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The Business of Tomorrow: The Visionary Life of Harry Guggenheim: From Aviation and Rocketry to the Creation of an Art Dynasty
A veteran Forbes journalist brings to life the brilliant and complex Harry Guggenheim in the first-ever biography on this groundbreaking American figure.
At the turn of the last century, the Guggenheim family ran the most powerful mining conglomerate on earth. Decades later came the Guggenheim museum, which became the hub of the world’s most powerful art brand. In between, the Guggenheim name was uttered in every field from aviation to politics, from journalism to rocketry.
But who was behind this epic sphere of influence? It took three generations of Guggenheims to build the wealth in its first era. Yet it was the singular force of Harry Guggenheim who would guide the family’s next generation of businesses into modernity. Part angel investor, part entrepreneur, part technologist, Harry launched businesses whose impact on 20th century America went far beyond the Guggenheims’ mines or museum. His visionary investments continue to profoundly influence our world and hold valuable business lessons for billionaire dynasty builders like Jeff Bezos and Elon Musk.
A flawed but brilliant man, Harry Guggenheim was the confidante to five American presidents and a key financial force behind commercial aviation and space exploration, two innovations that catapulted the nation into the future.
With unprecedented archival access, Dirk Smillie astutely examines Harry’s business acumen, intellectual curiosities, and the world he lived in. Whether it was his paradoxical friendship with Charles Lindbergh or his dynamic and ambitions family members, Smillie puts Harry’s life and work in rich context. Epic and intimate, The Business of Tomorrow reveals the fascinating life of an American icon.
At the turn of the last century, the Guggenheim family ran the most powerful mining conglomerate on earth. Decades later came the Guggenheim museum, which became the hub of the world’s most powerful art brand. In between, the Guggenheim name was uttered in every field from aviation to politics, from journalism to rocketry.
But who was behind this epic sphere of influence? It took three generations of Guggenheims to build the wealth in its first era. Yet it was the singular force of Harry Guggenheim who would guide the family’s next generation of businesses into modernity. Part angel investor, part entrepreneur, part technologist, Harry launched businesses whose impact on 20th century America went far beyond the Guggenheims’ mines or museum. His visionary investments continue to profoundly influence our world and hold valuable business lessons for billionaire dynasty builders like Jeff Bezos and Elon Musk.
A flawed but brilliant man, Harry Guggenheim was the confidante to five American presidents and a key financial force behind commercial aviation and space exploration, two innovations that catapulted the nation into the future.
With unprecedented archival access, Dirk Smillie astutely examines Harry’s business acumen, intellectual curiosities, and the world he lived in. Whether it was his paradoxical friendship with Charles Lindbergh or his dynamic and ambitions family members, Smillie puts Harry’s life and work in rich context. Epic and intimate, The Business of Tomorrow reveals the fascinating life of an American icon.
349 pages, Kindle Edition
Published October 5, 2021
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April 21, 2022
The patriarch of the Jewish Guggenheim family immigrated to America from Europe in the mid-19th Century in part due to freedom of religion and capitalistic opportunities. The male heirs were astute at identifying trends and before long the salesmen became complete businessmen owning manufacturing companies. Their real niche ended up owning a vast amount of lead, copper and silver mining companies.
Harry, who was born in 1890, would guide the Guggenheim family throughout the 20th Century as a dynamic central figure in aviation. Through keen insight his investments kept him on the cutting edge. This led to intimate friendships with Charles Lindbergh, Robert Goddard and others along with relationships with U.S. Presidents. Harry lived a complete life and to honor his extended family he partnered with architect Frank Lloyd Wright to build the Guggenheim Museum in NYC.
I recommend this book to individuals who appreciate biographies, 20th Century American history and stories of successful capitalists, who willingly give back to society.
Personally, I was drawn to this new release biography for a couple of reasons. First, in my own biography “George W. Hamilton, USMC: America’s Greatest World War I Hero” I noted that Major Hamilton, a former infantry battalion commander, transitioned after WWI to a Marine Corps aviator captain and squadron leader. On January 9, 1922, Captain Hamilton, Captain Eddie Rickenbacker and six other dignitaries were honorary guests at the 14th Annual Banquet of the Aero Club of Americas in New York City. Among the 100 attendees were Harry and Edwin Guggenheim, William Rockefeller, Pierre du Pont, Vincent Astor, Fiorello La Guardia and Nelson Doubleday. Sadly, Hamilton died tragically five months later at age 29.
Second, in the early 1980’s when I was single in my 20’s, I maintained a business relationship that transformed to a friendship with Tom Guggenheim a distant relative to Harry. At the time, as a purchasing manager for a major company, I was a customer to Tom, who was 25 years older and owned a textile company. Tom was also a philanthropist. Looking at the photos in the book I must say Tom had a similar appearance to Harry. In major cities like Boston and New York dinner reservations at popular restaurants under the name Guggenheim might raise an eyebrow, but the fact is there are many notable individuals in society. Once at Anthony’s Pier 4 we had an hour wait. We were not in a hurry and rather enjoying ourselves in the packed cocktail lounge when Tom noticed a friend and introduced me to Dr. Henry Heimlich. If anyone were to choke on food that evening all would be well. Tom’s cordial wife usually dined with us, which further added to the conversation. During our first dinner I asked pointed questions. Tom’s answers lined up with author Dirk Smillie’s biography. Tom mentioned that at the beginning of the 20th Century the Guggenheim family owned 75% of all the copper in the world. Although the extended Guggenheim family remained wealthy (Tom had homes in Cincinnati, Snowmass, Colorado and Manhattan) I asked why the Guggenheim family was in decline and he stated it was due to a lack of males. Smillie used the phrase “daughtering-out”, as Harry Guggenheim and three of his uncles had 12 daughters and no sons (this male factor would not be an issue with 21st Century mentality). Tom was a hard worker, yet I still couldn’t help but wonder why he was dining with me versus one of his salesmen. The fact was Tom simply enjoyed people and living life.
