Financier, Sportsman. The son of August Belmont, Sr. he was birthed into the wealth of the banking and international political scene that his father had constructed as a Prussian immigrant. An 1874 graduate of Harvard University, he is credited, through his love for sports and being a champion sprinter with inventing spiked track shoes. Upon the death of his father in 1890, he assumed control of Belmont & Company and continued investments in the various railroad and transportation ventures that were the boon at that time. The New York Subway system which was completed in 1904 with the help of August’s influence with European lending houses such as Rothchilds, (and support from the Vanderbilt family) another cause credited to the support of Belmont was the radical venture of forging the Cape Cod Canal. While there was money to be made in both areas, substantial losses were incurred and the canal venture is credited to losing a large portion of the Belmont fortune. Continuing his father’s love for horse racing, The Belmont horse enterprise flourished. The “ Belmont Stakes” ascended to be one of the most prestigious races, and continues to enjoy this reputation to the present day. Part of the family land holdings is now Belmont Lake State Park on Long Island, New York. Horses from the Belmont family stables were early winners of this race and the contest later became a sparkling jewel in horse racing’s infamous “ Triple Crown”. The Belmont stables bred the infamous racehorse “Man O’War”. He was an active member of the “Sons of the Revolution” and in 1912 he was elected as a delegate to the Democratic National Convention to represent the State of New York. He was considered to be a summer resident of Newport, Rhode Island as he spent most of his time in the banking trade on Wall Street in New York City. He is buried along with his second wife, the founder of the Metropolitan Opera, Eleanor (Robeson) Belmont.
Financier, Sportsman. The son of August Belmont, Sr. he was birthed into the wealth of the banking and international political scene that his father had constructed as a Prussian immigrant. An 1874 graduate of Harvard University, he is credited, through his love for sports and being a champion sprinter with inventing spiked track shoes. Upon the death of his father in 1890, he assumed control of Belmont & Company and continued investments in the various railroad and transportation ventures that were the boon at that time. The New York Subway system which was completed in 1904 with the help of August’s influence with European lending houses such as Rothchilds, (and support from the Vanderbilt family) another cause credited to the support of Belmont was the radical venture of forging the Cape Cod Canal. While there was money to be made in both areas, substantial losses were incurred and the canal venture is credited to losing a large portion of the Belmont fortune. Continuing his father’s love for horse racing, The Belmont horse enterprise flourished. The “ Belmont Stakes” ascended to be one of the most prestigious races, and continues to enjoy this reputation to the present day. Part of the family land holdings is now Belmont Lake State Park on Long Island, New York. Horses from the Belmont family stables were early winners of this race and the contest later became a sparkling jewel in horse racing’s infamous “ Triple Crown”. The Belmont stables bred the infamous racehorse “Man O’War”. He was an active member of the “Sons of the Revolution” and in 1912 he was elected as a delegate to the Democratic National Convention to represent the State of New York. He was considered to be a summer resident of Newport, Rhode Island as he spent most of his time in the banking trade on Wall Street in New York City. He is buried along with his second wife, the founder of the Metropolitan Opera, Eleanor (Robeson) Belmont.
Bio by: R. Digati
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