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  4. 29
  5. John Jacob Astor

Deaths on March 29

John Jacob Astor
1848Mar, 29

John Jacob Astor

John Jacob Astor, German-American businessman (b. 1763)
John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-American businessman, merchant, real estate mogul, and investor who made his fortune mainly in a fur trade monopoly, by smuggling opium into China, and by investing in real estate in or around New York City. He was the first prominent member of the Astor family and the first multi-millionaire in the United States.

Born in Germany, Astor emigrated to England as a teenager and worked as a musical instrument manufacturer. He moved to the United States after the American Revolutionary War. Seeing the expansion of population to the west, he entered the fur trade and built a monopoly, managing a business empire that extended to the Great Lakes region and Canada, and later expanded into the American West and Pacific coast. Seeing a decline in demand due to changing European tastes, he got out of the fur trade in 1830, diversifying by investing in New York City real estate. Astor was highly wealthy and became a famed patron of the arts. In proportion to GDP, he was one of the richest people in modern history.

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Events on 1848

  • 15May

    1848 revolutions

    Serfdom is abolished in the Habsburg Galicia, as a result of the 1848 revolutions. The rest of monarchy followed later in the year.
  • 18May

    Frankfurt Parliament

    Opening of the first German National Assembly (Nationalversammlung) in Frankfurt, Germany.
  • 19Jul

    Seneca Falls Convention

    Women's rights: A two-day Women's Rights Convention opens in Seneca Falls, New York.
  • 29Sep

    Hungarian Revolution of 1848

    Battle of Pákozd: Stalemate between Hungarian and Croatian forces at Pákozd; the first battle of the Hungarian Revolution of 1848.
  • 1Nov

    Boston University

    In Boston, Massachusetts, the first medical school for women, Boston Female Medical School (which later merged with the Boston University School of Medicine), opens.

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