Cornelius Vanderbiltindustrialist, financier Birthplace: Port
Richmond, N.Y. Having gotten his feet wet operating the Staten
Island ferry in 1810, Vanderbilt then worked for Thomas Gibbons
before forming his own very successful and lucrative steamboat
business. When the California gold rush increased demand for
transportation, he devised a steamship route in 1849, including
an overland passage through Nicaragua. By 1862 his interest had
shifted to railroads. He acquired stock in the New York &
Harlem, then bought the Hudson River Railroad and the New York
Central. He continued expanding his holdings to include lines in
Michigan and Canada, but he failed to buy the Erie Railroad in
1868 when Daniel Drew, Jay Gould, and James Fisk declared the
“Erie Wars,” in which the three managed to manipulate stock to
prevent Vanderbilt from buying Erie. Vanderbilt was responsible
for the $1 million donation that was used to found Vanderbilt
University.Died: 1/4/1877 Fact Monster/Information Please®
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