Jump To Joseph Kennedy's Stats
There are few men who can claim that their family amounted to royalty in the U.S., but Joseph Kennedy can. Joseph Kennedy Sr. fathered three United States senators, one of which when on to become the President. His lineage also includes a bevy of grandchildren and great grandchildren that have gone on to public service in politics or other professions. The Kennedy political influence during the middle of the 20th century continues to this day.
Kennedy applied his knack of making friends and recognizing opportunity into a multi-million dollar dynasty. As he started out in the business world, he took advantage of his ability to acquire information in the stock market and make insider trading moves that were legal then. As his nest egg grew, he then took advantage of the repeal of prohibition to secure the exclusive rights to import premium alcohol brands that would generate tremendous profits. As the stock market crash approached, Kennedy secured his future by leveraging everything he had with real estate and selling short – a linchpin that would make him one of the richest individuals in America.
With his status and wealth secure, he had earlier befriend Franklin D. Roosevelt – a future U.S. President. With the backing of Kennedy, Roosevelt became a tremendous force to address a nation suffering from a deep economic depression. As a reward, Kennedy became Roosevelt's choice to become the first head of the Security and Exchange Commission – a new regulatory body designed to regulate the abuses of the stock market.
Kennedy, ever the money maker, took advantage of his business acumen and invested in the movie making business in the mid 1920s. His ability to spot troubled enterprises and turn them into profitable concerns continued as he put together a consortium that became RKO Studios and a major player in Hollywood releases.
Kennedy suffered through three of his children’s death. His first son Joe died during the second world war. His son John was assassinated before he could complete his first term as a U.S. President. His son Robert was assassinated in Los Angels during his campaign to become the U.S. President in 1968.
