The bull was cast by the Bedi-Makky Art Foundry in Greenpoint, Brooklyn. Di Modica spent $360,000 to create, cast, and install the sculpture following the 1987 stock market crash. The sculpture was Di Modica's idea. Having arrived penniless in the United States in 1970, Di Modica felt indebted to the nation for welcoming him and enabling his career as a successful sculptor. "Charging Bull" was intended to inspire each person who came into contact with it to carry on fighting through the hard times after the 1987 stock market crash. Di Modica later recounted to art scribe Anthony Haden-Guest "My point was to show people that if you want to do something in a moment things are very bad, you can do it. You can do it by yourself. My point was that you must be strong".