Bernard Baruch

Bernard Mannes Baruch (August 19, 1870 – June 20, 1965) was an American financier, stock market and commodities speculator, statesman, and presidential adviser. After his success in business, he devoted his time toward advising a range of American presidents including Woodrow Wilson and John F. Kennedy on economic matters for over 40 years; this is why Baruch was highly regarded as an elder stateman. Described as a man of immense charm who enjoyed a larger-than-life reputation that matched his considerable fortune, he is remembered as one of the most powerful men of the early 20th century.

Beginnings

Bernard Baruch was born in Camden, South Carolina on Friday August 19, 1870 to Simon and Belle Baruch. He was the second of four sons. His father Simon was a German immigrant who came to America in 1855 to avoid conscription in the Prussian army, but, alas, military service was Simon Baruch's destiny -- so he became a field surgeon on the staff of Robert E. Lee for the Confederate army during the Civil War. In 1881, the family moved to New York City, and Bernard Baruch graduated from the City College of New York eight years later. Shortly thereafter, he was hired for his first job as an office boy, earning $3.00 a week.

Related Topics:
Camden, South Carolina - German - Prussia - Robert E. Lee - Confederate army - Civil War - New York City - City College of New York

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He eventually became a broker, and then a partner in the firm of A. Housman and Company. With his earnings and commissions he was eventually able to buy a seat on the New York Stock Exchange. There he amassed a fortune before the age of 30 via speculation. In 1903, he had his own brokerage firm, and had gained the reputation of "The Lone Wolf on Wall Street" because of his refusal to join any other financial house. By 1910, he had become one of Wall Street's financial leaders.

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