See Which Bank Just Overtook Infamous JPMorgan as King of the Hill
When the Federal Reserve was masterminded on Jekyll Island, JPMorgan (NYSE:JPM) cemented itself into the top level of the economic pyramid.
However, today a new bank has become the largest bank in the US by market value … Wells Fargo (NYSE:WFC).
Wells Fargo was founded in 1852 to provide “express and banking services to California.” Looks like Wells Fargo has done a great job riding the growth of one of the world’s largest economies (i.e., California).
This interesting video explains the magic behind Wells Fargo’s business model: