Life and Legacy of Cornelius Vanderbilt

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 steamboats and then built the railroad, but was not a good man to work with.

Vanderbilt was known to be a very successful man, but he was a fraud too, he started his business by taking 100 dollars from his mother. He invested and saved his money and inherited this trait from his mother. In every dollar he spent he invested it and spent it wisely. Without debt he grew his empire, and he never borrowed money. Vanderbilt was never accepted in the higher class because he never flaunted his money or his wealth. Vanderbilt invested his money in steamboats and lent his money to different businesses. He bought and purchased stock in private corporations and real estate. He invested millions of money into a building called Grand Central Station, which is one of the largest train depots in the world. Vanderbilt did not come for money, but he was self-made. He practiced habits throughout his life, such as living below his means. When Vanderbilt died in 1877, there was an estate called The Vanderbilt’s estate and it was estimated to be $100,000,000. Today in money that would be $2.3 billion dollars, making him the richest man in the U.S.

Vanderbilt was seen as a man of few words, he rarely talked. He let others speak, and he preferred to listen to what others have to say, and he never let criticism get in the way of him or others. He was a very good judge of character. He went to war with the people who were dishonest and/or trustworthy and he embraced individuals of high character. Vandetbilt’s world was supposed to be seen as good as gold. He never wanted to look back on his words. Everyone who was in business with Vanderbilt discovered him to be a man of integrity. Vanderbilt spent his lifetime building relationships with other successful individuals who would be able to open doors for him. Vanderbilt spent the first year of his life with Thomas Gibbons’ as an employee, Thomas Gibbons’ was a very successful man in the steamboat industry. Everything Vanderbilt learned he learned from Gibbons, who mentored him. Vanderbilt was the only employee Gibbons ever had. Vanderbilt understood that into succeed, he must build a team of disciplines who buy into his decisions.

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. Harsh 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.

Overall this essay tells the late life of Cornelius Vanderbilt and what he did for a living. To this day, Vanderbilt has a college in Nashville, Tennessee called Vanderbilt University. The Vanderbilt University is offered in more than 40 countries and it is a private institution that was founded in 1873. There is also a mansion called the Biltmore House in Asheville, North Carolina, it is an 8000-acre property. You can also go there and do some fun stuff such as, go on hikes, and spend time with your family. The Biltmore estate is owned by the Biltmore Company also known as, William Amherst Vanderbilt Cecil. Although Vanderbilt died 100 years ago, his legacy still lives on to this day.