The Money Kings: The Epic Story of the Jewish Immigrants Who Transformed Wall Street and Shaped

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The incredible saga of the German-Jewish immigrants—with now familiar names like Goldman and Sachs, Kuhn and Loeb, Warburg and Schiff, Lehman and Seligman—who profoundly influenced the rise of modern finance (and so much more), from the New York Times best-selling author of Sons of Wichita

Joseph Seligman arrived in the United States in 1837, with the equivalent of $100 sewn into the lining of his pants. Then came the Lehman brothers, who would open a general store in Montgomery, Alabama. Not far behind were Solomon Loeb and Marcus Goldman, among the “Forty-Eighters” fleeing a Germany that had relegated Jews to an underclass.

These industrious immigrants would soon go from peddling trinkets and buying up shopkeepers’ IOUs to forming what would become some of the largest investment banks in the world—Goldman Sachs, Kuhn Loeb, Lehman Brothers, J. & W. Seligman & Co. They would clash and collaborate with J. P. Morgan, E. H. Harriman, Jay Gould, and other famed tycoons of the era. And their firms would help to transform the United States from a debtor nation into a financial superpower, capitalizing American industry and underwriting some of the twentieth century’s quintessential companies, like General Motors, Macy’s, and Sears. Along the way, they would shape the destiny not just of American finance but of the millions of Eastern European Jews who spilled off steamships in New York Harbor in the early 1900s, including Daniel Schulman’s paternal grandparents.

In The Money Kings, Schulman unspools a sweeping narrative that traces the interconnected origin stories of these financial dynasties. He chronicles their paths to Wall Street dominance, as they navigated the deeply antisemitic upper class of the Gilded Age, and the complexities of the Civil War, World War I, and the Zionist movement that tested both their burgeoning empires and their identities as Americans, Germans, and Jews.

Our Top Reviews

Reviewer: DG
Rating: 5.0 out of 5 stars
Title: True Story
Review: It’s a little dry, because it is so ‘factual’ … it tells the true story of how the Jews arrived in America penniless but with brilliant minds. They all became billionaires. It’s fascinating worth reading. DG

Reviewer: Jen Naughton
Rating: 4.0 out of 5 stars
Title: Little known history
Review: In “The Money Kings,” author Daniel Schulman tells the fascinating story of the German-Jewish immigrants who made their mark on Wall Street and shaped the course of modern corporate finance. The book explores their impact on the world of IPOs, their philanthropic contributions, and the complex attitudes towards Jews and antisemitism in the United States.One of the strengths of this book is its ability to shed light on a little-known aspect of American history. Schulman’s thorough research and engaging writing style make for a compelling read, and his exploration of the complex attitudes towards Jews and antisemitism in the United States provides valuable insight into this complex and often contentious topic.Overall, “The Money Kings” is a must-read for anyone interested in the history of finance, the experience of Jewish immigrants in America, or the complex dynamics of antisemitism in the United States. Schulman’s illuminating work adds an important perspective to the conversation about the history of finance and the experiences of Jewish people in America. With its deep insight and engaging writing style, “The Money Kings” is a valuable addition to the literature on this subject.

Reviewer: Martin Stevens
Rating: 5.0 out of 5 stars
Title: My little-known ancestors
Review: I really enjoyed this well-researched and well-written book that explained many details about my forebears on my mother’s side of the family as well as the New York milieu in which they worked and lived. My mother’s maiden name was Seligman and while growing up I had heard a little about my great-great- grandfather Isaac, my great-great Uncle Joseph and his siblings who had emigrated to the USA from the small town of Beiersdorf near Nurenburg in the 1830’s and 40’s. Isaac was one of the few to emigrate from the USA to the UK – most went in the opposite direction, but he was tasked with founding the London branch of J&W Seligman which was taken over by his son Charles, my great-grandfather. My grandfather Douglas was expected to continue running the bank but he declined and bought a farm near Winchester after shocking his family by marrying my grandmother Bridget, a gentile.I’m writing this in Peru where I live, and as I understand it, where J&W Seligman underwrote railroad construction over a centuary ago. Please see my autobiographical book ‘Long Road to Chavin’ (Amazon 2018) in which I discuss my family and how I wound up living in Peru.I always remember my grandfather telling me about two Seligman uncles who had the contract to paint the Brooklyn bridge, with job security; for as soon as they finished one end they had to start all over where they began. As a child I always imagined two old gentlemen in paint-spattered overalls but now I realize they probably wore silk top hats and never touched actual paint themselves.

Reviewer: Highly Pleased!!!
Rating: 5.0 out of 5 stars
Title: Money & America!
Review: How did America come out of its very First depression “The Civil War” or the 2nd depression of the 1920’s? How didthis economy survive to this verymoment, and where did all thisHelp come from, You ought toknow, Right? Please find outbefore Your Kid’s ask Youor Your neighbour’s!!!!!Highly interesting in deed!!!!!

Reviewer: T. L. Silverman
Rating: 5.0 out of 5 stars
Title: Should be added to all American history reading lists!
Review: This is a thoroughly researched engrossing read about America’s financial beginnings. Daniel Schulman writes in an intelligent, engaging voice weaving narrative throughout, bringing these real life characters alive and giving them personality. This book should be included in any American history course as the information inside is critical to understanding our nation’s economic foundation and development. Daniel explores themes of how the Money Kings shaped Wall Street while dealing with blatant antisemitism. They are truly the realization of the American dream coming from nothing, working hard, fighting discrimination, and becoming Kings. Highly recommend!

Reviewer: Renee Mizrahi
Rating: 5.0 out of 5 stars
Title: a great history of Jewish financiers, charity and antisemitism
Review: An excellent, extremely well researched and very interesting history of Jewish financiers of the twentieth century. their political and global dealings in trying to right the wrongs done to the Jewish people and the important charities they helped create, as well as a history of the rampant antisemitism and propaganda and other falsehoods that targeted them and Jews in the US.I highly recommend this fascinating book.

Reviewer: Stephen Benold
Rating: 5.0 out of 5 stars
Title: History Behind the History
Review: A detailed look at American history through the eyes of the behind-the-scenes men who steered what happened from the post civil war era to the Depression. It probably could have been about half as long.

Reviewer: isaac
Rating: 2.0 out of 5 stars
Title: Boring
Review: Boring

Reviewer: Ivan Cohen
Rating: 5.0 out of 5 stars
Title:
Review: This is an excellently-written and researched books on the handful of Jewish families which left Germany and ended up ‘making’ Wall Street: from being peddlers in their early days, these families established the famous names (especially of investment banks) which sit atop the Wall Street mountain.Since the financial crisis of 2007–2008 some have gone the way of all things, while others continue to grow and develop, but not as family businesses. This book gives insights into the families which are behind the faceless modern banking monoliths, and their individual journeys.

Price effective as of Apr 07, 2025 21:18:22 UTC

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