Marcus Goldman, founder of the most famous bank in the world
Today, we discuss one of the most prominent bankers in Egypt and the world in modern history, briefly talks about his journey and most prominent achievements, Marcus Goldman, founder of the most famous bank in the world.
Marcus Goldman is considered one of the most important bankers of the modern era, due to its founding in the mid-nineteenth century of one of the most famous banking corporates, Goldman Sachs, which has become the largest investment bank in the world.
Goldman was born on December 9, 1821, in Trappstadt, Kingdom of Bavaria. His father, Wolf Goldman, was a farmer and livestock dealer.
The most prominent step in his life was when he invited Samuel Sachs to join his business and establish Goldman Sachs company, so that the company’s banking business would flourish by 1880, which dealt with commercial securities worth $ 30 mn annually, and the company’s capital reached $ 100 thousand.
Goldman Sachs continued to flourish, as it cooperated with British financial institutions in diverting European capital to invest in US and finance the great industrial growth that the country was witnessing at the end of the 19th century.
It also succeeded in raising capital in larger quantities and relatively faster than other American financial institutions, thanks to its extensive relations in Europe. Goldman Sachs had close relations with Lehman Brothers, which participated in financing the production and marketing of goods.
Goldman Sachs continued its brilliance, joining New York Stock Exchange in 1896, and became famous for providing financial and management advice to economic institutions, governments and wealthy families around the world.
Marcus, the founder of Goldman Sachs, left our world in 1904 in Elberon, New Jersey, at the age of 82, leaving behind a strong banking institution, to transform after 2008 global financial crisis, with its counterparts Morgan Stanley, JPMorgan Chase, and Bank of America Merrill Lynch from specialized investment banks to comprehensive commercial and investment banks.
