Circling the News: Homeless California Gold Rush - Nonprofits Panning for Money

During the California Gold Rush, there were 624 miners for every 1,000 people. But, it wasn’t the goldminers that made millions, it was the businessmen providing services.

The 1850s millionaires included Samuel Branan, a journalist and businessman, who opened supply stores in the gold fields and sold equipment. Thomas Larkin finance voyages that brought clothes and food to San Francisco. Levi Strauss of Levi Strauss & Co. who established a dry good business in San Francisco.

Nothing’s changed in 175 years. It’s still the businesses (nonprofits) providing the services, that making the money. Here’s how today’s gold rush works.

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