Source of Wealth:merchandising
Birth Place:Lisburn, Ireland
Full Name:Alexander Turney Stewart
Date of Birth:October 12, 1803
About Alexander Turney Stewart
A.T. Stewart was an Irish-American entrepreneur who had an estimated net worth of $90 billion.
Stewart opened his first store on Broadway, selling Irish fabrics and domestic calicos.
When he first opened the store, he placed cases full of merchandise along the sidewalk in front of the store as a way of advertising his establishment. At that time, he didn't put signs on his store.
Between 1846 and 1848, the construction and finishing details were completed for Marble Palace, which is located at 280 Broadway. The establishment became the epitome of A.T Stewart & Company, and became the top of America’s most successful retailers.
In 1855, Stewart's personal fortune was estimated to be $2.25 million. Then, after a year he decided to expand his merchandise which include furs.
In 1871, Stewart incorporated the Central Railroad of Long Island, which was completed in 1873. The railroad system ran from Long Island City through his development at Garden City to a brick yard at Old Bethpage and docks at Babylon.
Stewart received many letters from women in rural parts of the United States. They would request his merchandise, and he would reply to the letters and send the orders out. The customer would then receive it and send money back to pay their orders.
He hired twenty clerks to read, respond and mail out the entailed orders in 1876. In 1877, it had expanded to thirty separate departments wherein it carried a wide variety of items.
Alexander Turney Stewart was born on October 12, 1803 in Lisburn, Ireland. He was married to Cornelia Mitchell Clinch. He died on April 10, 1876.