Daily Mail News UK
By KAMAL SULTAN FOR DAILYMAIL.COM
PUBLISHED: 14:00 EDT, 1 October 2023 | UPDATED: 14:13 EDT, 1 October 2023
The Astor family were once the wealthiest family in the US – and even today the name still dominates New York City, from Astor Place in Greenwich Village to Astoria in Queens.
The dynasty began with John Jacob Astor, an immigrant from Germany who exploited the beaver fur trade to become America’s first multi-millionaire in the late 1700s.
He used his fortune to purchase 70 acres of prime Manhattan real estate including the areas surrounding Times Square and along the Hudson River. By the time he died aged 84 in 1848, he was worth $30million — equivalent to over $1billion today.
His descendants grew their wealth for generations, buying much of the land New York City is built on before one family member decided to give half away after learning the Astors were ‘slumlords’.