
“Morgan retaliated with a strategy that would become one of his hallmarks. He spread rumors to Wall Street that Westinghouse’s company was financially unstable, which dissuaded investors from giving Westinghouse the capital that he needed to expand the production and installation of his alternating current generators. Morgan then began an attack through stock manipulation, and moved to gain control of The Westinghouse Corporation, and thus Tesla’s patents. By the end of 1897, Westinghouse was nearly bankrupt, and it looked as though Morgan would usurp everything that Tesla and Westinghouse had built together. Westinghouse owed Tesla over $1 million in royalties, an amount that grew daily. When Westinghouse described to Tesla the desperate situation, Tesla replied with the following: “Mr. Westinghouse, you have been my friend, you believed in me when others had no faith; you were brave enough to go ahead when others lacked courage; you supported me when even your own engineers lacked vision. ... Here is your contract, and here is my contract. I will tear them both to pieces, and you will no longer have any troubles from my royalties.” In time, these royalties would’ve made Tesla the world’s first billionaire. Instead, they enabled Westinghouse to save his company. Tesla’s selflessness was a testament not only to his generosity and goodwill, but his belief in his ability to continue to create his future.”
―
Nikola Tesla: Imagination and the Man That Invented the 20th Century
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