Encyclopedia > Cornelius Vanderbilt

  Article Content

Cornelius Vanderbilt

Cornelius Vanderbilt, (May 27, 1794 - January 4, 1877), was an American capitalist who built his wealth in shipping.

As a young boy, Vanderbilt worked on ferries in New York City, quitting school at age 11. By age 16, he was operating his own business, ferrying freight and passengers. By 1830, his business had expanded to the Hudson River. Soon he controlled coastal trade along the entire coast of New England. During the California Gold Rush, he ran a steamship line from New York to Calfornia via Nicaragua.

In the early 1860s, Vanderbilt started withdrawing capital from steamships and investing in railroads. By 1867, he owned the New York Central and Harlem railroads. By 1873, he had connected Chicago to New York City.

He founded Vanderbilt University with a grant of $1 million.

At the time of his death, Vanderbilt, at a net worth of about $100 million, was the richest man in the world.



All Wikipedia text is available under the terms of the GNU Free Documentation License

 
  Search Encyclopedia

Search over one million articles, find something about almost anything!
 
 
  
  Featured Article
Sanskrit language

... has a voiceless, voiceless aspirate, voiced, voiced aspirate, and nasal stop at each of the following places of articulation: Velar (soft palate[?]) (k, kh, g, gh, ...

 
 
 
This page was created in 34.7 ms