August Belmont (1816-1890), for whom the prestigious Belmont Stakes thoroughbred racing cup is named, was one of the influential bankers who helped define America's Gilded Age. In addition to heading a Wall Street firm that bore his name, Belmont served various Democratic administrations as a diplomat, amassed an impressive art collection, and was a key figure in establishing thoroughbred racing as a sport in the United States. Known for his penchant toward lavish entertaining, Belmont was said to have been the inspiration for a character in Edith Wharton's 1920 novel, The Age of Innocence.

Belmont's Jewish family had roots in Alzei, a town in Germany's Rhenish Palatinate. He was born there on December 8, 1816, to Simon and Frederika (Elsaas) Belmont. His father owned land in the area. Because of the family's relative affluence, young Belmont was able to choose his career freely. After attending a commercial school, at the age...