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Marcus SamuelBritish businessman, founder of 'Shell Transport and Trading Company'
Date of Birth: 05.11.1853
Country:  Great Britain |
Content:
Biography of Marcus Samuel
Marcus Samuel, also known as Sir Marcus Samuel, 1st Baronet and later Lord Bearsted, was a British businessman and the founder of the Shell Transport and Trading Company, the predecessor of the Royal Dutch Shell conglomerate. He was born on November 5, 1853, into a Jewish family in the Whitechapel district of London.
Early Years and Family Business
Marcus Samuel's father, also named Marcus Samuel, managed a successful import-export company called M. Samuel & Co., specializing in trade with the Far East. Marcus Jr. and his younger brother Samuel Samuel took over the business operations. During a trip to the Black Sea in 1890, Marcus recognized the immense potential of the oil trade and ordered the construction of eight oil tankers. The first of these tankers was the Murex, commanded by Captain John R. Coundon. These tankers were the first of their kind to meet the safety requirements of the Suez Canal Company, allowing Marcus to deliver his oil products to destinations such as Bangkok and Singapore.
Establishing Shell
In 1897, Marcus Samuel founded the Shell company, named after his original business selling painted seashells. In 1898, he was knighted for his assistance in rescuing the British warship Victorious, which had run aground and was saved with the help of two Shell company tugs. In 1907, Samuel's company merged with the Royal Dutch company from the Netherlands, giving rise to the company known today as Royal Dutch Shell.
Later Life and Legacy
In addition to his business success, Marcus Samuel served as the Lord Mayor of London from 1902 to 1903 and was granted the title of baronet in 1903. As a recognition of Shell's contributions to the United Kingdom during World War I, he became the 1st Baron Bearsted of Maidstone in the County of Kent in 1921. In 1925, he was elevated to the position of 1st Viscount Bearsted. Lord Bearsted also received an honorary Doctor of Laws degree from the University of Sheffield.
After his death, his country estate, The Mote, in Maidstone, was sold to the Maidstone City Council and transformed into a public park known today as Mote Park. The house has served various purposes over the years, including a children's shelter, a nursing home for the elderly, and was requisitioned by the British Army during World War II. Currently, it houses a retirement home.
Marcus Samuel's son, Walter Horace Samuel, succeeded him as both the heir to his titles and the chairman of the Shell Transport and Trading Company.
