Joseph P. Kennedy Sr.

Joseph Patrick Kennedy was born on September 6, 1888, at 151 Meridian Street in East Boston, Massachusetts. His parents were Mary Augusta (née Hickey) Kennedy and Patrick Joseph "P.J." Kennedy, who was a businessman and politician. Kennedy attended Boston Latin School, where he excelled at baseball and was elected class president before graduating in 1908. He subsequently enrolled at Harvard College, earning a bachelor's degree in economics in 1912 and gaining admission to the Hasty Pudding Club, though he was not invited to join the Porcellian Club.

Kennedy’s initial career pursuits included a position as a state-employed bank examiner. In 1913, he acquired control of the Columbia Trust Bank, which was under threat of takeover, by borrowing $45,000 from family and friends. At the age of 25, he was elected president of the bank, claiming to be "the youngest" bank president in America. In May 1917, he was elected to the Board of Trustees of the Massachusetts Electric Company. During World War I, Kennedy served as assistant general manager of a Bethlehem Steel shipyard in Quincy, Massachusetts, overseeing the production of transports and warships. His role in shipyard production brought him in contact with Franklin D. Roosevelt, then Assistant Secretary of the Navy.

In 1919, Kennedy joined Hayden, Stone & Co., a brokerage firm in Boston and New York, where he gained experience in stock trading risks and tactics reportedly involving insider dealings and market manipulation, although scholarly assessments dismiss direct links to bootlegging or illegal activities. By 1923, he established his own investment firm and, following the 1929 stock market crash, became notably prosperous through short selling and strategic investments.

Kennedy's real estate investments included distressed properties, notably through Old Colony Realty Associates. During the early 1920s, he made significant profits and became a millionaire. His wealth grew substantially during the Great Depression, with estimates of his fortune rising from $4 million in 1929 to $180 million by 1935. His investment portfolio also included ownership interests in Hollywood film studios and theaters.

During the 1920s and 1930s, Kennedy engaged in reorganizing and refinancing film studios, notably acquiring Film Booking Offices of America (FBO) and merging with Keith-Albee-Orpheum (KAO) to form Radio-Keith-Orpheum (RKO) in 1928. His interests in film distribution and theater ownership were part of his broader strategy to capitalize on the entertainment industry.

Kennedy was active in the Democratic Party and the Irish Catholic community. In 1934, President Franklin D. Roosevelt appointed him as the first chairman of the Securities and Exchange Commission (SEC), a position he held until 1935. Subsequently, he directed the United States Maritime Commission. From 1938 to late 1940, Kennedy served as the United States Ambassador to the United Kingdom. His tenure coincided with the early months of World War II; his public comments during the Battle of Britain in November 1940, including a statement suggesting that "Democracy is finished in England," led to controversy and his resignation.

Kennedy was married to Rose Fitzgerald Kennedy; together, they had nine children. His children included John F. Kennedy, who served as U.S. senator and the 35th president of the United States; Robert F. Kennedy, who served as U.S. attorney general and senator from New York; Ted Kennedy, a U.S. senator from Massachusetts; Eunice Kennedy Shriver, founder of the Special Olympics; and Jean Kennedy Smith, who served as U.S. Ambassador to Ireland. Throughout his later life, Kennedy remained actively involved in the political careers of his sons.

Joseph P. Kennedy died on November 18, 1969.