Anthony Joseph Drexel Jr. (September 9, 1864 – December 14, 1934) was an American banker and philanthropist who was a close friend of

King Edward VII Edward VII (Albert Edward; 9 November 1841 – 6 May 1910) was King of the United Kingdom of Great Britain and Ireland and Emperor of India, from 22 January 1901 until Death and state funeral of Edward VII, his death in 1910. The second chil ...

Early life

Drexel was born on September 9, 1864, in

Philadelphia Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...

Anthony Joseph Drexel Anthony Joseph Drexel Sr. (September 13, 1826 – June 30, 1893) was an American banker who played a major role in the rise of modern global finance after the American Civil War. As the dominant partner of Drexel & Co. of Philadelphia, he founde ...

(1826–1893) and Ellen Rozet (1832–1891). He was one of nine children, including: Emilie Taylor Drexel, Frances Katherine Drexel, Mae E. Drexel, Sarah Rozet "Sallie" Drexel (the wife of

Alexander Van Rensselaer Alexander Van Rensselaer (October 1, 1850 – July 18, 1933) was an American philanthropist, sportsman and patron of Princeton University. A member of a prominent Philadelphia family, he played both tennis and cricket at high levels. Early life ...

), John Rozet Drexel, and George William Childs Drexel. His father was the founder of Drexel, Morgan & Co with

John Pierpont Morgan John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age. As the head of the banking firm that ultimately became know ...

in 1871 as his junior partner, who also founded

Drexel University Drexel University is a private research university with its main campus in Philadelphia, Pennsylvania. Drexel's undergraduate school was founded in 1891 by Anthony J. Drexel, a financier and philanthropist. Founded as Drexel Institute of Ar ...

in 1891. His maternal grandparents were John Roset and Mary Ann Laning. His paternal grandparents were Austrian-born American banker

Francis Martin Drexel Francis Martin Drexel (April 7, 1792 – June 5, 1863) was a Philadelphia (Pennsylvania, United States) banker and artist. He was the father of Anthony Joseph Drexel, the founder of Drexel University and the grandfather of Saint Katherine Drexel. ...

and Katherine Hookey.

Career

In 1878, Drexel began working for his father's firm, Drexel & Co. in Philadelphia, and was made a partner on January 1, 1890. He was a partner at Drexel until October 21, 1893, when he resigned at age 29 after 16 years of working and just four months after his father's death, from Drexel & Co. of Philadelphia, Drexel, Morgan & Co. of New York, and Drexel, Harjes & Co. of Paris. At the time, a close friend of his exclaimed to ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'', "He does not care to assume the cares and responsibilities which are attached to the business. He is a young man who is very fond of life in the society. His pleasures would have to be curtailed immeasurably were he to continue closely identified with the business his father established, and he does not care for the confinement and close application to which he would be subjected. He prefers to be free footed, and will withdraw. That is all there is to his action. It is said it has no significant whatsoever." Shortly thereafter, he bought one of the most valuable residences in Philadelphia, the Wilstach mansion at the northeast corner of 18th and Walnut Streets, for $175,000. In November of the same year, he also bought the steamer ''Avenel'' from W. P. Whitlock.

Lifestyle

After his father's death on June 30, 1893, Drexel decided to live in Europe. He lived in London on

Grosvenor Square Grosvenor Square is a large garden square in the Mayfair district of London. It is the centrepiece of the Mayfair property of the Duke of Westminster, and takes its name from the duke's surname "Grosvenor". It was developed for fashionable ...

and

Carlton House Terrace Carlton House Terrace is a street in the St James's district of the City of Westminster in London. Its principal architectural feature is a pair of terraces of white stucco-faced houses on the south side of the street overlooking St. James's Pa ...

for several years. While there, they were friends with

Clyde Fitch Clyde Fitch (May 2, 1865 – September 4, 1909) was an American dramatist, the most popular writer for the Broadway stage of his time (c. 1890–1909). Biography Born in Elmira, New York, and educated at Holderness School and Amherst College (c ...

, a successful and prolific dramatist. From 1915 until his death, however, he resided at the 68 rue de Bellechasse in

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. ...

as well as homes in the provinces, after his difficult divorce with his wife. In addition to his reputation as a lavish entertainer, he was known as a keen yachtsman and owned several famous yachts including ''Sayonara'' and ''Aloma''. He was a member of the

Philadelphia Club Philadelphia Club was founded in 1834 and is located at 13th and Walnut Streets in Center City, Philadelphia. It is the oldest city club in the United States and one of the oldest gentlemen's clubs. Notable members have included George Meade ...

, Rabbit Club, Racquet Club and

Corinthian Club The Corinthian Club is a private members club in Ingram Street, Glasgow, Scotland. It is accommodated in former bank building which, as Lanarkshire House, became the headquarters of Lanarkshire County Council. It is a Category A listed building. ...

in Philadelphia and the

Knickerbocker Club The Knickerbocker Club (known informally as The Knick) is a gentlemen's club in New York City that was founded in 1871. It is considered to be the most exclusive club in the United States and one of the most aristocratic gentlemen's clubs in t ...

, Union Club,

New York Yacht Club The New York Yacht Club (NYYC) is a private social club and yacht club based in New York City and Newport, Rhode Island. It was founded in 1844 by nine prominent sportsmen. The members have contributed to the sport of yachting and yacht design. ...

, and Turf and Field Club of New York.

Personal life

On September 14, 1886, he married Margarita "Rita" Armstrong (1867-1948), a daughter of John Armstrong of the Baltimore Armstrongs. Together, they had: * Anthony Joseph Drexel III (1887–1946), who married Marjorie Gould (1891–1955), a daughter of Edith Kingdon and

George Jay Gould George Jay Gould I (February 6, 1864 – May 16, 1923) was a financier and the son of Jay Gould. He was himself a railroad executive, leading the Denver and Rio Grande Western Railroad (DRGW), Western Pacific Railroad (WP), and the Manhatta ...

. * Margaretta Armstrong Drexel (1889-1952) who married Guy Finch-Hatton, 14th Earl of Winchilsea (1885-1939), in 1910 and was the mother of

Christopher Finch-Hatton, 15th Earl of Winchilsea Christopher Guy Heneage Finch-Hatton (2 August 1911 – 7 March 1950) was the 15th Earl of Winchilsea and 10th Earl of Nottingham. He acceded to the titles in 1939 on the death of his father, Guy Finch-Hatton, 14th Earl of Winchilsea. His mother ...

. *

John Armstrong Drexel John Armstrong Drexel (October 24, 1891 – March 4, 1958) was an American aviation pioneer who was a member of the prominent Drexel family of Philadelphia. Early life Drexel was a son of Anthony Joseph Drexel Jr. (1864–1934) and Margarita Arm ...

(1891-1958), an aviation pioneer. * Louis Clapier Norris Drexel (1896-1962) On May 25, 1917, Anthony and Margarita divorced after several years of separation and a bitterly contested trial. Drexel died of

uremic poisoning Acute kidney injury (AKI), previously called acute renal failure (ARF), is a sudden decrease in kidney function that develops within 7 days, as shown by an increase in serum creatinine or a decrease in urine output, or both. Causes of AKI are cl ...

in 1934, aged 70, while staying in New York at the Hotel Ambassador.

References

External links