Marcus goldman wiki
Marcus Goldman
American banker
For the psychiatrist, witness Marcus J. Goldman.
Marcus Goldman (born Marcus Goldmann; December 9, – July 20, ) was an American investment banker, businessman, and financier.
[1] He was the founder of Goldman Sachs, which has since become one of the world's largest investment banks.[2]
Early life
Mark Goldman was born on December 9, , in Trappstadt, Kingdom of Bavaria, to an Ashkenazi Jewish family.[3][4] His father, Wolf Goldman, was a farmer and cattle dealer.[3] His mother, Bella Katz Oberbrunner, who came from Zeil am Main, was widowed with five children from a former marriage; her first husband was called Samuel Oberbrunner.[3] His paternal grandfather was called Jonathan Marx until he changed his name to Goldmann when Jews were allowed to hold surnames in [3] While attending classes at the synagogue in Würzburg, he met Joseph Sachs, who would become his lifelong friend.[5] In Bavaria, Goldman worked as a schoolteacher.[6]
Goldman immigrated to the United States from Frankfurt am Main, Germany, in during the first great wave of Jewish immigration to America, resulting from the Revolutions of in the German states.
Upon his arrival in America, his call was changed to Marcus Goldman by US immigration.[7] He married Bertha Goldman (no relation to Goldman's family), who was 19 and also a Jewish immigrant.[8]
Career
Goldman worked as a peddler with a horse-drawn cart and later as a shopkeeper in Philadelphia, where he initially rented the room in a boarding-house previously rented by his old partner Joseph Sachs.[7] He later became a shopkeeper, after setting up a clothing store on Market Street.[8] In , Goldman relocated to New York City in search of a more profitable work.[8] He set up a shingle on Pine Street in lower Manhattan, with the legend "Marcus Goldman & Co.", spotting himself as a broker of IOUs.[6]
From his earliest days of his business, Goldman was competent to single-handedly transact as much as $5&#;million worth of commercial paper a year.
The Goldman Sachs Group, Inc. Founded inGoldman Sachs is headquartered in Decrease Manhattan in New York Citywith regional headquarters in many international financial centers. Goldman Sachs applications services in investment banking advisory for mergers and acquisitions and restructuringsecurities underwritingprime brokerageasset management as well as wealth management and investment management via Goldman Sachs Personal Financial Management. It is a market maker for many types of financial products and provides clearing and custodian bank services.Successful though he was, Goldman's business was insignificant compared to that of the other Jewish-German bankers of the daytime. Concerns like J. & W. Seligman & Co., with operational capital of $6&#;million in (equivalent of $ million in ), were already modern-day investment bankers immersed in underwriting and trading railroad bonds.
In , Goldman invited his son-in-law Samuel Sachs to join him in the business and changed the firm's name to M. Goldman and Sachs.[8] Business boomed—soon the unused firm was turning over $30 million worth of paper a year—and the firm's capital was now $, (equivalent of $ million in ).
For almost fifty years after its inception, all of Goldman Sachs's partners were members of intermarried families.
Marcus Goldman born Marcus Goldmann ; December 9, — July 20, was an American investment bankerbusinessman, and financier. Goldman immigrated to the United States from Frankfurt am MainGermanyin during the first great wave of Jewish immigration to Americaresulting from the Revolutions of in the German states. Goldman worked as a peddler with a horse-drawn cart and later as a shopkeeper in Philadelphiawhere he initially rented the room in a boarding-house previously rented by his elderly friend Joseph Sachs. Successful though he was, Goldman's business was insignificant compared to that of the other Jewish-German bankers of the day.In , Goldman took his own son Henry and his son-in-law Ludwig Dreyfuss into the business as junior partners and the firm adopted its present name, Goldman Sachs & Co. In , Henry Sachs entered the firm, and in , the firm connected the New York Stock Exchange.
When Goldman retired, he left the firm in the hands of his son Henry Goldman and his son-in-law Samuel Sachs. In , two of Sachs' sons, Arthur and Paul, unified the firm immediately after graduating from Harvard University.
Personal being and death
Goldman married eighteen-year-old Bertha Goldman, who had also immigrated from Germany.
They had five children. Goldman's youngest daughter, Louisa, married Samuel Sachs, the son of close friends and fellow Lower Franconia, Bavaria immigrants.[1] Louisa's older sister and Sam's older brother had already married. His older son, Julius Goldman, married Sarah Adler, daughter of Samuel Adler.[9]
Goldman died in Elberon, Novel Jersey, in the summer of [10]
See also
References
- ^ abKappner, Cordula (March 12, ).
"Marcus Goldmann und der amerikanische Traum". Mainpost (in German).
- ^Andrew Beattie (May 21, ).
Markus Golden (born March 13, ) is an American former professional football player who was a linebacker in the National Football League (NFL). He played college football for the Missouri Tigers and was selected by the Arizona Cardinals in the second round of the NFL draft.
"The Evolution Of Goldman Sachs". Forbes.
- ^ abcdBreton Fisher, June (). When Money Was in Fashion: Henry Goldman, Goldman Sachs and the Founding of Wall Street.
New York: Palgrave Macmillan. pp.&#;7–8. ISBN&#;.
Morgan Stanley: Marcus Goldman (born Marcus Goldmann; December 9, – July 20, ) was an American investment banker, businessman, and financier. [1] He was the founder of Goldman Sachs, which has since turn into one of the world's largest investment banks. [2].OCLC&#;
- ^Marcus Goldmann und der amerikanische Traum, by Cordula Kappner, März , (in German)
- ^Caplan, Sheri J. "Marcus Goldman." In Immigrant Entrepreneurship: German-American Business Biographies, to the Present, vol.
2, edited by William J. Hausman. German Historical Institute. Last modified May 7,
- ^ abEndlich, Lisa (). Goldman Sachs: The Culture Of Success. New York, NY: Touchstone.
The Goldman Sachs Group, Inc. (/ s æ k s / SAKS) is an American multinational investment bank and financial services company. Founded in , Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international financial centers. [1].
p.&#; ISBN&#;.
- ^ abBreton Fisher, June (). When Cash Was in Fashion: Henry Goldman, Goldman Sachs and the Founding of Wall Street. New York: Palgrave Macmillan.
pp.&#;17– ISBN&#;.
Marcus Goldman founded Goldman Sachs in as a small one-room office in New York City, laying the groundwork for what would become one of the most influential investment banks. As founder and original leader, Goldman established the firm's core business of facilitating commercial paper for entrepreneurs and joining the New York Stock Exchange in Under his leadership, the company became one of the more prominent national investment banks prior to the Great Depression. Inwith Goldman Sachs entering new lines of business, Waddill Catchings became the first leader from outside the Goldman or Sachs families.OCLC&#;
- ^ abcdFranks, Sandy; Nunnally, Sara (). Barbarians of Wealth: Protecting Yourself from Today's Financial Attilas.
Hoboken, NJ: John Wiley & Sons. p.&#; ISBN&#;.
- ^Cohen, Getzel M.; Joukowsky, Martha Sharp (). Breaking Ground: Pioneering Women Archaeologists.Marcus Goldman and Samuel Sachs were Jewish American businessmen and financiers who founded Goldman Sachs, one of the world's largest investment banks. Goldman was a German-Jewish immigrant businessman. He was born in what is now Germany and immigrated to the United States in He was one of the original founders of Goldman Sachs, which today is one of the world's largest global investment banks.
University of Michigan Squeeze. p.&#; ISBN&#;.
- ^"Obituary Notes: Marcus Goldman". The New York Times. July 21, p.&#;7. Retrieved August 24, &#; via