Harry, who was born in 1890, would guide the Guggenheim family throughout the 20th Century as a dynamic central figure in aviation. Through keen insight his investments kept him on the cutting edge. This led to intimate friendships with Charles Lindbergh, Robert Goddard and others along with relationships with U.S. Presidents. Harry lived a complete life and to honor his extended family he partnered with architect Frank Lloyd Wright to build the Guggenheim Museum in NYC.
I recommend this book to individuals who appreciate biographies, 20th Century American history and stories of successful capitalists, who willingly give back to society.
Personally, I was drawn to this new release biography for a couple of reasons. First, in my own biography “George W. Hamilton, USMC: America’s Greatest World War I Hero” I noted that Major Hamilton, a former infantry battalion commander, transitioned after WWI to a Marine Corps aviator captain and squadron leader. On January 9, 1922, Captain Hamilton, Captain Eddie Rickenbacker and six other dignitaries were honorary guests at the 14th Annual Banquet of the Aero Club of Americas in New York City. Among the 100 attendees were Harry and Edwin Guggenheim, William Rockefeller, Pierre du Pont, Vincent Astor, Fiorello La Guardia and Nelson Doubleday. Sadly, Hamilton died tragically five months later at age 29.
Second, in the early 1980’s when I was single in my 20’s, I maintained a business relationship that transformed to a friendship with Tom Guggenheim a distant relative to Harry. At the time, as a purchasing manager for a major company, I was a customer to Tom, who was 25 years older and owned a textile company. Tom was also a philanthropist. Looking at the photos in the book I must say Tom had a similar appearance to Harry. In major cities like Boston and New York dinner reservations at popular restaurants under the name Guggenheim might raise an eyebrow, but the fact is there are many notable individuals in society. Once at Anthony’s Pier 4 we had an hour wait. We were not in a hurry and rather enjoying ourselves in the packed cocktail lounge when Tom noticed a friend and introduced me to Dr. Henry Heimlich. If anyone were to choke on food that evening all would be well. Tom’s cordial wife usually dined with us, which further added to the conversation. During our first dinner I asked pointed questions. Tom’s answers lined up with author Dirk Smillie’s biography. Tom mentioned that at the beginning of the 20th Century the Guggenheim family owned 75% of all the copper in the world. Although the extended Guggenheim family remained wealthy (Tom had homes in Cincinnati, Snowmass, Colorado and Manhattan) I asked why the Guggenheim family was in decline and he stated it was due to a lack of males. Smillie used the phrase “daughtering-out”, as Harry Guggenheim and three of his uncles had 12 daughters and no sons (this male factor would not be an issue with 21st Century mentality). Tom was a hard worker, yet I still couldn’t help but wonder why he was dining with me versus one of his salesmen. The fact was Tom simply enjoyed people and living life.
February 6, 2022
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.
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.
January 27, 2022
The life of Harry Guggenheim as viewed through his contributions to society. Author points out that Guggenheim supported the development of aviation and rocketry as well as art. He points out that Guggenheim as a titan of capitalism never ignored benefitting society and contributing to the economic and social development of the United States and the world.
October 2, 2022
Somewhat lackluster presentation of the life and career(s) of an outstanding contributor to several important developments of the 20th Century. Full review to come.
Ten months later, decided not to review further.
Ten months later, decided not to review further.
April 21, 2025
Guggenheim kept busy, what an incredible life. Well researched account of a man who influenced the 20th Century.
May 3, 2022
This is a fascinating story about a very powerful and influential businessman who made crucial contributions to the security and prosperity of his country.
Harry Guggenheim was born into a family dynasty of great wealth, and the reader is presented with a detailed full life biography, in addition to the detailed coverage of the two major achievements highlighted in the book's title.
Dirk Smillie is a vivid and engaging writer, and his readers are beneficiaries of truly prodigious, thorough research on the author's part. Who else would uncover such information as the fact that Bernard Baruch's father was a surgeon for the Confederate Army during Americas's Civil War?
One of the many portions of this book which compel renewed admiration for Guggenheim is its detailed account of his enlistment when over fifty years old, in active combat, during WWII.
Harry Guggenheim was born into a family dynasty of great wealth, and the reader is presented with a detailed full life biography, in addition to the detailed coverage of the two major achievements highlighted in the book's title.
Dirk Smillie is a vivid and engaging writer, and his readers are beneficiaries of truly prodigious, thorough research on the author's part. Who else would uncover such information as the fact that Bernard Baruch's father was a surgeon for the Confederate Army during Americas's Civil War?
One of the many portions of this book which compel renewed admiration for Guggenheim is its detailed account of his enlistment when over fifty years old, in active combat, during WWII.
November 29, 2021
This book managed to be equal measures interesting and boring. It’s hard to deny that stories of the Guggenheim empire, friendships (including with Charles Lindbergh and Robert Goddard), marriages, houses, political ties, travels, and philanthropy are “of interest”, but the telling was dry for my taste. It is a fully competent biography of Harry Guggenheim, but one that felt a bit of a chore to read.
January 16, 2022
Very inspiring.
Read
January 31, 2022Excellent-I had no idea who he was or his contributions to aviation and his funding if a brilliant aeronautics engineer who made space travel possible-Branson and Musk should read this book!
May 20, 2022
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.
Received this book for free as apart of an eARC.
Displaying 1 - 10 of 10 reviews