Though his name and wealth have since been lost to time, during the mid-to-late 19th century, almost everyone had heard of Stephen Girard, the richest man in the United States and the world for that matter!
Early Life
Though he would one day become the richest man in the world, Girard didn’t grow up in the lap of luxury. Born as the eldest son to Pierre Girard, a common sailor, and his wife Anne, on May 21 1750 in the French port city of Bordeaux, a young Stephen’s life was fairly typical for a boy of his age and social standing.
Having no formal education to speak of – that was reserved solely for France’s wealthiest people, typically the nobility – Stephen’s education came primarily from his parents, who despite similarly having no formal education, did their best to educate their nine children, including Stephen.
A keen student, Stephen particularly enjoyed learning about navigating the sea from his father, often getting hands-on experience as both Stephen’s father and grandfather were sailors – almost making it a family profession.
It was here where Stephen Girard learned to love the sea that would one day make him a fortune!
Though historians disagree whether Stephen Girard was born with sight in his right eye or not, it became clear when Girard was eight years old that he couldn’t see out of it.
But it wasn’t just that he couldn’t see out of it. His eye began to swell and quickly became a repulsive looking abnormality that would lead to him being ridiculed and ostracized from French society.
To make matters worse, Girard’s mother died in April 1762 and his father was promoted to captain of a small vessel meaning that he was often away from home. This left Stephen very much isolated from people – even his own siblings.
Merchant
As with most young boys of his era, Stephen found a job at a relatively young age.
Finding work as a cabin boy on board a vessel based in New York at the age of 10, Stephen primarily transported goods like sugar and coffee up and down the East Coast of the modern-day US, and as far south as the French holdings in the Caribbean.
Quickly proving adept at navigating the sea and controlling his crew, Stephen was gradually given more and more responsibilities, before being granted control of his own ship, known as Sally, in 1773.
A fully licensed captain in the French Maritime Marine at only 23 years old, Girard was soon making hundreds of thousands of dollars by today’s standards transporting goods from the East Coast to the Caribbean.
It was these early business deals that taught a young Stephen Girard business lessons that he’d rely on for the rest of his life. Most importantly, he never forgot the mistakes he made as a merchant, which saved him millions of dollars down the road…
In 1774, Girard expanded
Arrival in America
Girard Bank
War of 1812
Death
Legacy
How Can I Replicate What Stephen Girard Did?
What Can we Learn From Stephen Girard?
Plans Always go Awry
You Don’t Need to be Born Rich to Become Rich
Although it’s a contentious issue today – whether or not you need to be born into at least some wealth to become a billionaire – Stephen Girard is clearly proof that you don’t need to be born rich to become rich.
In other words, his life is very much a rags-to-riches story, and was one of those stories used to attract people from various European countries (primarily France and Germany) to immigrate to the newly-independent United States.
Always Give Back
As the richest man of his time, especially in a time before it was expected that the rich would use their money to help people, Stephen Girard would’ve been totally justified sitting in his ivory tower and enjoying his money.
Yet Stephen didn’t do that.
Instead, he chose to use his money for good after he was gone, bequeathing all of his money to charity
Education is Key
Has the story of Stephen Girard inspired you? Tell me how in the comments!
