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Crocker family

Biography of Crocker family From Wikipedia, the free encyclopedia

The Crocker family was a wealthy American family based in California. Its fortune was primarily built in the railroad industry under Charles Crocker. In addition to his large holdings in railroads, Charles also invested extensively in real estate, hotels and banks. Following his death in 1888, Crocker left his family an inheritance estimated to be worth between $20-40 million at the time.

Current region
California, U.S.
Place of origin
England
FounderWilliam Crocker
Connected families
Quick facts Current region, Place of origin ...
Crocker family
Current region
California, U.S.
Place of origin
England
FounderWilliam Crocker
Connected families
EstateCrocker-McMillin Mansion
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History

Charles Crocker

The Crocker family's fortune was originally earned by Charles Crocker, an industrialist in the late 19th century. During the 1860s, Crocker joined a team of wealthy investors (i.e. the "Big Four") in overseeing the construction of the Central Pacific Railroad which was successfully completed in 1869. Later, in 1879, Crocker purchased control of the Southern Pacific Railroad. [1] By 1884, he oversaw the merger of both railroads, thereby giving rise to one of the largest railway systems in the Western United States.[2]

Notwithstanding his extensive railroad empire, Charles Crocker's holdings were not limited to railways. In 1886, he took part in the incorporation of the Crocker Woolworth National Bank,[3] a financial institution which ultimately grew to become the 14th-largest bank in the United States.[4] Crocker also owned large stakes in the Del Monte Hotel and real estate.[5]

At the time of Charles Crocker's death in 1888, his estate is estimated to have been worth between $20-40 million.[6] According to Business Insider, this amount would be equivalent to at least $400 million in 2012.[7]

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