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BackStory

249: Who Wants to be a Millionaire? The History of America’s Wealthy Elite

BackStory

BackStory

History, Education

4.72.9K Ratings

🗓️ 14 September 2018

⏱️ 47 minutes

🧾️ Download transcript

Summary

It’s been ten years since the collapse of Lehman Brothers shook the world’s economy. Today Ed, Nathan and Brian explore the iconic figure of the American Millionaire, telling the story of one of the first African American Millionaires, delving into the ambiguities around Andrew Carnegie’s philanthropy, and finding out that there is more to the board game Monopoly than just rolling the dice and passing “Go.”

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Transcript

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0:00.0

Major funding for backstory is provided by an anonymous donor, the National Endowment

0:04.7

for the Humanities, the University of Virginia, and the Robert and Joseph Cornell Memorial Foundation.

0:10.2

From Virginia Humanities, this is backstory.

0:16.0

Welcome to backstory, the show that explains the history behind today's headlines.

0:26.5

I'm Brian Balla.

0:27.8

I'm Ed Ayers.

0:28.8

And I'm Nathan Connolly.

0:30.6

If you're new to the podcast, we're all historians.

0:33.6

And each week we explore the history of one topic that's been in the news.

0:38.2

Brian and Ed, if I were to ask you to name famous millionaires from the 19th century, who

0:43.4

would you say?

0:44.4

Well, first I'd ask you not to Nathan, but if I really had to answer the question, I'd

0:49.6

say John Jacob Astor, the real estate mogul.

0:52.4

I'd say Cornelius Vanderbilt, even his name sounds like a million bucks.

0:59.0

Well, that's right.

0:59.9

Now, those two are both famous white millionaires, but what if I told you there was actually

1:04.1

someone else, someone just as successful, who belongs in the same breath as a Vanderbilt

1:08.6

Ornaster?

1:10.2

His name is Jeremiah Hamilton.

1:13.4

And he happens to be one of the first African-American millionaires in history.

1:17.7

He amassed his wealth in the 19th century in New York City.

1:20.8

And he was a brilliant businessman.

...

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