Henry Wells
Co-founder 1852Background
Henry Wells (1805-1878) co-founded American Express in 1850 alongside William Fargo, but when American Express's other directors opposed expanding operations to California, Wells and Fargo split off to form their own venture. On March 18, 1852, they organized Wells, Fargo & Company with $300,000 in initial capital to provide express and banking services to California during the Gold Rush, opening their first office on San Francisco's Montgomery Street that July. Wells later also co-founded Wells College, a women's college in Aurora, New York, in 1868, reflecting his broader interest in education and social advancement beyond his express and banking businesses. Wells retired from active management of Wells Fargo relatively early, in 1867, focusing his later years on his express business interests and philanthropic ventures like Wells College until his death in 1878.