What was the source of Sutton's wealth?

What was the source of Sutton's wealth?

In the early 20th century, the name Edward Albert Sutton was synonymous with wealth and power. Sutton, who was born into a poor family in the UK, amassed a fortune that would make him one of the richest men in the world. But what was the source of Sutton's wealth?

Real estate investments

One of the key sources of Sutton's wealth was his investment inreal estate. He started buying up properties in London and other major cities in the UK, and then expanded his portfolio to include properties in the US. Sutton had a keen eye for undervalued properties, and he was able to turn them into profitable assets through careful management and renovation.

Railroad investments

Another source of Sutton's wealth was his investment inrailroads. He purchased shares in several railroad companies, including the New York Central Railroad, which was one of the largest and most profitable railroads at the time. Sutton's investments in railroads allowed him to profit from the transportation of goods and people across the US.

Coal mining

Sutton also invested incoal mining, which was a booming industry at the time. He purchased several coal mines in the UK and the US, and was able to turn a profit by selling coal to power plants and other customers. Sutton's investments in coal mining were particularly profitable during World War I, when demand for coal skyrocketed.

Investment philosophy

Sutton's investment philosophy was simple but effective: buy low and sell high. He was always on the lookout for undervalued assets that had the potential to increase in value over time. Sutton was also a believer in diversification, and he made sure to spread his investments across multiple industries and asset classes.

Legacy

Sutton's legacy lives on today, with many of the properties he owned still standing and in use. His investment philosophy has also inspired many investors, and his success serves as a testament to the power of smart investing.

In conclusion, the source of Sutton's wealth was a combination ofsmart investmentsin real estate, railroads, and coal mining, as well as a sound investment philosophy that emphasized diversification and a long-term perspective. His legacy continues to inspire investors today, and his story serves as a reminder of the importance of smart investing in building wealth.