How the Bush family dynasty became America's first family if finance

16:10 • 02.03.14
Economy

America doesn't have many political dynasties as powerful and well known as the Bush Family, according to the Business Insider.

Their success is an effort that takes money, power, and all of the right connections — some of which comes from a history on Wall Street.

Bushes have served in both the executive and legislative branches of our federal government. The family provided a pair of Presidents — the 41st and 43rd — and have held two state governorships.

And because of George W. Bush’s close ties to Texas and connections with the oil industry, the Bush family is often perceived as a bunch of oil tycoons.

In reality, however, the oil industry is just one of many in which the Bush family displayed their financial expertise. The family tradition, which continues to this day, was founded upon the pursuit of riches through investment banking and wartime business ventures.

This is why the family has had a hand in businesses from Halliburton to Merrill Lynch, and also has a history of owning major league sports teams.



Samuel P. Bush, one of the two patriarchs of the dynasty, had extensive experience as a banking executive.

Samuel served on the Board of Directors for the Federal Reserve Bank of Cleveland and helped found the U.S. Chamber of Commerce. During WWI, he served as Chief of the Ordnance, Small Arms and Ammunition division on the War Industries Board, where wartime business ventures coupled with his connections to the Rockefeller family laid the foundation for the family's fortune. 

 

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