Henry Flagler was a prominent figure in American business and finance, known for his role as a co-founder of Standard Oil and his development of the Florida East Coast Railway. Born in New York in 1830 to a Presbyterian minister father and Elizabeth Caldwell Morrison Harkness mother, Flagler was the eldest of five children.
Flagler began his career as a grain merchant in Bellevue, Ohio. He met John D. Rockefeller while working at this job and eventually formed a partnership with him to found Standard Oil. His half-brother Daniel left for Ohio to work at a store near Flagler’s grain business, where he made an unsuccessful attempt to manufacture salt. In 1867, Flagler joined Rockefeller in an oil company that eventually becae Standard Oil in 1870.
In 1883, Flagler purchased the Jacksonville, St Augustine & Halifax River Railroad which would eventually become the Florida East Coast Railway. He also bought his first parcel of St Augustine property which would become the site for the iconic Hotel Ponce de Leon. During this time period he also developed various railroads and hotels throughout Florida’s east coast including resorts such as Palm Beach and Miami Beach.
Flagler’s estate was worth an estimated $100 million dollars when he passed away in 1913, equivalent to more than $12.5 billion dollars today! As one of America’s wealthiest Gilded Age captains of industry and commerce, Flagler understood his obligation to society and used his wealth to create opportunities for others.
Despite passing away more than 100 years ago, Henry Flagler is still remembered as one of America’s foremost businessmen and philanthropists who had an immense impact on Florida’s development during the late 19th century.
Henry Flagler’s Contributions to Society
Henry Flagler was an American industrialist and a key figure in the development of Florida’s eastern coast. He is best known for his extensive work in developing the Florida East Coast Railway and transforming the state into a major tourist destination. Starting from Jacksonville, he built railroads up and down the east coast, connecting cities like St. Augustine and Miami. Flagler also developed hotels alog the coast, including Hotel Ponce de Leon in St. Augustine and The Breakers in Palm Beach. Through his work, Flagler was able to make Florida more accessible to tourists, resulting in an economic boom that greatly impacted the state.
The Estimated Net Worth of the Flagler Family
The Flagler family’s estimated net worth is approximately $12.5 billion dollars in today’s currency. This wealth was accumulated through the hard work of industrialist and philanthropist Henry M. Flagler, who made his fortune in the oil industry and real estate development in Florida during the late 19th century. His investments, along with those of his wife Mary Lily Kenan Flagler, were distributed through trusts after their deaths, allowing for the growth and preservation of their wealth over time. The Flagler family continues to control many businesses, properties, and investments troughout Florida, as well as significant investments in other states and countries.
Fun Facts About Henry Flagler
1. Henry Flagler was a noted philanthropist, giving away over $50 million to various charities and causes troughout his life.
2. He was an avid traveler, making frequent trips to Europe, Egypt and the Caribbean.
3. He is credited with developing the Florida East Coast Railway, which connected Miami to Key West for the first time in 1912.
4. He is also responsible for building luxury resorts along Florida’s east coast, including the Ponce de Leon Hotel in St. Augustine (now Flagler College) and The Breakers in Palm Beach.
5. In addition to his work in transportation and hospitality, he was also a major player in Florida’s real estate development boom of the early 1900s, helping to create many of the state’s modern cities and towns such as Daytona Beach and West Palm Beach.
6. He was a passionate art collector who donated many of his pieces to museums across the United States after his death in 1913.
Henry Flagler’s Path to Wealth
Henry Flagler got rich though his involvement in the oil industry. In 1850, Flagler became a grain merchant in Bellevue, Ohio, where he met John D. Rockefeller and sold grain through him. With $50,000 capital, Flagler made an unsuccessful attempt to manufacture salt in Michigan and returned to Cleveland, where in 1867 he joined Rockefeller in forming the oil company that became Standard Oil in 1870. Under Rockefeller’s guidance and with Flagler’s business acumen, the company quickly expanded and prospered due to its efficient production techniques and shrewd business decisions. By 1889, Standard Oil controlled 90% of the US refining capacity. This success made both Rockefeller and Flagler very wealthy men.
The History of Florida’s Construction
Henry Flagler is credited with building modern Florida, through a combination of exploiting two labor systems: convict leasing and debt peonage. After the Civil War, these labor systems were used to oppress African Americans throughout the South. Flagler used his influence and money to establish a hotel and railroad empire in Florida that helped to shape the state’s landscape and economy. He built grand hotels along the coast, such as The Breakers in Palm Beach, as well as rail lines that connected the East Coast of Florida with Key West. These investments helped turn Florida into a popular tourist destination and established it as an economic powerhouse in the region.
The Builders of Florida’s Railroads
Henry Flagler is credited with building the first railroad in Florida. In the late 1880s, Flagler extended his Florida East Coast Railway Company from Jacksonville along the east coast of Florida, connecting it to Key West by 1912. This project was a great feat of engineering, as he had to build over 100 bridges and viaducts spanning rivers and bays, including the famous Seven Mile Bridge between Marathon and Knight’s Key. Meanwhile, Henry Plant had expanded train lines to Tampa and the West coast during the same time period. Together, these two railroad giants helped connect Florida’s east and west coasts with a rail system like never befoe seen in the state.
The Fate of the Flagler Fortune
The Flagler fortune was left to Mary Lily’s birth family members upon her marriage to Judge Bingham. However, a late addition to Mary Lily’s will provided Judge Bingham with a $5 million inheritance. The majority of the estate was thus passed on to other relatives of Mary Lily. This included both direct and collateral relatives, such as siblings, cousins, and nieces and nephews. The fortune was divided among these individuals according to the terms of the will. The remaining assets were distributed in accordance with the laws governing inheritances in the relevant jurisdiction.
