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John Warne Gates

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Gambler

The Resume

    (May 18, 1855-August 9, 1911)
    Born in West Chicago, Illinois
    Barbed wire salesman and manufacturer
    President of Republic Steel and Texaco
    High-stakes gambler nicknamed 'Bet a Million' Gates
    Estate worth an estimated $40-50 million at his death

Why he might be annoying:

    Before his success with barbed wire, he had failed at running a grain brokerage and a hardware store.
    Jockey Club President August Belmont asked him to limit his bets to $10,000 as his huge wins were creating the impression that the races were fixed.
    In his most famous wager, he bet heir John Drake on whose bread, dunked in coffee, would attract the most flies at stakes of $1,000 per fly. He netted $11,000, having added six spoonsful of sugar to his coffee before proposing the bet.

Why he might not be annoying:

    He leveraged an $8,000 investment in a barbed wire plant into the $90 million American Steel and Wire Co.
    He convinced reluctant Texan ranchers of the value of his product by holding a demonstration in San Antonio's Military Plaza in which charging cattle failed to break through the barbed wire fences he had erected.
    He transformed Port Arthur, Texas, from a frontier watering hole to a major port on the Gulf of Mexico.
    When he died, Port Arthur flew flags at half-staff in his honor.

Credit: C. Fishel


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Year In Review:

    In 2023, Out of 4 Votes: 0% Annoying