Cornelius Vanderbilt’s profile picture

Cornelius Vanderbilt

Business Tycoon & Philanthropist
Cornelius Vanderbilt’s profile picture
Net worth 2018: $1.2 Million
Industry: Business People
Residence: Staten Island
Country: United States
BirthDay: 27 May 1794
Sigh: Gemini
Died On: January 4, 1877

Cornelius Vanderbilt was bornon 27 May 1794 in Staten Island, American, is Business Tycoon & Philanthropist. Cornelius Vanderbilt was an American business tycoon and philanthropist known for amassing his fortune in railroads and shipping. One of the richest persons in the history of United States, Vanderbilt is most recognized for building the New York Central Railroad. Born into a poor family in Staten Island, New York, Cornelius left studies at the age of 11 and became involved in his father’s ferry business. Afterwards, he bought a sailboat and started his own ferry business, which soon became profitable as a result of his business acumen. Later, upon recognizing the superiority of steam over sailing vessels, he became a captain on a steam ferry between New York and New Brunswick. Subsequently, he started his own transatlantic steam-shipping business, covering most of the Hudson River traffic. Later, he turned his attention more and more towards the business of development of railroads, which was beginning to grow in the Unites States. He served as a director, and then the president, of the New York & Harlem railroad company, bringing a great deal of perfection in the services. Later, upon becoming the president of the New York Central railroad, he merged it with the Hudson River railroad, giving rise to one of the first giant corporations in American history. Also a leading philanthropist, he endowed a large sum for the construction of Vanderbilt University and donated generously to the churches. Deemed as one of America's leading capitalists, Vanderbilt is aptly credited for shaping the present-day United States.


Cornelius Vanderbilt died on January 4, 1877, at his home in New York, U


In 1870, he consolidated two of his key lines into the New York Central and Hudson River Railroad, one of the first giant corporations in the history of America


In 1869, he tied the knot with Frances Armstrong Crawford, a distant cousin from Alabama who was 45 years younger than him


They had 13 children and the couple remained together until the death of Sophia in 1868


In 1867, Vanderbilt acquired the Central Railroad and merged it with the other railroads he held


After getting hold of the Long Island Railroad, he acquired a controlling interest in the Hudson River railway in 1864 and the following year, became its president


In the 1860s, Vanderbilt seized another business opportunity and shifted his focus from shipping to the railroad industry, which was entering a period of great expansion in the United States


In 1859, he established the Atlantic & Pacific Steamship Company


Eventually, his business controlled most of the Hudson River traffic and by the mid-1840s, Vanderbilt was operating with a fleet of over 100 steamboats


In the 1820s, Vanderbilt started his own company, building steamships and operating ferry lines around the New York region


Upon spotting the emergence of steam vessels in the sea transportation business, in 1817, Vanderbilt sold his sailing vessels and started working, as a steamboat captain, in partnership with Thomas Gibbons, operating a ferry service from New Jersey to New York


Between 1814 and 1818, he expanded the business with additional boats for freight and passenger services in Long Island Sound, and in the coastal trade from New England to Charleston in South Carolina


In December 1813, Vanderbilt married Sophia Johnson, his first cousin


Subsequently, his business grew and during the War of 1812, he managed to acquire a government contract to provide supplies to forts along the Hudson River


Cornelius Vanderbilt was born on May 27, 1794, in Port Richmond, Staten Island, New York, to Cornelius van Derbilt, a seaman, and his wife, Phebe Hand

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