Lucky Baldwin facts for kids
Quick facts for kids
Lucky Baldwin
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Lucky Baldwin in 1905
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| Born | April 3, 1828 |
| Died | March 1, 1909 (aged 80) |
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| Board member of | Pacific Stock Exchange, Baldwin Hotel, Santa Anita Park, Baldwin Theater, Tallac Hotel & Casino |
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Elias Jackson "Lucky" Baldwin (April 3, 1828 – March 1, 1909) was a famous businessman and investor in California. He was known for his amazing luck in many business deals, which earned him the nickname "Lucky" Baldwin. He built a fancy hotel and theater in San Francisco. He also bought huge amounts of land in Southern California. Many places there are still named after him today.
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Early Adventures
Baldwin was born in Hamilton, Ohio, in 1828. He was one of 14 children. When he was six, his family moved to a farm in Indiana. Even as a child, he loved to explore and have adventures. He didn't go to school much but was known for being strong-willed and independent. At 18, he married Sarah Ann Unruh. They started a farm and trained horses. Later, they moved to Valparaiso, Indiana, where they opened a saloon and grocery store. They also traded grain and used canal boats for business.
Journey to California
In 1853, during the exciting time of the California Gold Rush, Baldwin decided to move to California. He was already a successful businessman. He believed he could make more money by selling food and supplies than by digging for gold. He sold his businesses in Indiana. He used the money to buy wagons and supplies for the long trip west.
Before leaving Racine, Wisconsin, he prepared four wagons. Two were filled with tobacco, brandy, and tea. He hired men to drive the other wagons. They joined a large group of travelers called a wagon train. This journey took five months. During the trip, Baldwin explored ahead and got lost. Friendly Native Americans helped him find his way back.
Near Salt Lake City, his group faced challenges. Baldwin sold his goods there for a good profit. He then bought horses. His family finally arrived in Hangtown (now Placerville) tired but safe. Baldwin sold his horses in Sacramento for a huge profit, making four times what he paid for them.
Smart Business Moves
Baldwin arrived in San Francisco in 1853. He and his wife had more than doubled their money during their journey. He quickly bought a hotel and sold it just 30 days later for another big profit. He was very active in buying and selling land. He also bought a stable, traded goods, and invested in the stock market. He became a key player on the San Francisco Stock Exchange.
He later started a brick factory. His bricks were used to build important places like the U.S. Mint and Fort Point. In 1875–76, he built the very fancy Baldwin Hotel and Theater in San Francisco. This grand building was later destroyed by fire in 1898.
Investing in Mines
When a lot of gold and silver was found in Nevada in 1859 (called the Comstock Lode), Baldwin went there. He sold timber and bought a stable. He made money on several projects. Once, he received shares in a mine called Ophir as payment for a debt. These shares were worth very little at first. He slowly invested in other mines too.
He had another stroke of good luck that made his nickname "Lucky" stick. He told his broker to sell his mine stock if its value dropped. But he accidentally took the key to the safe where the stock papers were kept. So, the broker couldn't sell them. Luckily, the stock price then went way up! This made Baldwin a multimillion-dollar profit. With this new wealth, he expanded his investments even more.
Building an Empire
Thanks to his smart and lucky investments, Baldwin was able to survive stock market crashes. In 1875–76, he built the Baldwin Theater and Hotel. It was considered one of the best hotels west of New York.
In 1880, Baldwin bought a resort near South Lake Tahoe. He renamed it the "Tallac House." It became a popular luxury resort, attracting visitors from all over the United States.
In 1875, Baldwin moved to Southern California. He bought a large piece of land called Rancho Santa Anita. He eventually owned over 63,000 acres (about 25,500 hectares) of land. He added to the old Hugo Reid Adobe house near a lake. This home later became a California Historic Landmark.
When many people started moving to Southern California in the 1880s, Baldwin divided some of his land. He created the towns of Arcadia and Monrovia, California. Part of his land also became the community of Baldwin Hills. The city of Sierra Madre is also on land he once owned.
A visitor to his ranch in 1886 said it was like a huge estate. Baldwin was the biggest employer and taxpayer in Los Angeles County at that time.
Helping His Workers
Baldwin was known for providing many jobs to Chinese, African-American, and Native American workers. He once told a reporter that Chinese workers were "the most reliable laborers." He even paid for African-Americans from North Carolina to travel by train to California to work for him. While he hired many different groups of people, he paid them very little.
A Life of Fame
Baldwin was careful with money in business, but he lived a very fancy life. He was especially generous when it came to women. He was married four times. His third wife, Jennie Dexter, passed away young, leaving him with a daughter. He later married Lillie Bennett, who looked a lot like Jennie. They separated after a short time but never officially divorced. His weddings often made headlines across the country.
Passion for Horse Racing
Baldwin loved to breed and race Thoroughbred racehorses. He raced his horses under the name "Santa Anita Stable." One of his best horses, Los Angeles, won several important races. His horses also won the American Derby four times.
Wyatt Earp, a famous lawman, often visited the racetrack. His wife, Josephine, wrote that she and Wyatt were married on Baldwin's yacht.
In 2018, Lucky Baldwin was honored by being voted into the National Museum of Racing and Hall of Fame. This shows how important he was in the world of horse racing.
Lasting Legacy
In the 1890s, Baldwin's wealth decreased a bit. But he still loved horse racing and playing poker. He passed away at his Arcadia ranch on March 1, 1909. His family and friends were with him.
After Baldwin's death, his land was managed by his friend Hiram A. Unruh. At first, the land wasn't worth much. But ten years later, oil was discovered on it! This became the Montebello Oil Fields, which produced a huge amount of California's crude oil.
Today, Baldwin is most famous for his connection to horse racing. He started the first Santa Anita Park racetrack on his estate. He bred and raced some of the best racehorses of his time.
Many places are named after Lucky Baldwin. These include the Baldwin Hills mountain range and neighborhood in Los Angeles. The city of Baldwin Park is also named for him. Other places include the Baldwin Stakes at Santa Anita, Baldwin Lake in the San Bernardino Mountains, and Baldwin Avenue. There are even pubs named "Lucky Baldwin's" in his honor.
In 2013, a nine-foot bronze statue of Lucky Baldwin was placed in Arcadia, California. It's called A Dawn in the West and shows how important he was to the area.
