A robber baron is described as a person, most likely a businessman, who handled their power to progress industrial monopolies, obtaining power from politics, and finally gaining wealth in the process. Whereas, a captain of industry is recognized as a business leader who contributed positively to their own country. Many questions asked, an important one is, “Are Cornelius Vanderbilt, J.P. Morgan, Andrew Carnegie, and John D. Rockefeller, robber barons or captains of industry?” During the nineteenth century, there were many methods in which the following business men used. For an example, monopoly, a hand in politics, or other unusual business practices.
Napoleon of Wall Street J.P. Morgan was the most influential person in mid 1800 - early 1900s. He became the most powerful man in america who was only challenged by Andrew Carnegie and J.D. Rockefeller, together these men are worth 1 trillion dollars in today’s money - that's more than the top 40% combined wealth today. Morgan saved the US government twice - really he saved American business twice. He took the over expanded railroad and made it profitable, took Edison’s D.C. current and Tessa’s A.C. current combining them into General Electric lighting homes across America, bought Andrew Carnegie's steel business making into US Steel hoisting the company profit to 1 billion - for the first time in American history. J. Pierpont Morgan was
J. P. Morgan was a powerful and influential banker of his time. He was a big time financier for many companies and was involved in many industries. Morgan did business with the railroads, holding shares and handling financing. By involving himself in the railroad he enlarged his bank’s wealth and his own personal power. Morgan had invested in the Edison Electric Illuminating Company which gave electricity to some individuals in New York City.
Vanderbilt and Rockefeller both transformed the country. Both men had huge impacts on the country and how they transformed the industry of America. Vanderbilt started his business at the age of 16 where he bought his first ferry with a loan of 100 dollars he was a hard and smart businessman \which made him 40 years later have the largest shipping company in the world. Seeing that railroads were being built and knowing they were gonna change how goods will be shipped forever he sold all his ships and invested everything into the railroad business. Which payed off then tragedy struck him when his favorite and smartest son died in the civil war.
These successful businessmen also stole each other's businesses. Rockefeller purchased a steel mine out from under Andrew Carnegie, the leader in steel. John P. Morgan purchased Carnegie's business completely for four hundred eighty million dollars in 1901, changing the name to U.S. Steel. The men who built America used their mass amounts of money to get what they wanted done, done. For
He made his mark on America. John D. Rockefeller practically lit up the country with his company, Standard Oil. In eighteen-seventy Rockefeller started his company with a group of men, although he was the president considering he was the largest shareholder. His company founded the chemical that was the was very flammable, called Kerosene, that was put into lanterns or streets to help light your home and make the street more visible. Standard Oil began to buy out other companies and began to sell and distribute their products all over the globe, which made them a monopoly.
Rockefeller was also one of the most successful wealthy Gilded Age entrepreneurs. Although Rockefeller did make a name for himself in the oil industry,supplying the U.S with oil, and creating the Standard Oil Company;his road to power was paved with the pain and suffering of others due to his malicious behavior. He should be remembered as a Robber Baron because of his attempts at monopoly, malicious behavior to those who stood in his way, and especially the treatment of his workers in order to get the wealth he desired. J.D. Rockefeller used tactics such as vertical integration, using rebates to transport his oil for cheaper prices, and using ruthless methods to eliminate the competition. Rockefellers ruthlessness lead him to be very successful up until his fatal encountered with Ida Tarbell.
Rockefeller ultimately controlled most of the production in the United Stated during their prime. Carnegie took over the steel industry while Rockefeller had controlled the majority of the oil industry, by the end of the 19th century America ultimately dominated both aspects. Both businessmen were also very well known for their contributions to philanthropy and ushering in a new age of American economic history. Moreover, the firm J.P. Morgan was considered to be a household name within the banking industry, the firm allowed for Americans to be financially secure and invest their hard earned money in stocks and bonds. Americans increased investing meant more revenue and taxes for the United States, financial security was crucial during this time due to the unforeseen collapse of the stock exchange, after the crash many Americans lost all their money and banks were forced to shut down meaning that they had to start back at square one.
The man had the biggest yacht of his time and one of the biggest personal art collections of the time. A kind and powerful person- one who saved the lives of many in america just by being a wise investor and a powerful leader. J.P.Morgan saved the economy several times and was one of if not the most important person during the Gilded Age stabilizing the economy in
Rockefeller: The Captain of Industry that has helped our country thrive “The best philanthropy” he wrote, is constantly in search of finalities- a search for a cause an attempt to cure evils at their source” - John D. Rockefeller John D. Rockefeller was the richest man of his time but, used his wealth to improve our country. Rockefeller entered the fledgling Oil industry in 1863, by investing in a factory in Cleveland, Ohio. In 1870 Rockefeller established the Standard Oil Company. With the establishment of the oil company Rockefeller controlled 90% of the oil business in America by 1880.
Using his excess of wealth John Pierpoint Morgan, a successful banker and owner of U.S. Steel, helped the economy, revolutionized the steel industry and to a few favored causes was a generous philanthropist. Junius Spencer Morgan, father of John Pierpoint Morgan was a successful international banker who would leave behind a large fortune to his son. John Pierpoint Morgan would follow in his father’s footsteps and become a successful banker. John Pierpoint Morgan was the owner of U.S. Steel, the world's first billion dollar corporation. John Pierpoint Morgan used his monetary influence in many ways that affected America, he helped pull the economy out of collapse in 1907, became a philanthropist to a few favored causes and would later become
Rockefeller. He governed 95% of America’s oil refineries by 1877. He rapidly became the wealthiest man in the country. He was only one of many that had developed trusts in the United States. Other trusts include the steel, banks, sugar, tobacco, and leather.
John D. Rockefeller Sr: How did John D. Rockefeller impact the Industrial Revolution John Davison Rockefeller Sr. once stated “If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success” (John D. Rockefeller Quotes). John D. Rockefeller was the founder of Standard Oil in which then became one of the wealthiest men in the world. Rockefellers ongoing funding as a philanthropist and trust in oil is how the man's name still lives on to this day (The Rockefeller Archive Center). For thousands of years oil has been a main resource for human consumption, and remains the same.
John D. Rockefeller has been famously referred as not only the richest man of his time, but quite possibly the richest man in all of U.S. history. Starting off his oil company, Standard Oil, with only 5% of the nation's total oil, Rockefeller grew his company into a monopoly in the span of just 10 years, then owning 90% of the nation's total oil. Although his success was great, it wasn’t entirely done
These individuals effect on society is debated. Some view them as cold-hearted “robber barons” that dominate the economy for personal gain. John D. Rockefeller, owner of the Standard Oil Company, for example, is known for his harsh business tactics and use of horizontal integration to acquire a monopoly over the industry. Others see them as generous philanthropists. For instance, Andrew Carnegie, the owner of U.S. Steel Corporation, though extremely rich, was incredibly charitable and often donated his wealth to public institutions.
