Quotes About Pierre du Pont

A stock that Raskob liked was General Motors. Hearing in 1913 that GM founder William C. Durant found himself in financial difficulties that forced him to borrow $15 million from banks, Raskob decided that GM was a good buy. He soon became bullish on GM in particular and the automotive business in general, and he induced Pierre du Pont to invest heavily in GM stock.

Du Pont became a major shareholder, and, after a reorganization, Pierre du Pont became GM chairman, with Raskob his vice president and chairman of the finance committee.