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John Jacob Astor IV was one of the richest men in the world when he died on the Titanic. Here's a look at the life of the multi-millionaire.
In 1893, William Waldorf Astor built the Waldorf Hotel on the corner of Fifth Avenue and 33rd Street. Reportedly, he built the hotel to spite his cousin, John Jacob Astor IV. In retaliation, Astor built a competing hotel in 1897 on the adjacent corner and named it the Astoria Hotel. When the cousins were finally convinced that joining both the hotels would be a smart business decision, a 300-foot marble corridor was built between them. The famous Waldorf-Astoria Hotel was born.
For the next few decades, the hotel became a symbol of luxury, wealth, and class in New York. It was considered one of the best hotels in the country and even in the world.
The Waldorf-Astoria Hotel closed in 1928 and was demolished, making room for the Empire State Building. The new Waldorf-Astoria Hotel was built farther uptown in 1931, long after Astor's death.
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