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The Story of Jeremiah G. Hamilton, Wall Street's First Black Millionaire

Many may not know the story of Jeremiah G. Hamilton, Wall street’s first Black millionaire. Depending on the source, Hamilton’s 40-year Wall Street legacy is either frowned upon because of his alleged dishonest business practices or admired for his creative business acumen in a time where a Black man prospering on Wall Street seemed impossible. What is undisputed is that Hamilton died in 1875 as the richest Black man in the United States with a $2 million estate that would be equivalent to about $250 million today , according to Shane White, author of “Prince of Darkness: The Untold Story of Jeremiah G. Hamilton, Wall Street’s First Black Millionaire.” Twitter At the age of 20, Hamilton first made his mark on the financial world via a counterfeit coin scam where he transported a freight of fake coins from Canada to Haiti in order to sell them to New York businessmen, according to The Atlantic. When Haitian authorities caught wind of Hamilton’s counterfeit ring they issued a $300...

Mar 30, 2020