Moses Polydore Millaud, Moïse Polydore Millaud, was a journalist, banker and entrepreneur who founded Le Petit Journal, at one time the leading newspaper in France.
Family life
Millaud was born in Bordeaux, to Felicity and Jassuda Millaud 1, Jewish merchants originally from the Papal States who originally sold horses. Self-taught, he became a clerk to a bailiff and in 1833 founded his first newspaper in Bordeaux, Le Lutin. Moses wrote articles under the pseudonym Duallim an anagram of Millaud. His son was the journalist, writer and playwright Albert Millaud. His daughter Blanche was the wife of George Silva, the editor of the Journal des Voyageurs.
Career - banking and journalism
In 1836, Moïse Millaud moved to Paris and founded Le Gamin de Paris, the first newspaper sold exclusively at the door of the theatre, and Le Négociateur, an exclusively financial newspaper. In 1839, he founded L’Audience, a legal gazette appearing on Monday, then in 1848 La Liberté, supporting Napoleon III. In 1848 Millaud became associated with fellow banker Jules Mirès. They established the paper "Le Conseiller du Peuple," and went on to found two banking institutions. In October 1848 they bought the Journal des Chemins de Fer which was to become the Journal des Voyageurs, a force in finance and speculation. Subsequently the companies Caisses des Actions Réunies and Caisses des Chemins de Fer merged to become Crédit Mobilier, generating three million francs each for Mirès and Millaud in 1853. In 1854 he founded a property company to develop land in Paris, which made his fortune. He also bought the newspaper Le Dock renaming it Le Journal des actionnaires , and created the Caisse Générale des actionnaires capitalised at 25 million francs and with the object of publicising his banking activity. Also in 1854, Millaud bought the rights of La Presse from Émile de Girardin, and throughout 1856 and 1857 hosted lavish feasts for journalists and other influential men in his hotel in the Rue Saint-Georges. In February 1857 he hosted a banquet for the Goncourt brothers, but later that year he was faced with financial difficulties and sold the newspaper to Felix Solar. In 1854, he recruited his nephew Alphonse, the son of his brother Joseph, who worked on both La Presse and Le Journal des actionnaires. In 1863, his master stroke was the foundation of the best-selling newspaper Le Petit Journal which was managed by his nephew Alfonso. He confided to Hippolyte de Villemessant that "We must have the courage to be silly,". In 1864, he founded Le Journal illustré and in October 1865 he launched Le Soleil. He also created the Le Journal littéraire and Le Journal politique de la semaine.
Millaud was caught in numerous financial scandals, including those of Nassau Railroad in 1860 and Shareholders' Fund in 1861. His nephew Alphonse tried to settle the debts of his uncle, including through fraudulent partnerships of Le Petit Journal involving 4000 shares of 500 francs each, a value of 2 million francs, but estimated at 100,000. Alphonse was sentenced June 13, 1875. At Millaud's death, his son Albert, his nephew and his son Alfonso took over the Le Petit Journal, but financial problems led Émile de Girardin to resume governance.
