GUGGENHEIM Origin of surname
Surnames derive from one of many different origins. Sometimes there may be more than one explanation for the same name. This family name is a toponymic (derived from a geographic name of a town, city, region or country). Surnames that are based on place names do not always testify to direct origin from that place, but may indicate an indirect relation between the name-bearer or his ancestors and the place, such as birth place, temporary residence, trade, or family-relatives.
The family name Guggenheim is associated with Guggenheim near Strasbourg in Alsace, France, or with Jugenheim in Rhein Hessen, western Germany. The German suffix "-er" in Guggenheimer means "of/from". 17th century Jews called Guggenheim lived in Germany and Switzerland. Gugenheim is recorded as a Jewish surname in 1679, Guggenheim in 1739, and Gouguenheim in 1809.
Distinguished bearers of the Jewish family name Guggenheim include the Swiss-born American industrialist and philanthropist Meyer Guggenheim (1828-1900); the 20th century Swiss author Kurt Guggenheim; and the 20th century Swiss-born Israeli merchant, manufacturer and banker Yechiel Willy Guggenheim.
Distinguished 20th century bearers of the Jewish surname Guggenheimer include the German architect Ernst Guggenheimer; the American artist , educator and author Richard H. Guggenheimr; and the American mathematician, educator and Jewish family names expert Heinrich W. Guggenheimer.
Meyer Guggenheim
(Personality)Meyer Guggenheim (1828-1905), businessman, the patriarch of the Guggenheim family, born in Lengnau, Switzerland. He immigrated to the United States in 1847, where he initially ventured into selling ribbons and lace as an itinerant vendor in Philadelphia. He later developed a ground-breaking kiln paste formula, prompting him to establish his own factory. Guggenheim ensured that his four eldest sons received comprehensive training in embroidery and lace-making during their teenage years. He sent Daniel, followed by Murry and Salomon, to Switzerland to learn German and French lace techniques. Meanwhile, Isaac was dispatched to New York to establish an office there.
In 1881, the Guggenheim Sons firm was founded, and managed by Guggenheim’s sons, while Guggenheim supervised their progress and offered guidance when needed.
Seeking diversification, Guggenheim purchased 2,000 shares of the financially troubled Hannibal & St. Joseph Railroad in Missouri at $42 per share. Later, he sold his shares to Jay Gould, pocketing a substantial sum of $400,000. In 1881, Meyer embarked on his first trip to Colorado, where he invested in two submerged mines. After significant investment to dry them out, he discovered a remarkable silver deposit of such purity that it could be minted without smelting. Realizing the potential, he expanded his ventures into foundries, securing control of the market from extraction to smelting and sale. In 1889, the Philadelphia Smelting & Refining Company, fully owned by Guggenheim, commenced production with a capital of $1,500,000.
To overcome protectionist laws enacted by Congress, Guggenheim invested in Mexican mines and established processing plants in Monterrey, Mexico. In 1890, his sons Dan and Murry founded the Great National Mexican Smelter Company. The Guggenheims further expanded their interests into copper mines.
Guggenheim sent his sons Benjamin and William to study metallurgy at Columbia University's School of Mines and the University of Pennsylvania, respectively. In 1894, a refinery was constructed in Perth Amboy, New Jersey, enabling the Guggenheim family to control the entire production cycle, from mining to finished metals, be it silver, copper, or lead.
Guggenheim's entrepreneurial spirit, combined with strategic investments and a commitment to education, laid the foundation for the Guggenheim family's prominent role in the mining and metallurgy industries. He died in Palm Beach, Florida.