Samuel Insull Biography
Birthday: November 11, 1859 (Scorpio)
Born In: London, England, United Kingdom
Samuel Insull was an American business magnate of British origin. Known as an innovator and an investor, he had immense contribution in the creation of an integrated electrical infrastructure in the US. He is known for building the Chicago Civic Opera House as well. Insull used to work with one of Thomas Edison’s representatives in London, before he went to the US and became Edison’s private secretary. He was made vice president of the Edison General Electric Company when it was formed. He also became the president of the Chicago Edison Company after three years. All of the electricity in Chicago, by 1907, was provided by his firm, which is now known as the Commonwealth Edison Company. Due to the usage of central power station, his electrical power system was able to extend to most of Illinois, as well as part of several neighboring states. During the Great Depression his corporate empire collapsed and he was accused of fraud by selling worthless stock to unsuspecting investors. Though he fled to Europe and tried to escape extradition, he was eventually made to return to Chicago. He was tried for fraud, violation of bankruptcy laws, as well as embezzlement. However, he managed to get acquitted every time.