Cornelius Vanderbilt – a Heartless Businessman

This essay will argue that although Vanderbilt is seen as one of the most successful men in American history, he was in fact an evil and heartless businessman. This is evidenced by him shutting down the biggest railroad port. He shouldn't be seen as a good person because he shut down one of the biggest railroads which caused a lot of commotion. Vanderbilt was known to be the most successful man but what people don't know is that he started by taking 100 dollars from his mother and piloting a passenger boat on an island. He started with steam boats and then built the railroad, but was not a good man to work with.

As you know Vanderbilt was known to be the most successful man but he started by taking 100 dollars from his mother. Vanderbilt took this trait from his mother spending less than you earn and then saving and investing the difference. He controlled his money, investing and spending it wisely while looking for value in every dollar he spent. Vanderbilt grew his empire without debt. He never borrowed money. Not once. Almost until the day he died, when was never accepted by the wealthy class because he never flaunted his money or his wealth. Vanderbilt invested his profits in steamboats, he lent his money to other businessmen, he bought real estate, and he purchased stock in private corporations. He personally invested millions in building Grand Central Station, one of the largest train depots in the world. He did not come for money, however he was self-made, while that habits he practiced for throughout his life, such as living below his means helped him take care of his health. When he died, Vanderbilt’s estate was estimated to be worth $100,000,000. That was back in 1877. In today’s dollars, that would be approximately $2.3 billion, making him the richest man in America, at the time.

Vanderbilt was considered to be a man of just a few words, He rarely talked. He let others do the talking and preferred to listen and hear what the others had to say, but he never allowed the criticism of others to affect him or affect his decisions. He was also considered a very good judge of character. He embraced individuals of high character and went to war with those who were dishonest or untrustworthy. Vanderbilt’s word was considered as good as gold. He never wanted to look back on his word. Everyone who did business with Vanderbilt found him to be a man of high integrity. Vanderbilt spent his lifetime building relationships with other success-minded individuals – individuals who would be able to open doors for him that were closed. He sought out Thomas Gibbons, a very wealthy, successful individual in the steamboat industry and spent the first decade of his life as Gibbons' employee. He learned everything about business from Gibbons, who mentored and molded him. Gibbons was the only employer he would ever have. Vanderbilt understood that in order to succeed, you must build a team of disciples who buy into your vision.

Vanderbilt embraced new technologies, such as the steamboat, and new forms of business, such as the corporation. He had invested all his profits in the steamboat, and leaned his money to other businessmen. He was not afraid to take calculated risks. Toward the end of his life, he even put his entire estate at risk in an effort to save one of his many investments: The Union Trust. Vanderbilt also loved to compete. He battled his rivals as if at war, slashing fares and doing what he could to drive them out of business. Vanderbilt never quit on his dreams. Several times, this would put him on the brink of personal bankruptcy. But he was persistent and unrelenting. In the late 1820s, he went into business on his own for the first time, building steamships and operating ferry lines around the New York region. Shrewd and aggressive, he became a dominant force in the industry by engaging in fierce fare wars with his rivals. In some cases, his competitors paid him a lot of money not to compete with him and his team.