Final answer:
J.P. Morgan built his business empire with the help of various inventions, most notably the electrical innovations of Thomas Edison, which led to the formation of General Electric. Morgan's influence in the finance industry was significant, cementing his role in the consolidation of key industries like steel.
Step-by-step explanation:
J.P. Morgan sought assistance from various inventors and entrepreneurs to build his business empire. One of the most significant inventions that Morgan capitalized on was the electrical innovations of Thomas Edison.
With the formation of General Electric, a result of the merger between Edison's company and another enterprise, Morgan had access to the new electrical technology that would power America.
The consolidation of industry and the creation of corporations like General Electric, which leveraged Edison's electrical inventions, were essential to Morgan's success in the late nineteenth and early twentieth centuries.
J. Pierpont Morgan became a pivotal figure in finance, investing in promising companies and demanding seats on their boards, exerting great influence over the nation's industrial growth.
His investment in U.S. Steel after buying out Andrew Carnegie's steel holdings furthered his control over key industries, and his actions during the 1907 Bankers' Panic showcased his ability to stabilize the financial system.