Cornelius Vanderbilt Research Paper

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Cornelius “Commodore” Vanderbilt was an entrepreneur who acquired over one hundred million dollars through different industries and business ventures such as ferry boats, shipping, and railroads. He came from a humble background with little money or education, but using determination, he still managed to become a successful businessman.
Vanderbilt was born on May 27, 1794 in Staten Island, New York to Cornelius van Derbilt and Phebe Hand. His father was a poor farmer and boatman. Vanderbilt’s introduction to business began when he quit school at eleven years old to work with his father in the ferry boat business. Becoming interested in making money of his own, he borrowed money from his parents to buy his own boat. He only charged 25 cents roundtrip, …show more content…
On December 19, 1813, Vanderbilt married his cousin Sophia Johnson. Together, they had thirteen children. Vanderbilt supplied the forts surrounding New York City during the war of 1812. In 1818, he gave up ownership of his ferryboats and became a steamboat captain. He earned the nickname “Commodore”, because he was so competitive. He and his partner Thomas Gibbons created the most lucrative ferry service running from New York to Philadelphia. This was difficult at first, because Gibbons was violating a state monopoly. However, Gibbons took the matter to the Supreme Court in Gibbons v. Ogden. The decision was made in favor of Gibbons which left interstate commerce regulation up to the federal government. During the 1840s, Vanderbilt was the largest employer in the United States. This was a result of his ownership of passenger and freight services in New York and Connecticut. He expanded his business yet again during the California Gold Rush when he opened a passenger service to San Francisco. He was always a smart business man and far ahead of the competition. His route to California was two days shorter than his competition’s. From this business alone, he earned one million dollars per year. He only left this

Cornelius Vanderbilt Research Paper

Cornelius Vanderbilt, also known as the Comodore, was born on May 27, 1794. He was one of nine children. Born and raised in New York, Vanderbilt started working with his father. They worked ferrying products and merchandise between Staten Island and Manhattan. Vanderbilt also attended school during this time when he wasn't needed by his father. At the age of 11, when the family faced hardship, Cornelius was forced to quit school to pursue a career in his father's business. Cornelius s family was…

Words 606 - Pages 3

Cornelius Vanderbilt Research Paper

Cornelius Vanderbilt Cornelius Vanderbilt was born in Staten Island, New York on May 27, 1794. Child of Phebe Hand and Cornelius van Derbilt. His mother was very hard working for success, and his father was focus on his craft. Even though Cornelius Vanderbilt was successful in life he didn’t finish his education. At age eleven he quit school to work with his father ferrying cargo. Vanderbilt once said, “If I had learned education I would not have had time to learn anything else. At age…

Words 759 - Pages 4

Cornelius Vanderbilt Research Paper

S History Cornelius Vanderbilt Cornelius Vanderbilt was born on May 27, 1794, on Staten Island, New York. His parents were poor farmers and, on the side, ran boats between Staten Island and Manhattan in his “two-masted sailing vessel” referred to as a “periauger”. Cornelius worked with his father on the boat while he went to high school. As a teenager he traded cargo in his own periauger. After that, they owned a fleet of boats and learned about design. During the Civil War, Cornelius gave away his…

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Cornelius Vanderbilt Research Papers

Dutch settlers who came to America in the mid-1600s, Cornelius Vanderbilt was born into humble circumstances on May 27, 1794, on Staten Island, New York. His parents were farmers and his father also made money by ferrying produce and merchandise between Staten Island and Manhattan in his two-masted sailing vessel, known as a periauger. As a boy, the younger Vanderbilt worked with his father on the water and attended school briefly. When Vanderbilt was a teen he transported cargo around the New York…

Words 526 - Pages 3

Cornelius Vanderbilt Research Paper

Cornelius Vanderbilt began life as a poor boy. He borrowed money from his mother to buy a ferry boat to carry people across the Hudson and from that built a large ocean shipping empire. During the Civil War he got out the the shipping business. He was then the wealthiest man in the country. He then as a hobby brought the New York and Harlem Railroad. The road had begun as a horse car line and added steam cars to carry people on a meandering route up into the suburbs east of the Hudson River. In Manhattan…

Words 607 - Pages 3

Cornelius Vanderbilt Research Paper

Cornelius Vanderbilt was born on May 27, 1794, in Staten Island, New York. He began a passenger ferry business in New York harbor with one boat, then started his own steamship company, eventually controlling Hudson River traffic.Than over a period of time, he had a fleet of ships that carried goods and and people. Over the next 40 years he controls shipping. He decide to start up a railroad business. Vanderbilt invested everything he had into railroads. By the end of the civil war investing his money…

Words 225 - Pages 1