answersLogoWhite

0


Best Answer

· He would buy distressed businesses and railroad companies. The biggest company that Morgan invested in was the forming of the U.S. Steel Corporation. Morgan was alive during the civil war and bought five thousand rifles. At one point Morgan also helped out the U.S. government. The U.S. was in problems because of inflation and this put a burden on their gold reserve. In 1895 Morgan sold government bonds for gold. He ended up buying $200 million government bonds with gold. Morgan also collected a lot of paintings, sculptures and tapestries.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar
User Avatar

xvc

Lvl 1
4y ago
He also bought slaves
More answers
User Avatar

Wiki User

11y ago

Prostitutes

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How did John Pierpont Morgan spend his money?
Write your answer...
Submit
Still have questions?
magnify glass
imp