Charles E. Merrill is one of the top 10 most successful entrepreneurs in the world. Charles was born on October 19, 1885, in Florida. His father was a physician and owner of a drug store. He received his early education at a college and university in Florida.
After leaving college, Charles also ventured into newspaper work, law school and baseball to identify his niche in the business world. Merrill also worked as an office boy in a New York City textile branch in 1907. In 1909, Merrill joined the Commercial Paper Company, which managed the bond department. In 1913, Merrill resigned and joined the Eastman Company of Wall Street as a sales manager.
In 1914, he decided to set up his own banking investment firm, which led to the formation of Charles E. Merrill & Co. Merrill took stock warrants on his commission and sold his shares when their value increased. He was a huge shareholder. His greatest achievement was the establishment of his company, Safeway Stores Inc., in 1926.
In 1928, Merrill realized that the stock market was overvalued, so he advised his clients to sell their holdings immediately. The companies that obeyed Merrill survived the catastrophic October 1929 crash. The after-effects of the crash were long-lasting, so Merrill separated from Brokerage in 1930. Enjoyed what he had earned from his hard work, he lived a luxurious life in his luxurious home in New York for almost ten years. During this time he invested his firm’s 5 5 million dollars in other companies and in 1932 became the founder of Family Care, the first magazine to be distributed by grocery stores.
In 1940, Merrill decided to re-enter the brokerage business, this time with the merger of some companies to build the world’s largest brokerage house with branches in 93 cities.
The Vast changes in the operation of the investment industry in 1940 were due to Merrill. Merrill was adamant that he would attract small investors to the stock market. In 1941, Merrill launched a regular campaign using the slogan “Bring Wall Street to Main Street” and began educating the general public. He apprised them of the new changing structure of the stock market and business in order to attract small investors. To make his campaign a success, Merrill also set up a research analysis department to explain the stock market in very simple language. Advertisements on large billboards were placed, free pamphlets were distributed, and advertisements were placed in newspapers in which Merrill explained the concepts of investment business to layman.
Charles E. Merrill was one of the most successful stock brokers in the history of the United States. He founded the Merrill Foundation with 5.5 million dollars of his shares, to grant for free business education. It donated 95% of his 25 million dollars to the state churches, colleges and hospitals.
Charles E. Merrill was married three times, but unfortunately it’s not worked and divorced. Merrill has three children. He died on October 6, 1956.