Benjamin Guggenheim was born October 26, 1865, in
Philadelphia, Pennsylvania, the fifth of seven sons, to
Meyer Guggenheim, a businessman who later became a
mining magnate, and Barbara "Babette" Guggenheim (
née Meyer; 1834–1900), both being originally from
Lengnau, Aargau, Switzerland, having emigrated to Philadelphia in 1847. He was of
Swiss Jewish descent with his ancestry deeply rooted in the villages of Lengnau and
Endingen, Aargau. His paternal grandfather, Simon Meyer Guggenheim (1792–1869), a tailor by trade, wanted to marry for a second time, which was not permitted by Swiss authorities as they ruled the family being too poor. That was the ultimate reason for emigration. Benjamin was the first member of his family to enter an institute of higher learning-he entered
Columbia College in 1882, matriculating with the class of 1887. However, he found most of his courses boring and dropped out after his second year. He also attended the Peirce School of Business (now
Peirce College), then one of the most prominent business schools in the country. == Personal life ==