Cornelius Vanderbilt
Cornelius Vanderbilt was born on May 27, 1794 in Port Richmond of Staten Island in New York to a modest family. His great-great-great grandfather, Jan Aertson, was a Dutch immigrant who came to New York City as an indentured servant in 1650.
By age eleven, Vanderbilt quit school and went to work with ferries in New York City. By the time he was 16, he operated his own business ferrying freight as well as passengers. On December 19, 1813, Vanderbilt married his cousin and neighbor, Sophia Johnson, who was the daughter of his mother's sister. Vanderbilt and his wife had 13 children in total, one of which died young.
Vanderbilt's business expanded greatly to the Hudson River, and he soon controlled most of the coastal trade along the coast of New England. Soon, however, a new industy was beginning to rise, and Vanderbilt saw its potential. It was the railroad industry, and in the early 1860's, Vanderbilt sold most of his ferries to invest in it. By 1867, he owned the New York Central and Harlem railroads, and by 1873, he connected Chicago and New York City.
After the death of his wife, Sophia, Vanderbilt went to Canada where he married a distant cousin from Mobile, Alabama. Her name was Frank Armstrong Crawford, and they became married on August 21, 1869.
Vanderbilt was always ruthless in his business practices. He made very few friends, but he always had a large amount of enemies. He was considered a "mean-spirited" individual who made life for those around him miserable, including his family. He disowned all of his sons except for William, who Cornelius considered ruthless enough to continue the family business.
By age eleven, Vanderbilt quit school and went to work with ferries in New York City. By the time he was 16, he operated his own business ferrying freight as well as passengers. On December 19, 1813, Vanderbilt married his cousin and neighbor, Sophia Johnson, who was the daughter of his mother's sister. Vanderbilt and his wife had 13 children in total, one of which died young.
Vanderbilt's business expanded greatly to the Hudson River, and he soon controlled most of the coastal trade along the coast of New England. Soon, however, a new industy was beginning to rise, and Vanderbilt saw its potential. It was the railroad industry, and in the early 1860's, Vanderbilt sold most of his ferries to invest in it. By 1867, he owned the New York Central and Harlem railroads, and by 1873, he connected Chicago and New York City.
After the death of his wife, Sophia, Vanderbilt went to Canada where he married a distant cousin from Mobile, Alabama. Her name was Frank Armstrong Crawford, and they became married on August 21, 1869.
Vanderbilt was always ruthless in his business practices. He made very few friends, but he always had a large amount of enemies. He was considered a "mean-spirited" individual who made life for those around him miserable, including his family. He disowned all of his sons except for William, who Cornelius considered ruthless enough to continue the family business.
In his Will
At the time of death, Vanderbilt's estimated net worth was approximately $100,000,000. He gave each of his daughters $500,00; his wife received $500,000 in cash, their modest estate in New York City, and 2,000 shares in common stock of the New York Central Railroad; and his son William received a grand total of $95 million to continue the family business. Cornelius gave very little of his fortunes to charity( $1 million to the Vanderbilt University and $50,000 to the Church of Strangers in New York City. )
When Cornelius Vanderbilt died on January 4, 1877, he was buried in the family vault in Moravian Cemetery at New Dorp located in Staten Island. He will always be remembered as one of the great, ruthless railroad tycoons.
When Cornelius Vanderbilt died on January 4, 1877, he was buried in the family vault in Moravian Cemetery at New Dorp located in Staten Island. He will always be remembered as one of the great, ruthless railroad tycoons.