Guggenheim, Meyer biographical name
(born Feb. 1, 1828, Langnau, Switz.died March 15, 1905, Palm Beach, Fla., U.S.) U.S. industrialist who developed worldwide mining interests that yielded a vast fortune. Guggenheim immigrated to the U.S. in 1847 and built an import firm specializing in Swiss embroideries. His investments in two Colorado copper mines in the 1880s were the foundation of extensive mining interests. His seven sons, especially Daniel, built a large organization of smelting and refining operations. In 1901 the Guggenheims merged their holdings with the American Smelting and Refining Co., a trust composed of the country's largest metal-processing plants. See also Solomon Guggenheim.
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