This short article doesn’t have a lot to do with insurance but it had an impact on me when I read it so many years ago. You will see by the dates indicated in the article, things have not changed much. In fact, if someone would take the time to research these professions you could list ten more wealthy people who had the same ending to their lives.

“In 1923 a very important meeting was held at the Edgewater Beach Hotel in Chicago. Attending this meeting were ten of the world’s most successful financiers. Those present were:

  1. The president of the largest independent steel company.
  2. The president of the National City Bank.
  3. The president of the largest utility company.
  4. The president of the largest gas company.
  5. The greatest wheat speculator.
  6. The president of the New York Stock Exchange.
  7. A member of the President’s cabinet.
  8. The greatest “Bear” on Wall Street.
  9. Head of the world’s greatest monopoly.
  10. President of the Bank of International Settlements.

Certainly we must admit that here were gathered a group of the world’s most successful men, at least men who had found the secret to “making money.”

Twenty five years later, let’s see where these men are:

The president of the largest independent steel company, Charles Schwab, died bankrupt and lived on borrowed money for five years before his death.

The president of the great utility company, Samuel Insull, died a fugitive from justice and penniless in a foreign land.

The president of the largest gas company, Howard Hopson, is now insane.

The greatest wheat speculator, Arthur Cutten, died abroad, insolvent.

The president of the New York Stock Exchange, Richard Whitney, was recently released from Sing Sing penitentiary.

The member of the President’s cabinet, Albert Fall, was pardoned from prison so he could die at home.

The greatest “bear” on Wall Street, Jesse Livermore, died a suicide.

The head of the greatest monopoly, Ivor Krueger, died a suicide.

All of these men learned well the art of making money, but not one of them learned how to live!”

Something to think about in our everyday quest for personal happiness.

Article taken from Life Insurance Marketing Institute, Purdue University, “The Rotary Whizz,” date unknown.