Common Sense

1923 - Nine of the World's richest men

By Rick Yohn In 1923, nine of the world's most "successful" financiers met in Chicago's Edgewater Beach Hotel. From an outsider's perspective, they had everything a man could want - money, high position, fame and power.

This impressive group included:

1. Charles Schwab, the president of the largest steel company.

2. Samuel Insull, the president of the largest electric company.

3. Howard Hopson, the president of the largest gas company.

4. Arthur Cutten, the greatest wheat speculator.

5. Richard Whitney, the president of the New York Stock Exchange.

6. Albert Fall, the Secretary of Interior in President Harding's Cabinet.

7. Jesse Livermore, the greatest "bear" on Wall Street.

8. Ivar Kreuger, head of the world's greatest monopoly.

9. Leon Fraser, president of the Back of International Settlements.

But were these men truly successful and happy? They were successful in making money, but not very successful in living a meaningful life. Within twenty-five years each man had reaped what he had sown.

1. Charles Schwab was forced into bankruptcy and lived the last five years before his death on borrowed money.

2. Samuel Insull not only died in a foreign land, a fugitive from justice, but was penniless.

3. Howard Hopson was insane.

4. Arthur Cutten became insolvent and had died abroad.

5. Richard Whitney had just been released from Sing Sing prison.

6. Albert Fall was pardoned from prison so he could die at home - broke.

7. Jesse Livermore committed suicide.

8. Ivar Kreuger also committed suicide.

9. Leon Fraser also committed suicide.

Each man knew how to make a living but none had learned how to live successfully. How did nine successful businessmen with so much talent and ambition, finish so poorly? (Read 1 Corinthians 9:24-27

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