The Astor Family in the UK and US
The Astor Family is a prominent business and socio-political family. They were most prominent during the 19th and 20th centuries in both the UK and the United States, despite being of German descent. Most Americans are familiar with John Jacob Astor, who was the youngest of four sons born to a butcher and his wife.
John and his brother George were German flute makers who came to the US seeking fame and fortune. John had formed the plans to come to America while he was working in Walldorf, Germany. There, he anglicized his name and learned to speak English.
When the two brothers arrived in Baltimore, they began dealing woodwind instruments. Soon, their travels took them to New York where they opened a fur trade. They also dealt in pianos, in keeping with their beginnings as flute makers, and real estate. It was in these endeavors that the Astor Family made the bulk of its early earnings.
Astor’s fur company helped establish a Columbia River trading post in Fort Astoria in 1811, after he self-financed an expedition into then-disputed territory in Oregon. He was able to authorize the Astor Expedition in 1810 to reclaim the fort, which was a crucial component of English/American claims of territory during that time.
Astor was also a fan of horse racing, having purchased an imported “Messenger” from England. The thoroughbred would become the founding sire for all Standardbred horses in the United States to this day.
The Astor family declined in America after the 20th century, but their influence was felt in the UK. In fact, English descendents of the family hold hereditary peerages of viscount and baron.
About the Author: Phineas Upham is an investor at a family office/ hedgefund, where he focuses on special situation illiquid investing. Before this position, Phin Upham was working at Morgan Stanley in the Media and Telecom group. You may contact Phin on his Phineas Upham website or LinkedIn page.
Leave a Reply
You must be logged in to post a comment.