John Jacob Raskob

John Jacob Raskob was a prominent American businessman and financier, best known for his involvement with DuPont and General Motors. He was a key figure in the development of these companies, working closely with notable individuals such as Pierre du Pont and William C. Durant. Raskob's career spanned multiple industries, including finance, automotive, and chemicals, and he was associated with influential organizations like the Federal Reserve System and the Catholic Church. His life and work were also connected to significant events, including the Wall Street Crash of 1929 and the Great Depression.

● Early Life and Education

John Jacob Raskob was born in Lockport, New York, to a family of German-American descent. He attended Canisius College in Buffalo, New York, and later studied at the University of Pennsylvania's Wharton School. Raskob's early life was influenced by his family's connections to the Catholic Church, and he was particularly close to Bishop Charles Colton of the Roman Catholic Diocese of Buffalo. His education and upbringing also brought him into contact with notable figures like Jesuit priests and Bishop John Joseph Williams of the Roman Catholic Archdiocese of Boston.

● Career

Raskob's career began in the early 1900s, when he worked as a bookkeeper for the Pierce-Arrow Motor Car Company in Buffalo, New York. He later moved to Wilmington, Delaware, to work for DuPont, where he became acquainted with prominent executives like Pierre du Pont and Irénée du Pont. Raskob's work at DuPont involved collaborations with other notable companies, including General Motors and the E.I. du Pont de Nemours and Company. His career was also influenced by his connections to the Federal Reserve System, the United States Department of the Treasury, and the Bank of England.

● DuPont and General Motors

Raskob's involvement with DuPont and General Motors was a significant aspect of his career. He worked closely with William C. Durant to develop the General Motors brand, and was a key figure in the company's early success. Raskob's connections to DuPont also brought him into contact with other influential companies, including the United States Rubber Company and the Goodyear Tire and Rubber Company. His work in the automotive industry was also influenced by his relationships with notable figures like Henry Ford and Walter Chrysler, as well as organizations like the Society of Automotive Engineers and the American Automobile Association.

● Finance and Investing

Raskob's career in finance and investing was marked by his involvement with various companies and organizations. He was a key figure in the development of the Empire Trust Company and the Bankers Trust Company, and worked closely with notable financiers like J.P. Morgan and John D. Rockefeller. Raskob's investments and financial dealings also brought him into contact with influential institutions like the New York Stock Exchange and the Federal Reserve Bank of New York. His financial activities were also influenced by his connections to the United States Department of Commerce and the Securities and Exchange Commission.

● Personal Life and Philanthropy

Raskob's personal life was marked by his strong connections to the Catholic Church and his philanthropic efforts. He was a close friend and advisor to Cardinal Dougherty of the Roman Catholic Archdiocese of Philadelphia, and worked with other notable Catholic leaders like Bishop Francis Spellman of the Roman Catholic Archdiocese of New York. Raskob's philanthropic efforts were focused on supporting Catholic institutions and organizations, including the Catholic University of America and the Knights of Columbus. His personal life was also influenced by his relationships with notable figures like Al Smith and Franklin D. Roosevelt, as well as his connections to the Democratic Party and the National Catholic Welfare Conference.

● Later Life and Legacy

Raskob's later life was marked by his continued involvement with DuPont and General Motors, as well as his philanthropic efforts. He remained a prominent figure in the business world, working with notable companies like the Chrysler Corporation and the Ford Motor Company. Raskob's legacy is also connected to his influence on the development of the United States economy, particularly during the Great Depression and World War II. His life and work were also recognized by various organizations, including the National Academy of Sciences and the American Philosophical Society. Raskob's connections to notable events like the Wall Street Crash of 1929 and the New Deal have also been the subject of study by historians like Arthur Schlesinger Jr. and Doris Kearns Goodwin.