Essay Robber Barons in America

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Robber Barons in America What is a robber baron? Webster’s New Dictionary defines it as an American capitalist of the late 19th century who became wealthy through exploitation (As of natural resources, governmental influence, or low wage scales) or a person who satisfies himself by depriving another. In America we had a lot of these kind of people. For this report I am going to tell you about the ones that I found most interesting to me. I would first like to tell you about Cornelius Vanderbilt.

Cornelius Vanderbilt was born in Port Richmond on Staten Island, N. Y. in 1794. Cornelius at the age of 16 had already stepped into the busniess world and he didn’t even know it. At 16 he entered into the steamboat business when he …show more content…

At the mere age of 16 he went to work for a firm of farm-produce shippers. A couple of years later, he went into that business for himself. In 1862, he went into business with Samuel Andrews, the inventor of an inexpensive process for the refinement of crude petroleum. By 1870 the company had been superseded then in 1870 Rockefeller and his brother William and several associates took over the business. By the 1880’s the company was one of the largest and richest manufacturing concerns in the world. Rockefeller main concern wasn’t always business he married Laura Celestia Spelman in 1864. They had three daughters Bessie, Edith, and Alta and one son John D. Rockefeller, Jr. In 1862 Rockefeller formed the Standard Oil Trust. This, the first corporate trust, was declared an illegal monopoly and ordered dissolved by the Ohio Supreme Court in 1892. Rockefeller retired as president in 1911. Also in 1911 the company was broken into separate corporations by an antitrust decision of the U.S. Supreme Court. At the peak of Rockefeller’s personal fortune was estimated at almost 1 billion dollars. Rockefeller founded the University of Chicago in 1892. Rockefeller died at the age of 97 on May 23, 1937, in Ormond, Florida. He was buried in Lake View Cemetery, Cleveland, Ohio.

When you hear the word “Ford” more often then not people are going to think of automobiles. This is not surprising because a man gave

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