The country boasts 10 major financial groups: the Rockefeller Group, the Morgan Group, the First Citibank Group, the DuPont Group, the Boston Group, the Mellon Group, the Cleveland Group, the Chicago Group, the California Group, and the Texas Group. These 10 wealthy conglomerates all went through initial wealth accumulation, capital penetration, industry monopoly, and business expansion before gradually forming their current immense wealth.
For example, the Rockefeller Group, one of the most powerful financial groups in the United States, was founded in 1863 by John Davidson Rockefeller. It initially opened an oil refinery in Cleveland, and in 1870 formed the Ohio Standard Oil Company, quickly monopolizing the state's oil industry and reaping enormous profits. Subsequently, it continuously controlled financial institutions, extending its influence to all sectors of the national economy. Before the 1970s, the Rockefeller Group's position in the country was consistently lower than that of the Morgan Group, but it later rose to the top of the financial group rankings, and now it is on par with the Morgan Group.
The Morgan financial group, including publicly listed companies and those seeking IPOs in the United States, should be very familiar with the name Morgan. Founded by J.P. Morgan in the late 19th and early 20th centuries, the Morgan financial group, as a monopolistic capital group, dominated the economy of the United States. In 1871, J.P. Morgan, building on the assets of his father J.S. Morgan, partnered with others to establish Drexel-Morgan & Co., primarily engaged in investment and credit banking. In 1895, Drexel-Morgan & Co. was renamed J.P. Morgan & Co., and the company began to expand its business into finance, steel, railways, public utilities, and other economic sectors, gradually forming a monopolistic financial group.
The First Citibank Consortium is one of the top ten consortia in the State of the Banner, a major consortium that emerged in eastern China after World War II. Although relatively young, its assets have surpassed those of several established consortia, placing it among the top ten consortia in the State of the Banner. As its name suggests, the First Citibank Consortium is headquartered at First Citibank, leveraging the bank's vast capital to expand into the military industry (rocket, missile, aircraft, etc.) and civilian industries (electronics, chemicals, oil, non-ferrous metals, etc.), gradually gaining control of a large number of major enterprises and corporations in the State of the Banner. Furthermore, the First Citibank Consortium actively expands its business overseas, with Citibank's presence visible in many cities around the world.
The founder of the DuPont Group was DuPont Dennemour, a Frenchman of French descent who emigrated to the United States during the French Revolution. In 1802, DuPont Dennemour founded the DuPont Company in Wilmington, Delaware, and began trading in gunpowder. Through five generations of family effort, DuPont became a typical family trust (monopoly) in the United States. During World War I, DuPont's assets increased from $75 million before the war to $300 million in 1918, making it one of the largest monopolies in the United States at the time, and the DuPont Group began its rise. During World War II, the DuPont Group secured $21 billion in military contracts from the Pentagon and participated in the development of the atomic bomb after the war, greatly increasing its economic power and ranking fifth among the top ten conglomerates. However, in the 1960s, increased competition among conglomerates caused the DuPont Group to fall to ninth place.
The Boston Consortium, one of the top ten consortia in the Banner State, is also one of the oldest monopolistic consortia in the country. It was jointly founded in the 19th century by the Lowell, Lawrence, Adams, and Lodge families of the Boston area, along with the emerging Kennedy family. These families invested the enormous sums of money they had plundered from overseas colonies into commercial banks, insurance companies, and investment firms. They then used the funds from these financial institutions to invest in light industrial sectors such as textiles, leather, shoemaking, clothing, food, and chemicals. Due to the rapid development of these industries, by the early 20th century, these Boston families, centered around the First National Bank of Boston, had developed into the Boston Consortium. Furthermore, the families that made up the Boston Consortium intermarried for generations, ensuring that their wealth remained within the consortium.
The Mellon Group, one of the top ten financial groups in the State of the Banner, was founded in 1869 by Thomas Mellon and originated as a monopoly capital group in the State of the Banner. Centered around the Mellon family, the group owns the State Lead Company, a pillar industry that monopolized State lead production after 1910. Another important industrial pillar is the Gulf Oil Company, one of the largest oil monopolies in the State of the Banner. The Mellon Group also holds a significant position in the steel industry, owning four major steel companies: Armco Steel (shared with the Rockefeller and Cleveland Groups), National Steel (shared with the Cleveland Group), Wellington-Pittsburgh Steel, and Allegheny-Ludlum Industries. The Mellon Group is practically a steel industry conglomerate.
The Cleveland Group, formed in the early 20th century by the Eaton, Hannah, Humphrey, and Mather families, was centered in Cleveland, Ohio, the United States of America. As a major monopolistic financial group in the Midwestern United States, the Cleveland Group's business was primarily focused on basic industries. Starting with steel, it gradually expanded into rubber, railroads, and machinery manufacturing, owning or jointly owning Republic Steel, Lex Youngston Steel Plate & Pipe Company, Amcor Steel, and National Steel. After World War I, the Cleveland Group had developed into a large and influential conglomerate within the United States of America. However, in the late 1960s, the Cleveland Group's growth slowed, and its position began to decline.
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