8. John Hopkins was the ultimate self-made American man who became one of the country’s great philanthropists, giving us universities, hospitals and more
The name John Hopkins is known right around the world. But the Maryland native is hardly remembered for his business acumen, nor his entrepreneurial spirit. Rather, he is remembered for his philanthropy. Indeed, while Hopkins might have been one of the best business minds of 19th century America, it was his willingness to give money away rather than his ability to make it which is his ultimate legacy.
It all might have been so different, however. For a while, it looked like Hopkins would simply work in the family business. At the age of 17, he moved to Baltimore to work for his uncle in his grocery store. However, the two men fell out and Hopkins decided to go into business for himself. He set up his own wholesale firm and then invested his money in a range of enterprises. Above all, his investment in the booming railroad industry helped make him a fortune. In 1847, Hopkins retired from work at the age of just 52.
Though he had always been a charitable man himself, his friendship with George Peabody – cited as the father of modern philanthropy – inspired Hopkins to put money back into the city he loved. He gave money to a range of causes during his lifetime. And then after his death in 1873, he bequeathed more than $10 million (a fortune in those days) to medicine and education. His bequests led to the establishment of the world-famous John Hopkins Hospital, the School of Nursing and what is now known as the John Hopkins Bloomberg School of Public Health.