Daniel Guggenheim (July 9, 1856 – September 28, 1930) was an American mining magnate and philanthropist, and a son of

Meyer Meyer may refer to: People *Meyer (surname), listing people so named * Meyer (name), a list of people and fictional characters with the name Companies * Meyer Burger, a Swiss mechanical engineering company * Meyer Corporation * Meyer Sound Labo ...

and Barbara Guggenheim. By 1910 he directed the world's most important group of mining interests. He was forced out in 1922 and retired to philanthropy to promote aviation. His achievements include a system for innovation, as well as leadership in amicable labor relations, and major roles in aviation and rocketry.

Biography

Guggenheim was born and raised in Philadelphia, the son of

Meyer Guggenheim Meyer Guggenheim ( , ; February 1, 1828 – March 15, 1905) was the patriarch of what became known as the Guggenheim family in the United States, which became one of the world's wealthiest families during the 19th century, and remained so during t ...

and his wife Barbara. Meyer Guggenheim was of Jewish descent. Daniel Guggenheim was sent to

Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...

as a young man to study the Swiss lace and embroidery business, and to serve as a buyer for his father's import firm. The discovery of high-grade silver-lead ore in the Guggenheim mines in

Leadville, Colorado The City of Leadville is a List of municipalities in Colorado#Statutory city, statutory city that is the county seat, the most populous community, and the only List of municipalities in Colorado, incorporated municipality in Lake County, Colorad ...

, in 1881 became the foundation for the Guggenheim fortune in mining. In 1884, Daniel returned to the US to help manage the family's booming mining and smelting business. Daniel helped to establish the Guggenheim mining and smelting business in Mexico, which by 1895 was earning profits of $1 million a year. In 1891 his father, Meyer, consolidated about a dozen of the family’s mining operations into the Colorado Smelting and Refining Company. The Guggenheim family then entered a lengthy struggle with the

American Smelting and Refining Company Asarco LLC (American Smelting and Refining Company) is a mining, smelting, and refining company based in Tucson, Arizona, which mines and processes primarily copper. The company has been a subsidiary of Grupo México since 1999. Its three large ...

(ASARCO), backed by the Rockefeller family. By 1901 the Guggenheims had acquired control of ASARCO, and became the dominant force in the mining industry for the next three decades. Daniel was named chairman of the board of ASARCO, and directed the trust until 1919. Following his father's death in 1905, Daniel assumed control of the Guggenheim family enterprises. Through ASARCO,

Kennecott Copper Kennecott Utah Copper LLC (KUC), a division of Rio Tinto Group, is a mining, smelting, and refining company. Its corporate headquarters are located in South Jordan, Utah. Kennecott operates the Bingham Canyon Mine, one of the largest open-pit co ...

and other family-owned companies, the Guggenheims mined tin in Bolivia, gold in the Yukon, diamonds and rubber in the Belgian Congo, diamonds in Angola, and copper in Alaska, Utah, and Chile. Daniel Guggenheim's business policies affected entire nations. "It was said that Daniel could make or break a government with a telegram," his biographer John H. Davis wrote. Daniel was power hungry and tenacious. He suffered repeatedly with stomach ulcers and hypertension. The Guggenheim family amassed enormous wealth through their mining enterprises. By 1918, the family fortune was estimated at $250 million to $300 million, making them among the richest people in the world. Daniel was a member of the National Security League, the driving force for moving the then-neutral USA into World War I, which was headed by

J.P. Morgan JP may refer to: Arts and media * ''JP'' (album), 2001, by American singer Jesse Powell * ''Jp'' (magazine), an American Jeep magazine * ''Jönköpings-Posten'', a Swedish newspaper * Judas Priest, an English heavy metal band * ''Jurassic Park ...

. Long-simmering family disagreements reached a climax in 1922, when the older Guggenheim brothers were accused of milking ASARCO, which they controlled, for the benefit of their family business, Guggenheim Brothers. The ASARCO board then voted the brothers out of control. After other family disagreements and business setbacks, Daniel retired in 1923 at the age of 67.

