Pierre S. du Pont
Encyclopedia
Pierre Samuel du Pont was president of the E. I. du Pont de Nemours and Company
from 1915 to 1919, and served on its Board of Directors
until 1940. He also managed General Motors for some time.
and great-great-grandson of Pierre Samuel du Pont de Nemours
, a French economist (the extra "de Nemours" was added by the original Pierre to ennoble himself after he was elected to the Constituent Assembly). Pierre Samuel du Pont de Nemours' son, Eleuthère Irénée du Pont
, who emigrated to America with his father, founded the DuPont company in 1802, and his descendants were among the richest American business dynasties of the 19th and 20th centuries. Pierre was born in Wilmington, Delaware
and was named after his ancestor. He graduated with a degree in chemistry
from MIT in 1890 and became assistant superintendent
at Brandywine Mills.
developed the first American smokeless gunpowder
in 1892 at the Carney's Point plant in New Jersey.
Most of the 1890s he spent working with the management at a steel firm partly owned by DuPont (primarily by T. Coleman du Pont
), the Johnson Street Rail Company in Johnstown, Pennsylvania
. Here he learned to deal with money from the company's president, Arthur Moxham. In 1899, unsatisfied with how conservative DuPont's management was, he quit and took over the Johnson Company. In 1901, while du Pont was supervising the liquidation of Johnson Company assets in Lorain, Ohio
, he employed John J. Raskob
as a private secretary, beginning a long and profitable business and personal relationship between the two.
and T. Coleman du Pont
, purchased E. I. du Pont de Nemours and Company in 1902, in order to keep the company in family hands, after the death of its president
, Eugene I. du Pont
. They set about buying smaller powder firms. Until 1914, during Coleman du Pont's illness, Pierre du Pont served as treasurer, executive vice-president, and acting president. In 1915, a group headed by Pierre, which included outsiders, bought Coleman's stock. Alfred was offended and sued Pierre for breach of trust. The case was settled in Pierre's favor four years later, but his relationship with Alfred suffered greatly, and they did not speak after that.
Pierre served as DuPont's president until 1919. Pierre gave the DuPont company a modern management structure and modern accounting policies and made the concept of return on investment primary. During World War I
, the company grew very quickly due to advance payments on Allied
munition contracts. He also established many other DuPont interests in other industries.
, building a sizeable personal investment in the company as well as supporting Raskob's
proposal for DuPont to invest in the automobile company. Pierre du Pont resigned the chairmanship of GM in response to GM President Alfred Sloan's
dispute with Raskob over Raskob's involvement with the Democratic National Committee
. When Pierre retired from its Board of Directors, GM was the largest company in the world.
's public schools, financing the replacement of Delaware's dilapidated negro schools.
A building at the University of Delaware
, Du Pont Hall, is named in his honor. It houses the offices and laboratories for the College of Engineering.
Pierre is famous for opening his personal estate, Longwood Gardens
, with its beautiful gardens, fountains, and conservatory, to the public. Pierre was a longtime bachelor, eventually marrying his cousin Alice Belin in 1915 after the death of his mother, and had no children.
DuPont
E. I. du Pont de Nemours and Company , commonly referred to as DuPont, is an American chemical company that was founded in July 1802 as a gunpowder mill by Eleuthère Irénée du Pont. DuPont was the world's third largest chemical company based on market capitalization and ninth based on revenue in 2009...
from 1915 to 1919, and served on its Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
until 1940. He also managed General Motors for some time.
Early life and education
He was the son of Lammot du PontLammot du Pont
Lammot du Pont I was a key member of the Du Pont family in the mid-nineteenth century. His father was Alfred V. du Pont, the eldest son and successor of Eleuthère Irénée du Pont, the founder of DuPont. He obtained a chemistry degree from the University of Pennsylvania and entered into the family...
and great-great-grandson of Pierre Samuel du Pont de Nemours
Pierre Samuel du Pont de Nemours
Pierre Samuel du Pont de Nemours was a French nobleman, writer, economist, and government official, who was the father of Eleuthère Irénée du Pont, the founder of E.I...
