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In the Beginning:

In conclusion

  • Cornelius was the son of a poor farmer and boatman.
  • He quit school when he was 11 to help his father.
  • When Cornelius was 16 he bought his first boat for $100, this money was a loan from his parents.
  • Using this boat he opened a ferry service, the ferry ran to New York City.
  • He then entered into the railroad business in 1857.
  • Vanderbilt was a ruthless and cunning businessman who could not be stopped.
  • He monopolized transport in America to make his massive fortune.
  • Manipulated markets to benefit himself.
  • Stabbed business partners in the back to gain more profit.
  • Donated many things to keep a good public image.
  • One of the key players in establishing a more industrial run America.

Cornelius Vanderbilt

Cornelius the Robber Baron

Vanderbilt's Empire

  • He crushed competitors
  • Ruthless in his relationships
  • Rigged markets
  • Corrupted governments
  • He was considered a monopolist
  • Cornelius Vanderbilt’s transport empire made him one of the richest men in history.
  • He started his empire by running a ferry across the new york harbor and building his empire in regional transport.
  • In 1847 he expanded into the rail business by taking over presidency of the stonington rail line.
  • He expanded into the realm of oceangoing steamships.
  • After the civil war Vanderbilt sold all his steamships and bought up more rail companies and started one of the first corporations.
  • His net worth was105 million at the time of his death (equivalent to approximately $2,325,421,875 in 2015 dollars)

How did Cornelius Vanderbilt impact the American people?

The Vanderbilt steamship

Positive effects

Negative effects

  • Monopolized transcontinental railway raising prices for citizens.
  • Manipulated stock prices to his benefit Causing economic hardship’s.
  • Continuously betrayed business partners to eliminate competition.
  • In January 1867 he cut off Manhattan from the rest of America to settle a business dispute.

  • Donated 1 million dollars to vanderbilt university, largest donation to date.
  • Donated many churches around New York.
  • Donated his largest steamship to the union navy during the civil war.
  • Disbanded a monopoly of steam ships in New York.

One of many railroads

owned by Vanderbilt

Cornelius Vanderbilt

Bibliography

http://www.gilderlehrman.org/history-by-era/gilded-age/essays/robber-barons-or-captains-industry

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