Samuel Insull was known for managing utilities in the United States. At one point, he was delivering a fifth of the power supply of as many as thirty-two states.
Samuel Insull – Making American Life More Comfortable
Samuel Insull revolutionized utilities in the United States by efficiently bringing electricity to homes and offices. Samuel Insull was born in London, England.
Although his humble beginnings had him working as a clerk, he was able to establish the right connection early on in life. He worked for Thomas Edison, the inventor of the light bulb, and it during this apprenticeship that he was able to learn the ins and outs of the electric business.
He moved to the United States after some time. Under Edison, he was able to help in the management and operation of several electric power stations. Later on, he formed a company with some of his associates from Edison, producing one of the most recognizable brand names to this today: General Electric.
After a while, he left General Electric and decided to purchase his own utility company instead. He had shares in many utility companies, but he also helped in the development of railroads.
The contribution of Insull to the industry stems from how his purchase of these utilities allowed for greater economies of scale. More players in the industry meant cheaper electricity for everyone and more people being able to afford it.
While Insull was running a business, he was also making the lives of people across America more comfortable. However, this business leader had to go through some trying times during the Great Depression.
The majority of the utilities he owned under the Middle West Utilities Company were seized by the government. He was accused of running a monopoly because of the major stakes he held in these utility companies.
After this, he left the United States. He was involved in a court case on antitrust charges, but he was never convicted. He died in Paris, where he had relocated with his wife.
The Samuel Insull Quick Bio
Full name: Samuel Insull
Birthdate: November 11, 1859
Birthplace: London, England
Company: Middle West Utilities Company
Industry: Utilities and Energy
Key Success Traits: entrepreneurial spirit
Insull’s wife had said that she would never return to Chicago after she and her husband left. However, after awhile, she started missing her son and returned. Insull died in the Paris Metro. It took two hours before he was discovered dead.