ipl-logo

Compare And Contrast Vanderbilt And Rockefeller

490 Words2 Pages

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. Had to teach his other son how to run the business. Other railroad companies thinking him old and weak tried to hustle him and manipulate him. He played them and closed the only railroad bridge into new york city which he owned. He then started building his empire even larger buying other railroads …show more content…

Using this profit he buys out every other refinery company all his rivals. At the age 33 he is the most powerful man in the country. Vanderbilt seeing this gets another railroad to pull all their contracts with rockefeller and make him pay more rates rockefeller seeing this finds out he can use pipelines for large distance transportation taking the railroads out of the business. This causes the stock exchange to close causing the first nationwide depression causing many workers to lose jobs. Rockefeller then buys the remaining portion of his competition for very low prices owning 98% of all oil refineries. At the end of the depression vanderbilt died at the age of 82 and left all his business to his son. Rockefeller knows that vanderbilt made him into the man he is. Vanderbilt then shut down any other competition that tired to go against him resulting him in being worth 225 billion dollars in today's

Show More
Related
250 Words | 1 Pages

Rockefeller's Standard Oil Company revolutionized the oil industry by creating a modern, efficient integrated business model that helped to lower the cost of oil production and distribution, so he could reinvest into his company. Carnegie's steel empire not only transformed the steel

Read More
238 Words | 1 Pages

All this industry produced a lot of wealth for several businessmen like Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, and J.P. Morgan. These men were well-known as the “Captains of Industry”. Cornelius Vanderbilt also known as “The Commodore” built on of the largest shipping empires in the world. In his early years he was a steamboat manager and entrepreneur. He decided to sell all his ships and invest his money into railroads.

Read More
440 Words | 2 Pages

He initially owned a steamship company before focusing on the railroad industry. At the height of his success, he controlled 40% of all the nation's railroads.

Read More
812 Words | 4 Pages

He bought out many railways to connecting routes with whom he had conflicts with which increased his range of transportation. He also incorporated lower rates with better service. With the advancement of connecting railways farmers were mad because they had to compete with a larger range of other farmers and deal with increasing transport prices. Next there is Rockefeller who used Vanderbilt’s tactics to dominate the oil industry. He bought out rival refineries and created the first American monopoly called Standard Oil Company, which he was the over seer.

Read More
313 Words | 2 Pages

One impact of technological innovations is the transcontinental railroad and the advancement in railroad businesses thanks to Cornelius Vanderbilt. Due to the power of Vanderbilt he nearly transformed transportation as they knew it. Vanderbilt had many railroads going all over the country and so much power over the railroad business. He ran a monopoly on the railroad industry while still having some competition. Vanderbilt had bought out every competitor he had and thought himself unstoppable, till one day some people at the stock market created and created "fake" stocks in a certain rail company.

Read More
802 Words | 4 Pages

Cornelius Vanderbilt was a smart business man which caught people’s attention. He used low fares which made people use his company. Using low fares made his company sky rock threw the roof and just after 5 years he made over 25 millions dollars just from the railroad company (Gale 1). After his success he expanded the rails to the west. This was a big turning point for the railroad company, not only will it bring in more money to the company it will also have people travel farther instead of having short railroads, where they won't bring in more money and he created system spanning several states lowered costs, which increased efficiency, and sped up travel and shipment of goods (Gale 1).

Read More
338 Words | 2 Pages

Cornelius Vanderbilt Cornelius V. helped with railroad transportation, he was known as being the largest steamship operations in his country. In the 1860’s he built an empire, this empire helped with railroad transportation. Before he built an empire he decided to focus on the railroad industry. Before he worked on railroad transportation he was a steamship captain. Cornelius had a very illiberal personality also known as a competitive person.

Read More
250 Words | 1 Pages

Competition and rivalry ran through both Andrew Carnegie and John Rockefeller from their first breath to their last. After the two came together to mourn the loss of JP Morgan it was a reminder that time was running short. This triggered a new purpose and one last competition between Carnegie and Rockefeller no longer was it who could make more money it was who could give the most money away. Philanthropy became the last mission for both. Andrew Carnegie believed the man who dies rich dies disgraced Rockefeller wasn’t going to be bested by his longtime rival, the competition began.

Read More
992 Words | 4 Pages

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.

Read More
911 Words | 4 Pages

He used his boat to ferry passengers and goods between Staten Island and Manhattan… Selling his ferry business, Vanderbilt went to work for Thomas Gibbons in 1817, running a steam ship line between New York and New Jersey. Over 12 years, Vanderbilt became an expert in the operation and design of steam ships. He 1829, he resigned to launch his own business… He sold his interest in steamers and turned to Wall Street, the financial heart of the nation in New York. In a short period of time, he quietly bought up a number of railroads to form the New York Central and Hudson River line, one of the largest businesses America had ever seen.

Read More
1371 Words | 6 Pages

Rockefeller has made an impact on the industrial revolution by changing and monopolizing the oil industry to bigger and better ideas. His funding to major organizations and schools, and motivation towards younger generations to push forward with his

Read More
864 Words | 4 Pages

But the profit of building the railroads was hit and the railway industry began to decline. Railway was an urgent need to operating the goods but there wasn’t enough traffic to sustain them. Oil was another lucrative business during the Gilded Age. John Rockefeller saw an opportunity that seemingly everything required oil during this era: factory, machines, ships, and, later, automobiles. The application of oil made the train speeded up.

Read More
964 Words | 4 Pages

Was Cornelius Vanderbilt a Robber Baron or Captain of Industry? A cruel businessman or an industrious leader? Henry J. Raymond believed that Vanderbilt was “a monopolist that crushed other competitors”(T.J Stiles). While he is also deemed one of America’s leading businessmen, and is also credited for helping shape the United States. His fortunes were made unfairly in some cases but his million dollar contribution to the Navy was very generous.

Read More
459 Words | 2 Pages

Coming with a successful business is people trying to find faults in your greatness. Rockefeller was a Captain of Industry, he helped improve the inventions we already had by making oil more readily available. By doing this he made a fortune which made people believe that he was unable to be trusted, but all of these suspicions were incorrect, Rockefeller made his money honestly and helped our country thrive and become who we are today. Rockefeller had competition in the oil industry but,

Read More
1406 Words | 6 Pages

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.

Read More

More about Compare And Contrast Vanderbilt And Rockefeller

Open Document