Cornelius Vanderbilt was born on May 27, 1794, in Port Richmond area of Staten Island, New York. He was born into a poor family; owning a small farm with his illiterate father working the land and being a ferryman. Providing low level transportation services. Cornelius then dropped out of his education at age 11 to go work for his father to support his family in the farm and at the waterfront. As he was working with boats and as well as the sea; it was from that point on that Cornelius had an interest in the shipping business.
Having a strong mind like Vanderbilt is admirable among many; however, his brilliant and creative mindset made him stand out above others. Not only did this man set out to monopolize the steamboat industry, but he followed the trends of the economy as well. Seeing the opportunity to invest in an exponentially growing market, Vanderbilt decided to begin his journey with the railroad. In early America, seizing the chances you had as a businessman were
Although Cornelius Vanderbilt died just as the Gilded Age began, he is included in that era’s history because of his phenomenal wealth and lasting legacy. Cornelius Vanderbilt was considered the first robber baron, a businessman who get wealthy by unethical means. Cornelius Vanderbilt was born of modest means and had very humble beginnings. His father was a farmer and ferryman so his first experience as a businessman was a ferry business which he started on his own after his father declined his request of expanding the family business. He started his own business with a loan from his mother and became a direct rival of his father’s business.
In the 19th century, individuals became incredibly wealthy due to the rapid expansion of railroads throughout the United States. These railroad tycoons amassed fortunes by investing in and controlling the transportation industry. The development of railroads allowed for faster and more efficient transportation of goods and people, ultimately leading to the growth of cities and industries across the country. There is no denying the significant impact these individuals had on American history and the economy. Cornelius Vanderbilt, also known as the "Commodore," was a prominent figure in American business during the 19th century.
Was John D. Rockefeller a robber baron? I’d say so. Through ruthless business tactics and exploitation of workers, he made a fortune in his lifetime. In this paper, I’m going to be talking about said business tactics and exploitation. If you believe Rockefeller was just a good business man who donated to the poor, I hope your view will be changed by the end.
Vanderbilt was an american business magnate and philanthropist who built his wealth in railroads and shipping. He also had a university called vanderbilt university. He began to engage in boating. When he was young he developed a love for water and quit school and started working for his father. Once he turned sixteen he persuaded his mother to give him $100 dollars for a boat.
Cornelius Vanderbilt was well known for his intelligence in the business industry. Vanderbilt originally made his money off of steamships, but eventually changed his path to the railroad industry. Many people perceived Vanderbilt as a Captain of Industry; however, others perceived him as a Robber Baron. Nevertheless, Vanderbilt was one of the most well known business leaders of his time, which is still talked about today. In May of 1794 Cornelius Vanderbilt was born to Cornelius Vanderbilt and Phebe Hand Vanderbilt on Staten Island, New York.
When Cornelius Vanderbilt died he left his $100 million fortune to his son William Vanderbilt and they both had the same attitude. During the Gilded Age these big business and their owners were thought of as being Robber Barons or Captains of Industry. The poor working conditions that were provided, the corruption they led in government, and their use of child labor shows that they were Robber Barons. Children were used in labor to work a lot and most days of the week. Kids as young as 5 often worked as much as 12 to 14 hours a day for barely any pay.
Some historians have characterized the industrial and business leaders of the 1865—1900 period as "robber barons," who used extreme methods to control and concentrate wealth and power. This is shown very prevalent in this historical information through economic relations with power as well as striving for both political and social control. Robber Barons were extremists who used tactics to become the apex of the wealth pyramid. For example, William Vanderbilt, father of Cornelius Vanderbilt, used strategies to become the number 1. Monopolizing huge industries through the formation of trusts, running competitors out of business, paying low wages, these were just some methods that Robber Barons would use.
His parents were common farmer's (H.2010). Growing up Vanderbilt barely went to school (H.2010). Cornelius eventually had his own group of small boats and he learned all about ships (H.2010). He married his cousin in 1813 and they had 13 children together (H.2010). Vanderbilt started building his empire with steamboats (H.2010).
Overall, I thought that the term Robber Barron to describe Cornelius Vanderbilt was justified. For example, in the article Robber Barons or Captains of Industry, we learned that Vanderbilt was “one who either destroyed his enemies or extracted a ransom in return for leaving a market”. Basically, he was so competitive that he ran other business out of the market in order gain more wealth. Even though he helped the economy with building steamships and providing transportation of goods though the railroad systems he still was looked at in a negative way because of how competitive and ruthless he was. I thought that Andrew Carnegie was more like a captain of industry because he was more focused on bettering society as a whole rather than just
Money. Everyone wants it but doesn’t want to work for it. It’s a common necessity in everyday life and it always will be. These two gentlemen took their passion for money and obtaining fine things and turned it into a profession. Cornelius Vanderbilt and Ted Waitt both had similarities and differences, both strong and weak.
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.
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.
Robber Barons and Captains of Industry Some might believe that the businessmen of the Gilded age are robber barons because of how some of them treated their workers and spent their money. The businessmen of the Gilded Age were captains of industry because of the impact that they made on the country. Carnegie, Rockefeller, Morgan, and Vanderbilt all have done things that can identify them as captains of industry. These businessmen gave their time and effort to help the economy grow.
