August Belmont

August Belmont

August Belmont was born on December 8th, 1813

Full Name: August Belmont
Place of Birth: Alzey, Germany
Profession: Financier, Diplomat
Nationality: American
Known For: Financier, Diplomat
Role: Financier, Ambassador
Country: United States
Diplomatic role: Ambassador to the Netherlands

A Prussian-American financier and diplomat who served as the 16th United States Ambassador to the Netherlands, known for his influential role in American politics and finance during the mid-19th century.

Written by: Victor Malone Victor Malone

A Life of High Stakes and Diplomatic Flair

August Belmont, born Aaron Schnberg, was a German-American financier, diplomat, and politician who left an indelible mark on the world of high finance, politics, and thoroughbred horse racing. He is perhaps best known as the founder and namesake of the Belmont Stakes, the third leg of the Triple Crown of American Thoroughbred horse racing.

Early Life and Education

Belmont was born on December 8, 1813, in Alzey, Germany, to a Jewish family of Spanish descent. His father, Simon Belmont, was a prominent citizen and owner of a freehold estate, serving as president of the local synagogue. After his mother's death when he was just seven, Belmont was sent to live with his uncle and grandmother in Frankfurt, where he attended the Philanthropin, a school founded by Mayer Amschel Rothschild.

Rise to Prominence

Belmont's relatives prevailed upon the Rothschild family to train him for business, and he began his apprenticeship as a confidential clerk. He quickly rose through the ranks, becoming secretary and traveling companion to one of the firm's partners, which led to his first trip outside Germany to Paris, Naples, and the Vatican City. In 1837, the Rothschild branches in Paris and London recognized his talent, and he was appointed to represent their interests in the United States.

Business Career and Diplomatic Ventures

Belmont's business acumen and diplomatic flair led him to become a prominent figure in American politics and finance. He served as Chair of the Democratic National Committee from 1860 to 1872 and played a crucial role in shaping the party's platform. He was also a key advisor to President James Buchanan and later to President Andrew Johnson.

Thoroughbred Enthusiast

Belmont's passion for thoroughbred horse racing led him to establish the Belmont Stakes in 1867, which would become one of the most prestigious horse racing events in the world. He bred and owned several notable horses, including the champion Thoroughbred, Fenian.

Personal Life and Legacy

Belmont married Caroline Slidell Perry, a member of a prominent American family, and had six children with her. He died on November 24, 1890, leaving behind a legacy of business acumen, diplomatic flair, and a lasting impact on the world of thoroughbred horse racing.

Net Worth and Financial Impact

Belmont's net worth at the time of his death was estimated to be around $10 million, approximately $250 million in today's value. His financial acumen and business ventures had a significant impact on the American economy, particularly in the fields of finance and trade.

Philosophical Contributions and Beliefs

Belmont was a firm believer in the power of capitalism and individual initiative. He was also a strong advocate for the principles of democracy and free trade. His philosophical contributions to the fields of politics and finance continue to influence modern thought and policy.

Influence on Modern Society

Belmont's legacy extends far beyond his own time. His contributions to the world of thoroughbred horse racing have made the Belmont Stakes a beloved American institution. His business acumen and diplomatic flair have inspired generations of entrepreneurs and politicians. His commitment to democracy and free trade continues to shape American politics and policy.

Trivia and Fun Facts

Timeline
1813
Birth
August Belmont was born on December 8, 1813, in Alzey, Germany.
1837
Moved to the United States
Belmont moved to the United States, where he worked as a clerk for the Rothschild familys bank.
1844
Founded August Belmont & Co.
Belmont founded August Belmont & Co., a bank that became a leading financial institution in the United States.
1853
Became the U.S. Ambassador to the Netherlands
Belmont was appointed as the U.S. Ambassador to the Netherlands, a position he held until 1854.
1890
Death
August Belmont died on November 24, 1890, at the age of 76.
August Belmont

August Belmont Quiz

What was August Belmont's profession?

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FAQ
What was August Belmonts role in the American financial industry?
August Belmont was a Prussian-American financier and diplomat who played a significant role in the American financial industry. He was a founder of the investment firm of August Belmont & Co. and served as a representative of the Rothschild family in the United States.
What was August Belmonts diplomatic career?
August Belmont had a distinguished diplomatic career, serving as the 16th United States Ambassador to the Netherlands from 1853 to 1855. He played an important role in maintaining good relations between the United States and the Netherlands during a time of international tensions.
What was August Belmonts relationship with the Rothschild family?
August Belmont was a close associate and representative of the Rothschild family in the United States. He worked closely with the Rothschilds to facilitate international finance and trade, and helped to establish their influence in the American financial industry.
What was August Belmonts role in the American Civil War?
August Belmont played a significant role in financing the Union war effort during the American Civil War. He helped to raise capital for the government and supported the sale of war bonds.
What is August Belmonts legacy in American finance?
August Belmonts legacy in American finance is his significant contributions to the development of the American financial industry. He helped to establish the United States as a major financial power and played a key role in shaping the countrys financial institutions.

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