Descendants of Henry Flagler
Henry Flagler was an American industrialist and oil magnate who was highly influential in the development of Florida. He had four children from two marriages: Harry Harkness Flagler, Mary Flagler Cary, Carrie Harkness Flagler, and Jennie Louise Harkness Flagler.
Harry Harkness Flagler had two children, Henry Morrison Flagler II and Jean Marie Flagler Matthews. Henry Morrison Flagler II had three children: Elizabeth (“Betty”) Newhouse, Harry M. Flagler Jr., and Emily M. Perkerson. Jean Marie Flagler Matthews had one daughter, Jean Marie Matthews-Morgan.
Mary Flagler Cary had one son from her first marriage to James Lawrence Cary, Jr., named J. Lawrence Cary III, who has two sons, James Lawrence Cary IV and John Howard Cary. Mary also had four daughters from her second marriage to William D’Alton Mann: Mary Mann DiGiacomo (who has one daughter), Anne Mann Lippincott (who has four children), Elizabeth Mann Kress (who has three children), and Caroline Paine Mann (who has three children).
Carrie Harkness Flagler did not have any children of her own but adopted a daughter named Marjorie Merriweather Post Davis ater marrying Edward Follin Davis. Marjorie had two daughters with her first husband Edward Bennett Close; Nedenia Marjorie Close Post Rumbough (who has five children) and Adelaide Close Martin (who has three sons).
Jennie Louise Harkness Flagler did not have any children of her own either but adopted a son named Irving Berlin Cody after marrying Major Thomas Frederick Cody Jr.. Irving Berlin Cody went on to have two sons with his wife Josephine Berlin Smith; Thomas Frederick Cody III and Samuel Smith Cody.
In total, Henry Flaglers descendants include fourteen grandchildren, twelve great-grandchildren, and five great-great-grandchildren.
The Fate of Henry Flagler’s First Wife
Henry Flagler’s first wife, Mary Harkness Flagler, passed away in 1881. She had been suffering from ill health for some time prior to her death. Flagler and his faithful nurse Alice Shourds were by her side when she passed away. After her death, Shourds went on to become Henry Flagler’s second wife. They married in 1883 and had a long and happy life together util Flagler’s death in 1913.
Mary Harkness was born in Buffalo, New York in 1853, the daughter of wealthy industrialist James Harkness. She met Henry Flagler through his business partner John D. Rockefeller, who also happened to be her cousin. The two married in 1877 and had three children together before Mary’s passing.
Henry Flagler was deeply devoted to his first wife throughout their marriage; he named multiple buildings and institutions after her including the Mary Harkness Memorial Fountain which still stands today in St. Augustine, Florida as a tribute to her memory.
The Motivation Behind Henry Flagler’s Construction of the Florida East Coast Railway
Henry Flagler was an American entrepreneur and one of the founders of Standard Oil. He recognized the potential for increased trade with Cuba and Latin America, as well as with the West using the Panama Canal. Flagler wanted to take advantage of this opportunity and built a railroad bridge from Florida to Key West in order to facilitate this increased trade. The project took seven years and alost 4,000 men to build, but despite having to contend with mosquitoes, sand flies, and hurricanes, they were successful in completing it. Unfortunately, hundreds of workers died due to storms during the bridge’s construction. In the end, Flagler’s vision of connecting Florida directly with Latin America through his railroad bridge was realized.
The Completion of Henry Flagler’s Railroad in Florida
Flagler began building his railroad in Florida in 1892. Under the state’s land-grant laws passed in 1893, Flagler was able to claim 8,000 acres (3,237 ha) from the state for each mile (1.6 km) of track he built. This enabled him to construct an extensive network of railway lines throughout the state and beyond, connecting many cities and towns.
The History of the First Railroad Built in Florida
The first railroad in Florida was built in 1834, running between Tallahassee and Port Leon. This marked the beginning of a railway network that wuld eventually span the entire state, connecting many of its major cities. The construction of the railroad brought an influx of people to Florida and was an important step in its development as a key industrial area.
Did Henry Flagler Marry His Cousin?
Yes, Henry Flagler married his cousin, Mary Harkness, when he was 23 and she was 20. They were both related to Dan Harkness. After six years of marriage and earning enough money to purchase a house in Bellevue, their relationship remained strong.
Who Is the Owner of The Breakers Palm Beach?
Flagler System, Inc. (FSI) is the privately held parent company and original family ownership of The Breakers Palm Beach. FSI is comprised of a group of individuals who are direct descendants of the Flagler family, a powerful and influential family in the late 19th and early 20th centuries. The Flagler family has been responsible for developing much of Florida’s infrastructure, including railroads, bridges, hotels, and othr major developments that have shaped the state. As such, they have long held a strong connection to The Breakers Palm Beach resort, which was opened by Henry Flagler in 1896. Today, FSI continues to maintain ownership of The Breakers Palm Beach as well as two other properties: Breakers West Country Club and One North Breakers Row.
Conclusion
Henry Flagler was a Gilded Age industrialist, philanthropist and founder of Standard Oil. He was born in New York to a Presbyterian minister and his wife, and went on to be one of the most influential businessmen of the 19th century. He purchased the Jacksonville, St. Augustine & Halifax River Railroad, which eventually became the Florida East Coast Railway. Flagler also bought up seveal parcels of property in St. Augustine, most notably that of the Hotel Ponce de Leon. With an estimated net worth of $100 million dollars (about $12.5 billion today), he understood his obligation to society and used his wealth to create opportunities for others. His legacy lives on through his philanthropic work, business acumen and influence in Florida’s development history.
