Spencer Trask
| Spencer Trask | |
|---|---|
 |
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| Born |
September 18, 1844 Brooklyn, New York |
| Died | December 31, 1909 (aged 65) Croton, New York |
| Occupation | Financier, philanthropist |
| Spouse(s) | Katrina Trask |
Spencer Trask (September 18, 1844 – December 31, 1909) was an American financier, philanthropist, and venture capitalist. Beginning in the 1870s, Trask began investing and supporting entrepreneurs, including Thomas Edison's invention of the electric light bulb and his electricity network. In 1896 he reorganized The New York Times, becoming its majority shareholder and chairman.
Along with his financial acumen, Trask was a generous philanthropist, a leading patron of the arts, a strong supporter of education, and a champion of humanitarian causes. His gifts to his alma mater, Princeton University, set a lecture series in his name that still continues to this day. He was also an initial trustee of the Teachers' College (now Teachers College, Columbia University) and St. Stephen's College.
Spencer Trask was born in 1844 to Alanson and Sarah (Marquand) Trask in Brooklyn, New York. His father was a direct descendant of Captain William Trask, a leader in the formation of the Massachusetts Bay Colony. After completing a course at New York University Tandon School of Engineering (then Brooklyn Polytechnic Institute) and then going to and graduating from Princeton University in 1866, Spencer Trask joined his uncle to form the investment firm Trask & Brown, which became Spencer Trask & Company in 1881. Trask was married in 1874 to Katrina Nichols, an author.
Trask was often a supporter of new inventions in their experimental stages, having formed an early appreciation for the connection between technology, business and finance during his time at Polytechnic University in Brooklyn. He foresaw the potential of inventions such as the Marconi wireless telegraph, the telephone, the phonograph, the trolley car, and the automobile; "to all of these he gave of his time, his money and his judgment, to aid in their development."
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