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date: 16 February 2020

Guggenheim, Daniellocked

(09 July 1856–28 September 1930)
  • Thomas F. O’Brien

Extract

Guggenheim, Daniel (09 July 1856–28 September 1930), industrialist and philanthropist, was born in Philadelphia, Pennsylvania, the son of Meyer Guggenheim, a merchant, and Barbara Meyer. At age seventeen Daniel Guggenheim ended his formal education and joined the family lace business. For the next eleven years he worked as a lace buyer in Switzerland, the nation from which his father and grandfather had emigrated a quarter-century earlier. By the time Guggenheim returned to the United States, his father had begun to invest in lead and silver mines in Leadville, Colorado. Although initially leery of shifting the focus of their business to mining, the younger Guggenheim soon committed himself fully to the new venture and eventually assumed a leadership role among his brothers. The family firm, M. Guggenheim’s Sons, expanded its interests beyond mining, building the largest smelter in the world in Pueblo, Colorado. The shift in emphasis from extraction to the more technologically advanced smelting industry typified Daniel Guggenheim’s increasing commitment to technological innovation as a fundamental corporate strategy. International diversification became a second part of that plan, as the family interests spread beyond the borders of the United States....

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