Joseph P. Kennedy Sr.
Joseph Patrick Kennedy (September 6, 1888 – November 18, 1969) was an American businessman, investor, philanthropist, and politician. He is known for his own political prominence as well as that of his children and was a patriarch of the Kennedy family, which included President John F. Kennedy, Attorney General and Senator Robert F. Kennedy, and longtime Senator Ted Kennedy.
"Joseph Kennedy" redirects here. For other uses, see Joseph Kennedy (disambiguation).
Joseph P. Kennedy
Franklin D. Roosevelt
Position established
Franklin D. Roosevelt
Position established
November 18, 1969 (aged 81)
Hyannis Port, Massachusetts, U.S.
- P. J. Kennedy
- Mary Augusta Hickey
See Kennedy family
Businessman, investor, philanthropist, politician
Kennedy was born into a political family in East Boston, Massachusetts. He made a large fortune as a stock and commodity market investor and later rolled over his proceeds by dedicating a substantial amount of his wealth into investment-grade real estate and a wide range of privately controlled businesses across the United States. During World War I, he was an assistant general manager of a Boston area Bethlehem Steel shipyard; through that position, he became acquainted with Franklin D. Roosevelt, who was the Assistant Secretary of the Navy. In the 1920s, Kennedy made huge profits by reorganizing and refinancing several Hollywood studios; several acquisitions were ultimately merged into Radio-Keith-Orpheum (RKO) studios. Kennedy increased his fortune with distribution rights for Scotch whisky. He owned the largest privately owned building in the country, Chicago's Merchandise Mart.
Kennedy was a leading member of the Democratic Party and of the Irish Catholic community. President Roosevelt appointed Kennedy to be the first chairman of the Securities and Exchange Commission (SEC), which he led from 1934 to 1935. Kennedy later directed the United States Maritime Commission. Kennedy served as the United States Ambassador to the United Kingdom from 1938 to late 1940. With the outbreak of World War II in September 1939, Kennedy was pessimistic about Britain's ability to survive attacks from Nazi Germany. During the Battle of Britain in November 1940, Kennedy publicly suggested, "Democracy is finished in England. It may be here [in the United States]." After a controversy regarding this statement, Kennedy resigned his position.
Kennedy was married to Rose Fitzgerald and had nine children. During his later life, he was heavily involved in the political careers of his sons. Three of Kennedy's sons attained distinguished political positions: John served as a U.S. senator from Massachusetts and as the 35th president of the United States, Robert served as the U.S. attorney general and as a U.S. senator from New York, and Ted also served as a U.S. senator from Massachusetts.