The Pew family primarily made their money through significant ventures in the oil industry and, subsequently, the shipbuilding business.
Their wealth originated from the Sun Oil Company (now known as Sunoco), an enterprise that expanded significantly under the leadership of family members. For instance, J. Howard Pew served as Sun Oil's president starting in 1912, overseeing its growth and strategic direction.
Expansion into Shipbuilding
In 1916, the Pew family diversified their industrial portfolio by venturing into the shipbuilding sector. This led to the establishment of the Sun Shipbuilding & Drydock Company in Chester, Pennsylvania. This new business was managed by Joseph N. Pew Jr., who played a crucial role in its development.
Under Joseph N. Pew Jr.'s leadership, the Sun Shipbuilding & Drydock Company rapidly expanded, achieving remarkable prominence by World War II. It became:
- The largest private shipyard in America.
- The biggest producer of oil tankers in the United States.
This strategic expansion into shipbuilding not only supported the nation's energy transport needs but also solidified the Pew family's substantial financial legacy.
To summarize the core sources of the Pew family's wealth:
| Source of Wealth | Key Companies / Figures | Period of Major Influence |
|---|---|---|
| Oil Industry | Sun Oil Company (later Sunoco) Key Figure: J. Howard Pew |
Early 20th Century Onwards |
| Shipbuilding | Sun Shipbuilding & Drydock Company Key Figure: Joseph N. Pew Jr. |
From 1916, notably through World War II |
These major industrial enterprises formed the foundational pillars of the Pew family's considerable fortune, showcasing their influential role in American commerce and industry.