, a French economist (the extra "de Nemours" was added by the original Pierre to ennoble himself after he was elected to the Constituent Assembly). Pierre Samuel du Pont de Nemours' son, Eleuthère Irénée du Pont
Eleuthère Irénée du Pont
Éleuthère Irénée du Pont de Nemours , known as Irénée du Pont, or E.I. du Pont, was a French-born Huguenot chemist and industrialist who immigrated to the United States in 1799 and founded the gunpowder manufacturer, E. I. du Pont de Nemours and Company...
, who emigrated to America with his father, founded the DuPont company in 1802, and his descendants were among the richest American business dynasties of the 19th and 20th centuries. Pierre was born in Wilmington, Delaware
Wilmington, Delaware
Wilmington is the largest city in the state of Delaware, United States, and is located at the confluence of the Christina River and Brandywine Creek, near where the Christina flows into the Delaware River. It is the county seat of New Castle County and one of the major cities in the Delaware Valley...
and was named after his ancestor. He graduated with a degree in chemistry
Chemistry
Chemistry is the science of matter, especially its chemical reactions, but also its composition, structure and properties. Chemistry is concerned with atoms and their interactions with other atoms, and particularly with the properties of chemical bonds....
from MIT in 1890 and became assistant superintendent
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
at Brandywine Mills.
Early business career
He and his cousin Francis Gurney du PontFrancis Gurney du Pont
Francis Gurney du Pont was the creator of smokeless gunpowder and the youngest son of Alexis I. du Pont and the grandson of E. I. du Pont. Francis served as superintendent of the Upper and Lower Hagley Yards and later as general manager of Carney’s Point, New Jersey, in 1891. His invention was...
developed the first American smokeless gunpowder
Gunpowder
Gunpowder, also known since in the late 19th century as black powder, was the first chemical explosive and the only one known until the mid 1800s. It is a mixture of sulfur, charcoal, and potassium nitrate - with the sulfur and charcoal acting as fuels, while the saltpeter works as an oxidizer...
in 1892 at the Carney's Point plant in New Jersey.
Most of the 1890s he spent working with the management at a steel firm partly owned by DuPont (primarily by T. Coleman du Pont
T. Coleman du Pont
Thomas Coleman du Pont was an American engineer and politician, from Greenville, Delaware. He was President of the of E. I. du Pont de Nemours and Company, and a member of the Republican Party who served parts of two terms as United States Senator from Delaware...
), the Johnson Street Rail Company in Johnstown, Pennsylvania
Johnstown, Pennsylvania
Johnstown is a city in Cambria County, Pennsylvania, United States, west-southwest of Altoona, Pennsylvania and east of Pittsburgh. The population was 20,978 at the 2010 census. It is the principal city of the Johnstown, Pennsylvania, Metropolitan Statistical Area, which includes Cambria County...
. Here he learned to deal with money from the company's president, Arthur Moxham. In 1899, unsatisfied with how conservative DuPont's management was, he quit and took over the Johnson Company. In 1901, while du Pont was supervising the liquidation of Johnson Company assets in Lorain, Ohio
Lorain, Ohio
Lorain is a city in Lorain County, Ohio, United States. The municipality is located in northeastern Ohio on Lake Erie, at the mouth of the Black River, about 30 miles west of Cleveland....
, he employed John J. Raskob
John J. Raskob
John Jakob Raskob, KCSG was a financial executive and businessman for DuPont and General Motors, and the builder of the Empire State Building. He was chairman of the Democratic National Committee from 1928 to 1932 and a key supporter of Alfred E. Smith's candidacy for President of the United...
as a private secretary, beginning a long and profitable business and personal relationship between the two.
