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Virginia Giannini, a widow at age 21 and pregnant with her third child, was determined to keep the farm and provide for her children. With Amadeo at her side, she traveled 42 miles by boat to San Francisco, where they sold the farm’s produce. She soon remarried Lorenzo Scatena, who was very fond of Amadeo and his siblings.
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Amadeo Peter Giannini died in 1949 and is buried at Holy Cross Cemetery, in Colma, CA. Among the many obituaries there is one worth mentioning: 1949 - 3 June - The Modesto Bee - Death Calls A.P. Giannini, Bank of America Head - San Mateo, June 3 - Amadeo Peter Giannini, boy produce peddler who fought his way up to become the world's biggest ...
- Early Life
- Marriage
- Bank of Italy
- 1906 San Francisco Earthquake
- Financier
- How Do I Replicate What Amadeo Giannini did?
- What Can We Learn from Amadeo Giannini?
To tell the story of Amadeo Giannini, we must first take a look at his father: Luigi. Born in 1848 in the comune of Favale di Malvero, near Genoa, Liguria in present-day Italy (then in the Kingdom of Sardinia) Luigi heard about the gold rush then happening in California and moved there with the hopes of striking it rich. Unlike many of his fellow p...
Eventually, Amadeo went out on his own and started his own company – a Santa Clara Valley-based produce broker and dealer that connected local farms with stores in need of fresh produce to sell, which he charged a commission for. Proving successful, Amadeo was introduced into leading members of San Francisco society, including politicians and busin...
After three years of trying to convince them otherwise, Amadeo quit the board in frustration and vowed to start his own bank. Staying true to his promise, Amadeo founded the Bank of Italy on October 17 1904 with its first branch in San Francisco. Founded with the aim of becoming the bank of “the little fellow” the bank’s first branch was in a conve...
In 1906, a devastating earthquake leveled much of San Francisco, with fires destroying much of what left. Though all areas of the city were hit badly, the business quarter (where Amadeo’s competitors were located) was hit particularly bad. It wasn’t the earthquake that caused the most problems – it was the fire. You see, the fires superheated the b...
The head of one of the largest banks in the United States, and mostly uninterested in obtaining wealth, Giannini instead chose to use his money to do at least a little good. Loaning his bank’s money out to companies in California, Amadeo Giannini had one condition: Expand California. When California’s burgeoning wineries needed startup capital, Gia...
Reading about the truly amazing life of Amadeo Giannini, you’re probably wondering how you could replicate what he did to similarly become the founder of one of the largest banks in the world. And here’s where I’ve got to be honest: you can’t. Though the largest banks, such as Bank of America, have billions of dollars in deposits, their business mo...
Though he passed away the better part of 70 years ago, the life of Amadeo Giannini can teach you a lot, both about starting/running your own business and life in general.
When Amadeo Giannini passed away in 1949, his net worth was just as little as US$500.000. You might think that’s a meagre sum for the greatest Italian American banker of all time.
Amadeo Pietro Giannini ( Italian pronunciation: [amaˈdɛːo ˈpjɛːtro dʒanˈniːni] ), also known as Amadeo Peter Giannini or A. P. Giannini (May 6, 1870 – June 3, 1949) was an American banker who founded the Bank of Italy, which eventually became Bank of America. Giannini is credited as the inventor of many modern banking practices.
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