Jamess Jerome Hill Canadian-American railroad tycoon Date of Birth: 16.09.1838 Country: USA

Biography of James Jerome Hill

James Jerome Hill, a Canadian-American railroad magnate, was born on September 16, 1838, in Eramosa, Ontario, Canada. Despite losing vision in his right eye due to an accident during childhood, Hill excelled academically and attended Rockwood Academy, a private school for boys, on a scholarship. In 1852, his father passed away, forcing Hill to leave school. However, his exceptional skills in English and mathematics would later play a crucial role in his life.

At the age of 18, Hill decided to settle permanently in the United States. He moved to Minnesota and became an accountant for a steamship company. By 1860, Hill was responsible for wholesale grocery shipments and had gained extensive knowledge of cargo transportation by water and rail. During this time, he took the risk of working for himself and successfully secured contracts for various goods, which brought him significant profits. His previous experience helped him establish a presence in the steamship freight market and the coal fuel market.

By 1879, at the age of 40, Hill had become a local monopoly in anthracite mining, acquired steamship companies, and served on the board of directors of several major banks. He realized that the future of freight transportation lay in railroads. During the economic crisis of 1873, several local railroad companies went bankrupt. This presented an excellent opportunity for the enterprising Hill, who sought additional investors, acquired the bankrupted companies, and significantly expanded them by acquiring rights to the Northern Pacific Railway network.

In May 1879, Hill became the general manager of the entire enterprise, with his main task being the expansion of holdings, modernization of equipment, and the suppression of competitors. Hill personally led expeditions to find the optimal routes for new rail lines. Under his leadership, the company thrived, and Hill's personal fortune increased from $728,000 to $25 million in just five years.

In January 1893, Hill became the owner of the first transcontinental railroad, which he had tirelessly built, overcoming various obstacles such as government restrictions, clashes with Native Americans, and geological difficulties in the Rocky Mountains. By the beginning of the new century, he had fully established his empire. At the time of his death in 1916, James J. Hill's fortune exceeded $53 million, which would have been nearly $2.5 billion in 2007.

In 1867, Hill married Mary Theresa Mehegan, a native of New York, who was eight years younger than him. The couple had ten children, seven daughters (one of whom died in infancy), and three sons. Politically, Hill belonged to the conservative Democrats. As he became wealthy, he became an avid art collector and patron. A significant portion of his outstanding collection was later donated to the Minneapolis Institute of Arts.

James Jerome Hill, the railroad magnate, passed away on May 29, 1916, at the age of 77, in his home in St. Paul, Minnesota. His wife survived him by six years and was buried next to him on the shores of Lake Plizan at their family farm. Later, their graves were relocated to a city cemetery. Hill is considered to have served as the prototype for Nathaniel Taggart in Ayn Rand's novel "Atlas Shrugged."