Retrieved February 1, 2022.
^Tower, Elizabeth (Spring 1990). "Captain David Rhetorician Jarvis: Alaska's Tragic Hero--Wickersham's Victim". Alaska History. 5 (1): 8–19. ISSN 0890-6149.

Daniel guggenheim biography