How he acquired his wealth Through shrewd competition in the shipping industry when he owned several steamship lines Owned many powerful railroads that helped make crosscurrent transportation n cheaper and more efficient ; First investment was a loan of $100 from his parents when he was 16, so he could buy a boat to transport people from Staten Island to Manhattan; repaid the loan and shared $1 ,OHO of the profit with his parents within a year ;
When the War of 1 812 broke out, Vanderbilt won a government contract to transport people and supplies between forts along the coast ; In the 1 adds, Vanderbilt bought railroads that already existed and merged the m into one company under the name of New York Central Railroad ; Political and Economical competition caused him to cut off lines and affect people in affected areas negatively. How he treated his workers Treated his workers badly offering them very low wages but with long working g hours
Perceived by his contemporaries as a ruthless character who spent too little it me worrying about people’s perception of him ; Known for his harsh character How he spent his money ; Spent most of his money on himself and his family ; Invested in buying railroads and steamboats ; Donated ; Lived a modest life despite his wealth How he donated his money ; Donated $50,000 to the Church of Strangers ; Donated $1 million to Vanderbilt university ; Left most of his fortune to his son William and the rest of his children
How would he respond to requests from labor unions? We think he would say no because he treated his workers horribly and was an own for his harsh personality. He gave his workers low wages and long hours and this probably will not change just if a labor union asks for a request. Conclusion: Captain of Industry Although he has done some things to benefit his own wealth, he did a lot to benefit society as well which a robber baron would not do. He donated lots Of money to Other places and also used his wealth to help his owe n family and other people, not just himself.