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Anonymous asked in Arts & HumanitiesHistory · 1 decade ago

Who was America's first millionaire?

I recently went on a tour of both Washington D.C. and Fredericksburg, Virginia. The D.C. tour guide said Ben Franklin was the first millionaire. I know a bit about Franklin but this was news to me. The Fredericksburg tour guide said that ANOTHER man was the first millionaire in America. I can't remember his name but he is buried in a Masonic Cemetery in Fredericksburg, VA. Which is correct?

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  • 1 decade ago
    Favorite Answer

    Actually several claims have been made for that title complicated by how one wishes to measure wealth especially when the late 1700s were a time when financing was much more creative than today (2008).... Several sources cite John Jacob Astor whose fortune was made well after 1800 but others push the date back to the 1770s... Claims have also been made for Robert Morris who helped to finance America's Revolution and who ended his days in a debtors prison.

    Will toss links and snippets at you and let you make up your own mind..

    Elias Hasket Derby

    http://209.10.134.179/65/de/DerbyElH.html

    """(dûr´b) (KEY) , 1739–99, American merchant, b. Salem, Mass. He inherited the considerable wealth and maritime business that his father, Richard Derby (1712–83), also of Salem, had acquired in trade with Spain and the West Indies previous to the American Revolution. In the Revolution, Elias increased his wealth by fitting out a number of successful privateersmen. After the war he was a pioneer in exploring new trade routes, his ships being among the first to carry the Stars and Stripes to the Baltic and Asia. His most lucrative trade was with the island of Mauritius in the Indian Ocean. The success of his enterprises was partly due to his wise selection of captains and supercargoes. His mansion, built in 1797 by Samuel McIntire, was reputed the finest in Salem in its day. His son, Elias Hasket Derby, Jr. (1766–1826), b. Salem, made several remarkable voyages for his father’s firm and took over the business after his father’s death.""

    http://www.msp.umb.edu/firsts.html

    """The country's first millionaire, Elias Hasket Derby, made his fortune in Salem""

    http://history.sandiego.edu/gen/st/~kalenius/john....

    http://www.libertystory.net/LSACTIONROBERTMORRIS.h...

    Peace////////\\\\\\\\\\\\\

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  • 5 years ago

    This Site Might Help You.

    RE:

    Who was America's first millionaire?

    I recently went on a tour of both Washington D.C. and Fredericksburg, Virginia. The D.C. tour guide said Ben Franklin was the first millionaire. I know a bit about Franklin but this was news to me. The Fredericksburg tour guide said that ANOTHER man was the first millionaire in America. I can't...

    Source(s): america 39 millionaire: https://shortly.im/o6ndn
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  • 3 years ago

    Who Was The First Millionaire

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  • Andrea
    Lv 4
    4 years ago

    It takes more than just planning and decades of hard work to become a millionaire. There is a certain amount of luck involved. All of us on Y/A can plan and work for decades without becoming millionaires. Being in the right place at the right time certainly helps.

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  • 1 decade ago

    Elias Hasket Derby

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  • 7 years ago

    William Panton. Panton-Leslie Trading Co. Pensacola, FL

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  • xo379
    Lv 7
    1 decade ago
    • William Panton of Panton-Leslie, Pensacola, FL

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  • Anonymous
    1 decade ago

    ben franklin

    i think the people Fredricksburg tour guides are fools. I went there once, they were very biased and did not seem too intelligent on the matter. I would say your best bet is ben franklin.

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  • Anonymous
    4 years ago

    Pretty good arguments.

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  • Anonymous
    4 years ago

    Was asking myself the same question

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