Expansion of DuPont
He and his cousins, Alfred I. du PontAlfred I. du Pont
Alfred Irénée du Pont was an American industrialist, financier and philanthropist. A member of the influential Du Pont family, Alfred du Pont first rose to prominence through his work in his family's Delaware-based gunpowder manufacturing plant, E. I...
and T. Coleman du Pont
T. Coleman du Pont
Thomas Coleman du Pont was an American engineer and politician, from Greenville, Delaware. He was President of the of E. I. du Pont de Nemours and Company, and a member of the Republican Party who served parts of two terms as United States Senator from Delaware...
, purchased E. I. du Pont de Nemours and Company in 1902, in order to keep the company in family hands, after the death of its president
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
, Eugene I. du Pont
Eugene du Pont
Eugene du Pont was an American businessman who served as the first head of modern day DuPont. Son of Alexis Irénée du Pont and grandson of Eleuthère Irénée du Pont. Eugene graduated from the University of Pennsylvania and joined the business in 1861...
. They set about buying smaller powder firms. Until 1914, during Coleman du Pont's illness, Pierre du Pont served as treasurer, executive vice-president, and acting president. In 1915, a group headed by Pierre, which included outsiders, bought Coleman's stock. Alfred was offended and sued Pierre for breach of trust. The case was settled in Pierre's favor four years later, but his relationship with Alfred suffered greatly, and they did not speak after that.
Pierre served as DuPont's president until 1919. Pierre gave the DuPont company a modern management structure and modern accounting policies and made the concept of return on investment primary. During World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, the company grew very quickly due to advance payments on Allied
Allies
In everyday English usage, allies are people, groups, or nations that have joined together in an association for mutual benefit or to achieve some common purpose, whether or not explicit agreement has been worked out between them...
munition contracts. He also established many other DuPont interests in other industries.
General Motors
du Pont was a significant figure in the success of General MotorsGeneral Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
, building a sizeable personal investment in the company as well as supporting Raskob's
John J. Raskob
John Jakob Raskob, KCSG was a financial executive and businessman for DuPont and General Motors, and the builder of the Empire State Building. He was chairman of the Democratic National Committee from 1928 to 1932 and a key supporter of Alfred E. Smith's candidacy for President of the United...
proposal for DuPont to invest in the automobile company. Pierre du Pont resigned the chairmanship of GM in response to GM President Alfred Sloan's
Alfred P. Sloan
Alfred Pritchard Sloan, Jr. was an American business executive in the automotive industry. He was a long-time president, chairman, and CEO of General Motors Corporation...
dispute with Raskob over Raskob's involvement with the Democratic National Committee
Democratic National Committee
The Democratic National Committee is the principal organization governing the United States Democratic Party on a day to day basis. While it is responsible for overseeing the process of writing a platform every four years, the DNC's central focus is on campaign and political activity in support...
. When Pierre retired from its Board of Directors, GM was the largest company in the world.
Retirement and legacy
Pierre retired from DuPont's board in 1940. He also served on the Delaware State Board of Education and donated millions to DelawareDelaware
Delaware is a U.S. state located on the Atlantic Coast in the Mid-Atlantic region of the United States. It is bordered to the south and west by Maryland, and to the north by Pennsylvania...
's public schools, financing the replacement of Delaware's dilapidated negro schools.
A building at the University of Delaware
University of Delaware
The university is organized into seven colleges:* College of Agriculture and Natural Resources* College of Arts and Sciences* Alfred Lerner College of Business and Economics* College of Earth, Ocean and Environment* College of Education and Human Development...
, Du Pont Hall, is named in his honor. It houses the offices and laboratories for the College of Engineering.
Pierre is famous for opening his personal estate, Longwood Gardens
Longwood Gardens
Longwood Gardens consists of over 1,077 acres of gardens, woodlands, and meadows in Kennett Square, Pennsylvania, United States in the Brandywine Creek Valley...
, with its beautiful gardens, fountains, and conservatory, to the public. Pierre was a longtime bachelor, eventually marrying his cousin Alice Belin in 1915 after the death of his mother, and had no children.