George Peabody (1795-1869) was an American banker and philanthropist. He set out to help London’s poorest communities over 160 years ago. This is his story.

Peabody was born in Massachusetts in 1795. He spent the early part of his life in the United States where he started his career buying and selling goods such as wool and cotton.  Later he became an investment banker. This is where he gained his large fortune.  

George’s first philanthropic gift was made in 1852 when he donated $20,000 to his hometown of Danvers, MA. That’s the equivalent of $800,000 today. 

There was an urgent need for decent housing in Victorian London. In 1862, Peabody created the Peabody Trust to provide affordable housing for people living in London on low incomes.  

Peabody donated a total of £500,000 to build affordable housing. That’s about £33 million in today’s money.  

Peabody lived in London until he died on 4 November 1869 at 80 Eaton Square. A Blue Plaque in his honour can still be seen on the building today.  

The early years 

Peabody was born in Massachusetts in 1795. He spent the early part of his life in the United States where he started his career buying and selling goods such as wool and cotton.  Later he became an investment banker. This is where he gained his large fortune.  

His first donation 

George’s first philanthropic gift was made in 1852 when he donated $20,000 to his hometown of Danvers, MA. That’s the equivalent of $800,000 today. 

Birth of the Peabody Trust 

There was an urgent need for decent housing in Victorian London. In 1862, Peabody created the Peabody Trust to provide affordable housing for people living in London on low incomes.  

Peabody donated a total of £500,000 to build affordable housing. That’s about £33 million in today’s money.  

His later years 

Peabody lived in London until he died on 4 November 1869 at 80 Eaton Square. A Blue Plaque in his honour can still be seen on the building today.  

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