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Bernard Baruch advised American presidents on economic matters for over 40 years. These ranged from Woodrow Wilson to John F. Kennedy and in his later years Baruch was highly regarded as an elder statesman. He was described as a man of immense charm who enjoyed a larger-than-life reputation that matched his considerable fortune.
Bernard Baruch was born in Camden, South Carolina on Friday August 19, 1870 to Simon and Belle Baruch, the second of four sons, his father was a German immigrant who came to America in 1855 to avoid conscription in the Prussian army and became a field surgeon on the staff of Robert E. Lee for the Confederate army during the Civil War.
In 1881 the family moved to New York CitySkyline, with Statue of Liberty New York, New York" redirects here. For alternate meanings, see New York, New York (disambiguation). New York — officially named City of New York and often called New York City to distinguish it from the state of New York, and in 1889 he graduated from the City College of New YorkCity College of New York was originally founded as the Free Academy of the City of New York in 1847. It was subsequently named the College of the City of New York but that name was later transferred to the complex of the municipally-owned colleges in New. His first job was as an office boy earning $3.00 a week.
He eventually became a broker and then a partner in the firm of A. Housman and Company. With his earnings and commissions he was eventually able to buy a seat on the New York Stock ExchangeThe New York Stock Exchange NYSE is one of the largest stock exchanges in the world. The NYSE is operated by the not-for-profit corporation New York Stock Exchange, Inc, with its main building located at 18 Broad Street, at the corner of Wall Street, in N.
He amassed a fortune in stock market speculation before the age of 30.
In 1903 he had his own brokerage firm and gained the reputation of "The Lone Wolf on Wall Street" because of his refusal to join any other financial house.
By 1910 he had become one of Wall Street's financial leaders.
During World War IWorld War I (also known as the First World War , the Great War the War of the Nations and the "War to End All Wars") was a world conflict occurring from 1914 to 1918. No previous conflict had mobilized so many soldiers, or involved so many in the field of he advised President Woodrow Wilson on national defense and in 1918 he became the chairman of the War Industries BoardThe War Industries Board (WIB) was an organization established by the United States on July 28, 1917 and reorganized in 1918 under the leadership of Bernard M. It encouraged companies to use mass-production techniques to increase efficiency and urged them.
After the war he was with President Wilson at the Versailles Peace Conference.
He was a member of the "Brain Trust" in President Franklin Delano RooseveltFranklin Delano Roosevelt Order 32nd President Term of Office March 4, 1933 April 12, 1945 Predecessor Herbert Hoover Successor Harry S. Truman Date of Birth January 30, 1882 Place of Birth Hyde Park, New York Date of Death April 12, 1945 Place of Death W's " New Deal"
As the "Storm Clouds" of World War II approached he proposed a number of economic measures including:
After the Japanese Attack on Pearl Harbor he was called upon by President Franklin Delano Roosevelt to help with the United States war effort.
He was offered the post of Treasury Secretary by President Franklin Roosevelt but he declined in favor of remaining in the role of an unofficial adviser.
In 1946 he was appointed the United States representative to the United Nations Energy Commission by President Harry S . Truman. On Friday June 14, 1946 he Presented the Baruch Plan to the UNAEC. This plan proposed international control of Atomic Energy.
He was an adviser on international issues until his death on Sunday June 20, 1965 in New York City at the age of 94.
His grave is at Flushing Cemetery, Flushing, Queens County, New York , USA