George Peabody
| George Peabody | |
|---|---|
 |
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| Born |
February 18, 1795 South Danvers, Massachusetts, U.S. |
| Died | November 4, 1869 (aged 74) London, England |
| Resting place | Harmony Grove Cemetery, Salem, Massachusetts |
| Occupation | Financier, banker, entrepreneur |
| Net worth | USD $16 million at the time of his death (approximately 1/556th of US GNP) |
| Parent(s) | Thomas Peabody and Judith Dodge |
George Peabody (/ˈpiːbədi/ PEE-bə-dee; February 18, 1795 – November 4, 1869) was an American-British financier widely regarded as the "father of modern philanthropy."
Born poor in Massachusetts, Peabody went into business in dry goods and later in banking. In 1837, he moved to London, then the capital of world finance, where he became the most noted American banker and helped to establish the young country's international credit. Having no son of his own to whom to pass on his business, Peabody took on Junius Spencer Morgan as a partner in 1854, and their joint business would go on to become J.P. Morgan & Co. after Peabody's 1864 retirement.
In his old age, Peabody won worldwide acclaim for his philanthropy. He founded the Peabody Trust in Britain and the Peabody Institute and George Peabody Library in Baltimore, and was responsible for many other charitable initiatives. For his generosity, he was awarded the Congressional Gold Medal and made a Freeman of the City of London, among many other honors.
Peabody was born in 1795 what was then South Danvers (now Peabody), Massachusetts. His family had Puritan ancestors in the state, but were poor. As one of 7 children, George suffered some deprivations during his childhood, and was only able to attend school for a few years. These factors influenced his later devotion to both thrift and philanthropy.
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