Cover Image: The Business of Tomorrow

The Business of Tomorrow

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Member Reviews

An informative and interesting read about Guggenheim. Will definetely change how some look at Guggenheim.

Received this book for free as apart of an eARC.

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I am grateful to NetGalley for providing an advance copy of this book in exchange for my honest review.

For many people, the name Guggenheim conjures up the Art world, funding, promotion and world-class museums, in New York, Venice and Bilbao. Possibly there may be some awareness of the family dynasty, the global business and the wealth that has enabled their philanthropy. This book, essentially a biography of one of the most prominent family members, Harry Guggenheim, and his life during the 20th century. The book adds richness, depth and nuance to the current public perception of what has become a global business brand.

Harry Guggenheim, a grandson of the founder of the family business, was born in 1890. His influence both during and after his lifetime goes well beyond business and philanthropy. Hence the subtitle of this book; “The Visionary Life of Harry Guggenheim: From Aviation and Rocketry to the Creation of an Art Dynasty”.

Early chapters detail the Guggenheim family’s roots in Europe, migration to the United States and the beginnings of the family business at the end of the 19th century. In business and in particular mining ventures in Mexico and South America, the Guggenheim family created a family fortune, often by implementing new or better technology. Concepts Harry would take to his future non-mining activities. By the early years of the 20th Century, the Guggenheim family had made mining a recognised, respectable investment, with their successes around the world in numerous commodities. Commodities needed in a modern world of industry, electricity and manufacturing.

Harry Guggenheim was born into this rich and successful New York family. He grew up in an affluent environment, in the presence of a father deeply involved in the family business along with several ambitious and successful uncles. Harry entered the family business, travelling and living in remote locations in Mexico where he learnt the technology of mining as well as the economics of the business and the relationships required amongst stakeholders. Upon returning to the US, Harry was married and soon after, continued his education in the United Kingdom, at Cambridge University. The influence of those he met during these years and ideas shared, remained with him throughout his life.

Following his return to the US and the family business, it became likely that he would eventually lead the family business, after more hand-on experience in the field. Thus Harry relocated once more outside the USA, to Chile where he was largely responsible for the establishment of a new copper mine in a remote, isolated, dry and unpopulated area. Again, as with Mexico, technical innovations as well as business, political and organisation skills were needed to make the mine a world-class asset for the family business.

With the outbreak of WW I in Europe, the book diverges from a history of Guggenheim business activities to a more personal biography of Harry Guggenheim and his vision for not only the family business, but his wide range of interests. The arts, social issues, technology and in particular aviation.
The war highlighted to Harry the lagging position of the US compared to the evolving aviation industry in Europe. The book follows his success in learning to fly, developing aircraft knowledge plus his recognition of the significant limitations in US aviation. Not only was this a hindrance to US defence, but also a hindrance to Harry’s vision of aviation as a transportation and technology business.

Guggenheim funding and influence plays a significant role in the early years of the US aviation industry. Active participants in Harry’s initiatives are a roll-call of US aviation legends. These include the Wright brothers, Boeing, Douglas and in particular Charles Lindberg and Robert Goddard. Lindberg becomes a close and lifelong friend to Harry, despite political differences that emerge over the years. The chapters detailing this relationship are amongst the most interesting in the book. Also of great interest is Harry’s support, both financially and as a colleague, for Robert Goddard, an early pioneer in rocket technology and now considered one of the fathers of the US space program, with his research and experiments influential on NASA designs. Harry Guggenheim’s relationship with individuals as well as political and educational institutions is a compelling story of the development of the US aviation industry; a story of influence, resilience and vision.

Harry Guggenheim was also active in many non-aviation activities during his lifetime. As well as heading up a global business, he was also committed to Public Service. Chapters of the book discuss his years in Cuba during a turbulent time of the early 1930s, his ongoing interest in US politics and his return to military service with the outbreak of WW II and the eventual creation of the Air Force as another branch of the US military.

Later chapters of the book discuss Harry’s interests and participation in thoroughbred horse breading & racing, newspaper publishing, the arts and politics. His friendship and funding of Goddard continue, despite experimental problems with rocket flight. Nevertheless Harry saw the potential and continued providing moral as well as financial support. Harry’s complex friendship with Lindberg continues to the end of his life. Harry’s interest in politics grows with access to and influence with Presidents and senior politicians of the day.

Harry’s Uncle Solomon was the impetus for the famous New York Guggenheim Museum but passed away during the planning of the Frank Lloyd Wright building. As the head of the Guggenheim family, influence and organisational skills enable his Uncle’s vision to come to fruition.

Harry Guggenheim passed away at the age of 80 years in January 1971. His influence on so many aspects of life today is significant. Apart from maintaining and building the Guggenheim family business, Harry had significant responsibility for todays aviation business, the space industry, and of course the arts. His influence in many areas goes well beyond the borders of the USA. Some 50 years after his death, his foundation to address Crime and Justice is still active, but the US perhaps lacks the political will to takes its ideas further.
Harry Guggenheim, Businessman and Philanthropist, deserves to be better known and appreciated. Perhaps a role-model for those with todays wealth, power and influence. Some who undoubtedly ‘stand on his shoulders’.

In summary, a wonderful, engaging book. For readers of this book, the name Guggenheim become more meaningful. Not just a name from the Art world, responsible for generous funding and world-class art museums, but a name largely responsible for todays aviation and space business; And much more. I wish the authors and publishers all the very best with publication.

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