Floyd Odlum

Floyd Odlum

Birthday1892-03-30
AgeHe is 125 years old
Birth Sign Aries (mars 20 - avr. 19)
GenderMale
Floyd Odlum's Child
He has 1 Child. Name is Bruce Odlum.
Who is Floyd Odlum?
Floyd Bostwick Odlum was a wealthy lawyer and industrialist. He has been described as "possibly the only man in the United States who made a great fortune out of the Depression". After struggling as a corporate attorney in Salt Lake City, Odlum received an offer to a law clerk at a New York firm, and in 1921 became Vice-President of his primary client, Electric Bond and Share Company. In 1923, Odlum, a friend, and their wives pooled a total of $39,600 and formed the United States Company to speculate in purchases of utilities and general securities. Within two years, the company's net assets had increased 17 fold to nearly $700,000. In 1928, Odlum incorporated Atlas Utilities Company to take over the common stock of his other company. During the summer of 1929, Odlum was one of the few industrial moguls to believe that the boom on Wall Street could not continue much longer, and he sold one half of Atlas's holdings, as well as nine million dollars in new securities to investors. He had 14 million dollars in cash and short term notes when the stock market crashed.