Final answer:
Joseph P. Kennedy was the Massachusetts man with sufficient capital in 1929 to create million-dollar trusts for his children, while figures like Rockefeller and Carnegie made their fortunes in oil and steel.
Step-by-step explanation:
The Massachusetts man who had enough capital by 1929 to fund million-dollar trusts for each of his children was Joseph P. Kennedy. At that time, other notable figures like John D. Rockefeller and Andrew Carnegie had made their fortunes primarily through the steel and oil industries, respectively. J.P. Morgan, although a wealthy financier, bought out Carnegie and was better known for creating U.S. Steel Corporation and contributing to the banking industry. While Rockefeller and Carnegie are associated with vast wealth accumulation, it was Joseph P. Kennedy who amassed enough wealth to establish substantial trusts for his offspring.