In 1985 he was given the Eclipse Award for lifetime achievements in Thoroughbred horse racing. Later, he engineered the consolidation of the New York & Harlem and the Hudson Line. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. Cornelius Vanderbilt was born on May 27, 1794, on Staten Island, N.Y. His father, from a long line of Dutch farmers, was imaginative but unthrifty. 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Despite a few foibles here and there, Vanderbilt is largely remembered for his successes and for connecting and consolidating many of the country's eastern railway lines, making transportation by rail cheaper, quicker and more efficient. Cornelius Vanderbilt was born in Staten Island, New York on May 27, 1794 to Cornelius van Derbilt and Phebe Hand. Cornelius Vanderbilt Jr. was born on April 30, 1898 in New York City, New York, USA as Cornelius Vanderbilt IV. Sciences, Culinary Arts and Personal In 1937 Whitney established the oceanarium that became known as Marineland, near St. Augustine, Fla. With the purchase of his father’s horse farm and racing stable, he embarked on a lifelong involvement with horse racing. flashcard set{{course.flashcardSetCoun > 1 ? Vanderbilt first amassed a fortune operating steamships. Cornelius Vanderbilt Biography. In the 1820s, Vanderbilt started his own company, building steamships and operating ferry lines around the New York region. Cornelius Vanderbilt (born on May 27, 1794 in Staten Island, NY) was an important figure during the Industrial Revolution. He had many siblings but most of them died at a young age. credit-by-exam regardless of age or education level. Whitney began working in his father’s mine in Nevada in 1922. How about receiving a customized one? To unlock this lesson you must be a Study.com Member. After getting hold of the Long Island Railroad, he acquired a controlling interest in the Hudson River railway in 1864 and the following year, became its president. He is credited for helping shape present-day United States. When Vanderbilt died in 1877, he left nearly his entire fortune and control of most of his business empire to his son, William. He provided the first rail service between Chicago and New York. In 1870, Vanderbilt combined many of his railroads into one of the largest corporations of the 19th century, the New York Central ; Hudson River Railroad. He was interred in the family vault in the Moravian Cemetery at New Dorp on Staten Island. So successful was the New York Central ; Hudson River Railroad that during the financial panic of 1873, when over half the nation’s railroads went bankrupt, the company still issued regular dividends to its stockholders. In 1863 and 1864, Vanderbilt and his chief opponent in the Erie Railway Company, Jay Gould, bribed state officials in a public fight over control of the company. After marrying his first cousin, Sophia Johnson, in 1813, Vanderbilt began working as a steamship captain for Thomas Gibbons in 1817. Lines he bought included the Canada Southern, New York Central, and the Lakeshore ; Michigan Central. Try refreshing the page, or contact customer support. Create your account. Vanderbilt’s ambitions changed all that, and within less than a decade it was possible to travel from New York City to Chicago on a single line under a single company. Subsequently, he acquired numerous railroads, giving rise to the largest American railway transportation system of the time. Vanderbilt’s huge corporation transformed the railroad industry. Along with David O. Selznick, he produced such films as A Star Is Born (1937) and Gone with the Wind (1939). Cornelius Vanderbilt Whitney, (born Feb. 20, 1899, Roslyn, N.Y., U.S.—died Dec. 13, 1992, Saratoga Springs, N.Y.), American businessman who turned inherited wealth and a variety of interests into significant achievements in business and public service. Log in here for access. When Vanderbilt died in 1877, he left nearly his entire fortune and control of most of his business empire to his son, William. Cornelius Vanderbilt Whitney, American businessman who turned inherited wealth and a variety of interests into significant achievements in business and public service. | Born on Staten Island, New York in 1794, Vanderbilt worked on his father's ferry after dropping out of school at age 11. His mother was the sculptor Gertrude Vanderbilt Whitney, founder of the Whitney Museum of American Art and heiress to a railroad and steamship fortune, and his father was Henry Payne Whitney, heir to fortunes in oil and tobacco. Famous Role Models You Would Like To Meet, Celebrities Who Are Not In The Limelight Anymore. Other Works https://www.sunsigns.org/famousbirthdays/d/profile/cornelius-vanderbilt Though he had previously held other smaller lines, Vanderbilt acquired his first major railroad in 1863 when he bought the New York ; Harlem Railroad, which started in the heart of Manhattan. After already amassing a fortune as a steamship owner and operator, Vanderbilt realized in the 1850s and 1860s that the future of travel and freight transportation was in the railroad industry. As a keen businessman, Vanderbilt was highly successful owning transportation companies. What Is Service Intangibility in Marketing? He was a writer and cinematographer, known for Reno (1930), Crawford Mystery Theatre (1951) and Hitler's Reign of Terror (1934). As a member, you'll also get unlimited access to over 79,000 Vanderbilt began his transportation empire by operating a ferryboat between Staten Island and New York City. What triggers the sell off of rival rail roads. Other transactions involve services, such as travel services and…, Saratoga Springs, city, Saratoga county, east-central New York, U.S. Even while working for Gibbons, Vanderbilt continued to operate his own smaller steamship enterprises on the side, and in 1829, Vanderbilt stopped working for the Gibbons family to concentrate on his own businesses. what institution did Gertrude Whitney found? To learn more, visit our Earning Credit Page. Copyright 2018 - Book Store WordPress Theme. Plus, get practice tests, quizzes, and personalized coaching to help you In 1958, his fourth marriage, to actress Marylou Horsford, turned his interests to many philanthropies, especially in the arts. just create an account. In 1859, the New York Times coined the term ‘robber baron’ to describe Vanderbilt and his ruthless efficiency in acquiring competing companies. You can test out of the – Definition, Theorem & Formula, Alexander the Great and the Birth of Hellenism, Lucius Cornelius Sulla Felix: Accomplishments, Facts & Quotes, Bacterial Transformation: Definition, Process and Genetic Engineering of E. coli, Rational Function: Definition, Equation & Examples, How to Estimate with Decimals to Solve Math Problems, Editing for Content: Definition & Concept, Allosteric Regulation of Enzymes: Definition & Significance. https://www.thefamouspeople.com/profiles/cornelius-vanderbilt-6613.php. Cornelius Vanderbilt was the 19th century prototype of the self-made man. Born in 1794 on Staten Island, Cornelius Vanderbilt quit school at age 11 to work on a ferry. Vanderbilt is known for the New York Central Railroad System and the development of railroads. After working as a steamship captain, Vanderbilt went into business for himself in the late 1820s, and eventually became one of the coun… In 1870, he consolidated two of his key lines into the New York Central and Hudson River Railroad, one of the first giant corporations in the history of America. He also donated large sums of money to the churches. He served in President Harry S. Truman’s administration as the first assistant secretary of the newly independent U.S. Air Force (1947–49) and then as undersecretary of commerce (1949–50). After dropping out of school to begin work on a ferry at age 11, Vanderbilt became one of America’s most well-known industrialists and eventually created the country’s first railroad empire. New York, constituent state of the United States of America, one of the 13 original colonies and states. Let’s review some of the key facts of this lesson on Cornelius Vanderbilt and his railroad empire. Let's review some of the key facts of this lesson on Cornelius Vanderbilt and his railroad empire. At the age of 11, Vanderbilt left school and started working, as a boy, on his father's ferry in New York Harbor.
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