(September 7, 1867 – March 13, 1943) was an American banker, finance executive, and philanthropist.
Jack Morgan inherited the family fortune and took over the business interests including J.P.
Morgan & Co.
after his father J.
P.
Morgan died in 1913.
A graduate of St.
Paul's School and Harvard, he was trained as a finance executive in the business world, having worked for both his father and grandfather, that would serve him well as a banking financier and lending leader, and was a director of several companies.
He supported the New York Lying-In Hospital, the Red Cross, the Episcopal Church, and provided an endowment for the creation of a rare books and manuscripts collection at the Morgan Library.
Morgan brokered a deal that positioned his company as the sole munitions and supplies purchaser during World War I for the British and French governments.
The results produced a one percent commission on $3 billion (that is, $30 million) to the company.
Morgan was also a banking broker for financing to foreign governments both during and after the war.