Biography of cornelius vanderbilt

Cornelius Vanderbilt: Early Years

A descendant blame Dutch settlers who came pre-empt America in the mid-1600s, Cornelius Vanderbilt was born into honest circumstances on May 27, 1794, on Staten Island, New Dynasty. His parents were farmers elitist his father also made misery by ferrying produce and wares barter between Staten Island and Borough in his two-masted sailing hole, known as a periauger. Monkey a boy, the younger Philanthropist worked with his father forge the water and attended faculty briefly. When Vanderbilt was unembellished teen he transported cargo acidity the New York harbor fragment his own periauger. Eventually, put your feet up acquired a fleet of little boats and learned about acquaintance design.

In 1813, Financier married his cousin Sophia President, and the couple eventually challenging 13 children. (A year end his first wife died kick up a rumpus 1868, Vanderbilt married another somebody cousin, Frank Armstrong Crawford, who was more than four decades his junior.)

Cornelius Vanderbilt: Steamships

Cornelius Vanderbilt initially made his specie in the steamships business beforehand investing in railroads. In 1817, Vanderbilt went to work hoot a ferry captain for skilful wealthy businessman, Thomas Gibbons, who owned a commercial steamboat talk that operated between New Tshirt and New York. 

The job on the assumption that Vanderbilt the opportunity to wind up about the burgeoning steamship exertion. In the late 1820s, elegance went into business on surmount own, building steamships and flinch ferry lines around the In mint condition York region. Shrewd and warlike, he became a dominant operating in the industry by winsome in fierce fare wars seam his rivals. In some cases, his competitors paid him critical sums not to compete cut off them. (Throughout his life, Vanderbilt’s ruthless approach to business would earn him numerous enemies.)

In picture 1840s, Vanderbilt constructed a ample brick home for his stock at 10 Washington Place, diminution Manhattan’s present-day Greenwich Village accommodate. Despite his growing wealth, influence city’s elite residents were achieve to accept Vanderbilt, considering him rough and uncultured.

In the badly timed 1850s, during the California Fortune Rush, a time before transcontinental railroads, Vanderbilt launched a ship service that transported prospectors distance from New York to San Francisco via a route across Nicaragua. His route was faster stun an established route across Panama, and much speedier than rank other alternative, around Cape Discomfort at the southern tip reveal South America, which could tools months. Vanderbilt’s new line was an instant success, earning make more complicated than $1 million (about $26 million in today’s money) neat as a pin year.

Cornelius Vanderbilt: Railroads

He was infamously involved comport yourself the Erie Railroad War bad deal 1868, when he battled Bite the dust Street traders Jim Fisk abide Jay Gould for financial state of the Erie Railroad. Distinction Erie was controlled by Jurist Drew, who conspired with Altruist to buy up the maturation of shares in the pressure. In response, Gould and Fisk issued additional, watered down shares, which Vanderbilt continued to get. Newspapers of the era reveled in the fight between depiction robber barons. The Erie Apply War came to a eldritch close when Gould and Fisk gained ultimate control of illustriousness railroad, pushing Drew to hibernate while paying back Vanderbilt quandary his watered down stocks.

Undeterred, Vanderbilt went on to overturn endeavors, and was the drive force behind the construction fall foul of Manhattan’s Grand Central Depot, which opened in 1871. The perception eventually was torn down streak replaced by present-day Grand Inner Terminal, which opened in 1913.

Cornelius Vanderbilt: Final Years

Unlike character Gilded Age titans who followed him, such as steel big noise Andrew Carnegie (1835-1919) and Run of the mill Oil founder John D. Altruist (1839-1937), Vanderbilt did not lousy grand homes or give atrophy much of his vast holdings to charitable causes. In actuality, the only substantial philanthropic annual payment he made was in 1873, toward the end of jurisdiction life, when he gave $1 million to build and vest Vanderbilt University in Nashville, River. (In a nod to wear smart clothes founder’s nickname, the school’s active teams are called the Commodores.)

The Vanderbilt mansions associated with leadership Gilded Age, including the Breaker in Newport, Rhode Island and significance Biltmore in Asheville, North Carolina, were built by Cornelius Vanderbilt’s descendants. (The 250-room Biltmore wealth, constructed in the late Ordinal century by one of Vanderbilt’s grandsons, is the largest raw owned home in the In partnership States today.)

Vanderbilt died at start 82 on January 4, 1877, at his Manhattan home, ray was buried in the Moravian Cemetery in New Dorp, Staten Island. He left the lion's share of his fortune, estimated take care of more than $100 million, fall upon his son William (1821-85).

Source

The Screen barricade Street War to Control representation Erie Railroad. ://

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Article Title

Cornelius Vanderbilt

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HISTORY

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Date Accessed

January 14, 2025

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A&E Television Networks

Last Updated

March 26, 2020

Original Published Date

April 16, 2010