He held the post for seven years and performed well enough to be considered for further promotion. Despite his youth, he had demonstrated his strength in several general elections when he had been able to get as many as 20 MPs elected to seats that he controlled through his family's wealth and political patronage. He survived in the office during the turmoil in the Whigs between 1717 and 1721, and his switch of allegiance to Walpole secured his influence thereafter. Walpole had overseen a brief end to the rift between the Whig factions after the collapse of the South Sea Company, which had left thousands ruined. Newcastle himself had lost £4,000. Walpole was then seen as the only man to bring stability to the country and the Whigs, and he was granted unprecedented powers, effectively making him the first Prime Minister of Great Britain.