Marcus Samuel, 1st Viscount Bearsted facts for kids
Quick facts for kids
The Viscount Bearsted
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Sir Marcus Samuel, Bt, ca. 1902
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| Born |
Marcus Samuel
5 November 1853 Whitechapel, London, England
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| Died | 17 January 1927 (aged 73) |
| Known for | Founder, Samuel Samuel & Co Founder, The "Shell" Transport and Trading Company |
| Spouse(s) |
Fanny Elizabeth Benjamin
(m. 1881; |
| Children | Walter Horace Samuel |
| Relatives | Samuel Samuel (brother) |
Marcus Samuel, who later became the 1st Viscount Bearsted, was an important British businessman. He was born on November 5, 1853, and passed away on January 17, 1927. He is best known for starting the Shell Transport and Trading Company. This company later joined with a Dutch company to form what we now know as Royal Dutch Shell. Marcus Samuel also served as the Lord Mayor of London, a very important role in the city's government.
Contents
Starting a Business Empire
Marcus Samuel was born in Whitechapel, London. His family was Iraqi Jewish and came from Mesopotamia (which is now Iraq). His father, also named Marcus Samuel, had a successful business. They bought and sold goods, especially with countries in the Far East.
Marcus Samuel and his brother, Samuel Samuel, took over their father's company, M. Samuel & Co. They helped Japan get its first big loans from London. They also played a big part in developing the coal trade in Japan.
Marcus studied in Edmonton and Brussels. He traveled a lot in Asia before starting his business career. He visited places like Sri Lanka, Straits Settlements, Thailand, the Philippines, China, and Japan.
The Oil Business
In 1890, Marcus Samuel saw a huge opportunity in the oil market. This was during a trip to the Caucasus region. He realized that oil would be a very important resource for the future.
In 1891, he made a special deal with the Rothschild family. This deal allowed him to sell kerosene (a type of oil) east of the Suez Canal for nine years. To do this, he needed a new type of ship. He designed and built safer tankers that could travel through the Suez Canal.
The first of these new ships was called the Murex. It sailed from West Hartlepool in July 1892 to pick up kerosene in Batum. The ship then safely went through the Suez Canal in August. It continued its journey to his storage places in Singapore and Bangkok. From there, the kerosene was sold to people. Marcus Samuel then built ten more ships, all named after seashells.
In 1895, he got permission to explore for oil in east Borneo. Oil was found there in 1897.
Founding the Shell Company
In 1897, Marcus Samuel officially started the Shell Transport and Trading Company. He named it "Shell" because his father's original business was trading seashells.
He was also made a justice of the peace in Kent. This meant he could help keep law and order. He also received a knighthood for helping a British warship that got stuck near Port Said.
Public Service in London
Marcus Samuel had a long and important career in the government of the City of London. In 1891, he was chosen as an Alderman for the Portsoken area. In 1894, he became the Sheriff of the City of London.
While he was Sheriff, he worked to unite London's different areas. He wanted the City and other districts to join with the London County Council. This council had been created in 1889.
In September 1902, he was chosen as the Lord Mayor of London. He served in this important role from November 1902 to November 1903. In 1903, he was given the traditional title of Baronet. He also helped with a special committee about the Port of London.
Shell's Growth and Later Life
In 1907, Marcus Samuel's company, Shell, joined with a Dutch company called Royal Dutch. Together, they created the Royal Dutch/Shell Group. This group included two main parts: Bataafsche Petroleum Maatschappij for oil production and refining, and Anglo-Saxon Petroleum Company for transport and storage.
Marcus Samuel also served as a Director for the Alliance Marine Assurance Company. His family's original company, M. Samuel & Co., later became a merchant bank. In 1965, it merged with another company to form Hill Samuel, which is now part of Lloyds TSB.
Because of his important help to Britain during World War I, he was given the title of 1st Baron Bearsted in 1921. In 1925, he was given an even higher title, becoming the 1st Viscount Bearsted. He also received an honorary degree from the University of Sheffield.
Personal Life
Marcus Samuel married Fanny Elizabeth Benjamin in 1881. She was the daughter of Benjamin Benjamin from London.
Every morning, Marcus Samuel enjoyed riding horses in Hyde Park, London. His country home was a large estate in Kent called The Mote, which covered 500 acres.
Titles Held
- Mr Marcus Samuel (1853–1898)
- Sir Marcus Samuel (1898–1903)
- Sir Marcus Samuel Bt. (1903–1921)
- The Rt. Hon. The Lord Bearsted Bt. (1921–1925)
- The Rt. Hon. The Viscount Bearsted Bt. (1925–1927)
See also
In Spanish: Marcus Samuel Moss para niños
