19.08.

1870: Birth of Bernard Baruch – Wealthy Advisor to Wilson, Roosevelt, and Churchill

1870: Birth of Bernard Baruch – Wealthy Advisor to Wilson, Roosevelt, and Churchill
Photo Credit To Wikipedia Commons/Sir Winston Churchill, British statesman, and Bernard Baruch, financier, converse in the back seat of a car in front of Baruch's home

Story Highlights

  • Historical event
  • 19 August 1870
  • The link between Bernard Baruch and President Roosevelt was so strong that the latter spent around one month in 1944 at Baruch’s estate, called the Hobcaw Barony, in South Carolina (it covered an area of 6,300 hectares).

Bernard Baruch, American financier and political advisor of Jewish descent, was born on this day in 1870.

He was one of the most famous Wall Street brokers and became rich before the age of 30. In 1916, he left Wall Street in order to become an advisor to President Thomas Woodrow Wilson, the U.S. president at that time.

Since it was the time of World War I, Baruch played an especially large role in focusing the U.S. economy towards war production. He was the head of the influential War Industries Board.

Bernard Baruch received a new important role during the mandate of President Franklin Delano Roosevelt, at the time of the Great Depression.

He participated in Roosevelt’s New Deal program, whose goal was the recovery of the U.S. economy. When World War II broke out, Baruch advocated the founding of an institucion which would regulate war production and have great competences, similar to the mentioned War Industries Board.

The link between Bernard Baruch and President Roosevelt was so strong that the latter spent around one month in 1944 at Baruch’s estate, called the Hobcaw Barony, in South Carolina (it covered an area of 6,300 hectares).

Baruch also met British prime minister Churchill many times. He died in New York in 1965, at the age of 94.

 

Facebook Comments

Related posts