Personal life

On July 22, 1884, he married Florence Shloss; they had three children:

Meyer Robert Guggenheim Meyer Robert Guggenheim (May 17, 1885 – November 16, 1959) was an American diplomat and a member of the prominent Guggenheim family. Born in New York City, he was the son of Daniel Guggenheim (1856–1930), brother of Harry Frank Guggenheim, a ...

; Harry Frank Guggenheim; and Gladys Eleanor Guggenheim Straus. He died on September 28, 1930, at his palatial home, Hempstead House, in Port Washington, New York. He was 74.

Aviation

During WWI, Daniel's son Harry Guggenheim became a pilot and both became avid supporters of aviation technology. In the 1920s they established the Daniel Guggenheim Medal for achievement in

aeronautics Aeronautics is the science or art involved with the study, design, and manufacturing of air flight–capable machines, and the techniques of operating aircraft and rockets within the atmosphere. The British Royal Aeronautical Society identifies ...

and provided grants via the Daniel Guggenheim Fund for the Promotion of Aeronautics for aeronautics research at California Institute of Technology, Princeton University,

Georgia Institute of Technology The Georgia Institute of Technology, commonly referred to as Georgia Tech or, in the state of Georgia, as Tech or The Institute, is a public research university and institute of technology in Atlanta, Georgia. Established in 1885, it is part of ...

, Harvard University, Massachusetts Institute of Technology, New York University, Northwestern University,

Stanford University Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is consider ...

Syracuse University Syracuse University (informally 'Cuse or SU) is a Private university, private research university in Syracuse, New York. Established in 1870 with roots in the Methodist Episcopal Church, the university has been nonsectarian since 1920. Locate ...

, the University of Akron, the University of Michigan, and the University of Washington. Foundation moneys funded the Guggenheim Aeronautical Laboratories at Caltech (GALCIT) and the Guggenheim Aerospace Propulsion Laboratories at Princeton University. In 1927 he offered a $100,000 main prize and five $10,000 prizes for the "Guggenheim Safe Aircraft Competition", which required entered aircraft to be stable in rough air, land in 500 feet and take off in 300 feet, both over a 35-foot obstacle and be able to sustain flight at 35 mph, and 38 mph with the power off. 15 aircraft were entered of which only two, the American Curtiss Tanager and the British Handley Page Gugnunc met the requirements. The Curtiss Tanager was awarded as the winner in dubious circumstances, and then Handley Page sued Curtiss for unlicensed use of Handley Page slats, and worse, neither of the finalists saw production or service afterwards; however, indirectly, the competition influenced designers in building safer aircraft.

Alaska

Guggenheim sparked controversy in the district of Alaska from 1906 onward. He was approached by

Stephen Birch Stephen Birch (1873–1950) was the President of the Kennecott Copper Company. Early life Birch was born in New York City on March 24, 1873. He was the second son out of six children. His father was a Union Army sergeant who died when Steph ...

, a wealthy miner with ambitions for the development of Alaska and its railroads, in regards to financing Birch's developing copper claims. Guggenheim and his brother formed a

gentlemen's agreement A gentlemen's agreement, or gentleman's agreement, is an informal and legally non-binding agreement between two or more parties. It is typically oral, but it may be written or simply understood as part of an unspoken agreement by convention or th ...

with Birch to form the Alaska Syndicate, which purchased just under half of the stock in Birch's company and all of the stock in the

Copper River and Northwestern Railway The Copper River and Northwestern Railway (CR&NW) consisted of two rail lines, the Copper River line and the Northwestern line. Michael James Heney had secured the right-of-way up the Copper River in 1904. He started building the railway from Co ...

. All of this sparked an "anti-Guggenheim" movement which was integral in political elections and appointments of 1908 in Alaska.

References

External links

* ttp://www.mininghalloffame.org/inductee/guggenheim National Mining Hall of Fame Inductee Biobr>Daniel and Harry Guggenheim – Supporters of Aviation TechnologyDaniel Guggenheim Medal recipients
{{DEFAULTSORT:Guggenheim, Daniel 1856 births 1930 deaths American mining businesspeople Central High School (Philadelphia) alumni Jewish American philanthropists American people of Swiss-Jewish descent Harvard University people Daniel Guggenheim Businesspeople from Philadelphia Asarco People from Port Washington, New York Philanthropists from New York (state) American businesspeople in metals