Edison's experiment was not a cheap one, infact he had his project run by investors. His primary investor was J.P. Morgan, one of the richest people to have ever lived. J.P. Morgan believed that electricity would effect companies and help them become very prosperous. He believed that electricity was the key to bringing the economy back and to see it thrive.
J.P. Morgan had seen some of Edison's work and was very impressed. He decided that it was a good idea and made a very large investment. It was his investment that fueled Edison's work and helped him to accomplish everything that he set out to accomplish. J.P. Morgan's company was also one of the first to get the power from the Pearl Street Station. He was in the square mile that would get the first power from pearl street. This was also one of the reasons that he was such a heavy investor.
When all of the experimenting was done, and a final product was produced, and it was time for Edison to create a company that would supply the the electricity and everything that came with it. The Edison General Electric company was what became of it. J.P. Morgan was a major investor in this also, investing over two-million dollars in it. He also was involved in creating six different companies along with Edison's. Because of the amount of money that he had invested into Edison General Electric, he had much say in where the company was headed. He helped merge the company with some of the other companies that were around at the time. One of the biggest merges that he was involved with was with Thomas-Huston merger. During the merge, Edison's name was erased from General Electric, and this was the first move from J.P. Morgan away from the inventor. Soon J.P. Morgan would have complete control over Edison and everything would soon move out of Edisons power.
J.P. Morgan had seen some of Edison's work and was very impressed. He decided that it was a good idea and made a very large investment. It was his investment that fueled Edison's work and helped him to accomplish everything that he set out to accomplish. J.P. Morgan's company was also one of the first to get the power from the Pearl Street Station. He was in the square mile that would get the first power from pearl street. This was also one of the reasons that he was such a heavy investor.
When all of the experimenting was done, and a final product was produced, and it was time for Edison to create a company that would supply the the electricity and everything that came with it. The Edison General Electric company was what became of it. J.P. Morgan was a major investor in this also, investing over two-million dollars in it. He also was involved in creating six different companies along with Edison's. Because of the amount of money that he had invested into Edison General Electric, he had much say in where the company was headed. He helped merge the company with some of the other companies that were around at the time. One of the biggest merges that he was involved with was with Thomas-Huston merger. During the merge, Edison's name was erased from General Electric, and this was the first move from J.P. Morgan away from the inventor. Soon J.P. Morgan would have complete control over Edison and everything would soon move out of Edisons power.