Tesla made the rounds in New York trying to find investors for what he thought would be a viable system of wireless transmission, wining and dining them at the Waldorf-Astoria's Palm Garden (the hotel where he was living at the time), The Players Club, and Delmonico's. In March 1901, he obtained $150,000 ($ in today's dollars) from J. P. Morgan in return for a 51% share of any generated wireless patents, and began planning the Wardenclyffe Tower facility to be built in Shoreham, New York, east of the city on the North Shore of Long Island.
Tesla made the rounds in New York trying to find investors for what he thought would be a viable system of wireless transmission, wining and dining them at the Waldorf-Astoria's Palm Garden (the hotel where he was living at the time), The Players Club, and Delmonico's. In March 1901, he obtained $150,000 ($ in today's dollars) from J P Morgan in return for a 51% share of any generated wireless patents, and began planning the Wardenclyffe Tower facility to be built in Shoreham New York, east of the city on the North Shore of Long Island.