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Today in History: John Jacob Astor establishes American Fur Company, becomes first millionaire

4/6/2026

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Summary

Story summary

On April 6, 1808, John Jacob Astor founded the American Fur Company, which quickly became a dominant force in the fur trade. This venture significantly boosted his wealth, ultimately making him the first multi-millionaire in the United States. Astor's success laid the foundation for the Astor family's prominence in American business.

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Story summary

On April 6, 1808, John Jacob Astor founded the American Fur Company, which quickly became a dominant force in the fur trade. This venture significantly boosted his wealth, ultimately making him the first multi-millionaire in the United States. Astor's success laid the foundation for the Astor family's prominence in American business.