Cornelius Vanderbilt
A ruthless shipping and railroad magnate whose cutthroat competitiveness built a colossal fortune and reshaped American transportation.
1794–1877 (age 83)·American business tycoon·Birthday: May 27
Biography
Cornelius Vanderbilt began with a single ferry boat in New York Harbor and died the richest man in America. A barely educated son of Staten Island, he earned the nickname 'Commodore' by dominating the steamboat trade through savage rate wars and superior service. In middle age, with steamship riches secured, he cannily bet his entire fortune on the future of railroads. He battled for control of key lines, famously locking horns with Jay Gould in a war for the Erie, and ultimately consolidated the chaotic New York rail system into the New York Central Railroad. Vanderbilt's methods were brutal and often corrupt, but his vision created the first major railroad trunk line, linking New York to Chicago and accelerating the nation's industrial growth. His legacy was a vast fortune and a family name that would define the Gilded Age.
#1 When Cornelius Was Born
The biggest hits of 1794
Cornelius's Life & Times
The world at every milestone
1794Born
1799Started school
1807Became a teenager
1810Could drive
1812Could vote
1815Turned 21
1824Turned 30
1834Turned 40
1844Turned 50
1854Turned 60
1864Turned 70
President: Abraham Lincoln
1874Turned 80
President: Ulysses S. Grant
1877Died at 83
President: Rutherford B. Hayes
Key Achievements
- He consolidated several smaller railroads to form the New York Central Railroad, one of the nation's most important transportation systems.
- He established the first direct rail service between New York City and Chicago, revolutionizing freight and passenger travel.
- He built a shipping empire that dominated traffic along the Atlantic coast and to California via Nicaragua.
- At his death, his fortune of over $100 million was the largest accumulation of wealth in American history at that time.
Did You Know?
He donated $1 million to found Vanderbilt University in Nashville, Tennessee, the largest philanthropic gift in American history at that time.
He famously said, 'Law! What do I care about law? Hain't I got the power?' during one of his corporate battles.
He left nearly his entire fortune to his son William, advising him to 'keep the money together,' and gave comparatively small amounts to his other children.
He was a notorious workaholic who remained actively involved in his business dealings until the last weeks of his life.
“Law? What do I care about law? Hain't I got the power?”
