Samuel Insull

Who was Samuel Insull?

Samuel Insull was a British-born American business magnate whose vast Midwest holding company empire collapsed in the 1930s. He was an innovator and investor based in Chicago who greatly contributed to creating an integrated electrical infrastructure in the United States. Insull was notable for purchasing utilities and railroads using holding companies. After his business enterprises collapsed during the Great Depression he was accused of profiting personally by selling worthless stock to unsuspecting investors who trusted him because of his position and reputation, but was acquitted at trial. He was also responsible for the building of the Chicago Civic Opera House in 1929.