Cornelius Vanderbilt
Born May 27, 1794 (Port Richmond, New York)
Died January 4, 1877 (New York, New York)
Shipping executive
Railroad executive
Financier
When Cornelius Vanderbilt died in 1877, he left an estate valued at $100 million. Vanderbilt's astonishing fortune ranked him as the richest American in his lifetime, and his wealth had seemed to grow right along with the rapidly expanding new nation. Known as the "Commodore," he made his first fortune in shipping and went on to own a large section of the railroad tracks that connected the East Coast to Chicago, Illinois. Vanderbilt had a skill for recognizing coming changes and trends, and his talent for investment opportunities made him one of the American Industrial Revolution's leading figures. His estate also created one of the country's great family fortunes.
An Early Start in the Shipping Business
Born in May 1794 on Staten Island, New York, Vanderbilt came from a Dutch farming family who lived in Port Richmond, on the north shore of the island. His great-great-great-grand-father, Jan Aertson, came to New York in 1650 as an indentured servant, a common form of contract labor in the era and a way for poor men and women to try their luck in the New World.
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