Cornelius Vanderbilt

“When Cornelius Vanderbilt died, his net worth adjusted for inflation cause he died in the Was the equivalent of four hundred billion dollars. And in three generations, there was nothing left, which is an astounding thing to think about.”

“By his death, he reportedly held one ninth or one 20th, depending on how you count it, of all U.S. Currencies, sparking debate over his wealth, democracy, and the unsettling power of massive corporations.”

“One of the things that sets Vanderbilt and other outliers apart is their willingness to tolerate pain. Most people have no capacity to endure pain, financial or psychological, and if you can gain a real advantage.”

“Rockefeller, Carnegie, Mellon, Gould, Morgan, all were just beginning their careers when Vanderbilt stood at his zenith. They studied him, and they followed his example, though few would match his impact.”

“Armed with Vanderbilt's backing and 40,000 dollars, Spencer traveled to Costa Rica and convinced President Juan Rafael Mora to help sever Walker's supply lines. On December 23rd, 18 56, Spencer's troops silently overtook the filibuster garrison at Hips Point a…”

“Vanderbilt operated with very little leverage, so he could always take advantage of his rival's misfortunes.”

“Court records show she lent money at commercial rates of interest and once even foreclosed on a widow's mortgage. The widow being her own daughter.”

“Vanderbilt helped pioneer the concept of the giant corporation distinct from the individual ownership or management. By merging older railroad companies into a single entity focused on efficiency and profitability, he also shifted their original public service…”

“Identify lucrative routes, wage devastating fair wars, use anti-monopolistic rhetoric to rally public support and a bit of showmanship, and then demand large payoffs to end the competition.”

“Though his methods contradicted his anti-monopoly rhetoric, Vanderbilt democratized transportation, forever transforming the industry.”

“Only five cities held more than 10,000 residents at this time, and the percentage of the nation's four million citizens who lived in towns of at least 2500 people languished in the single digits and would linger there for decades to come.”

“Though initially dismissed, Vanderbilt quietly joined the Long Island Railroad Board, redirecting business away from the Stonington. Shareholders panicked at the high debt and reduced traffic. Its stock plummeted, allowing Vanderbilt and his allies, including …”

“When a better technology came along, Vanderbilt jumped on it. He went from ferries to steamships to railroads without trying to cling to the past. The guy did not think about sunk costs. He went all in”

“His estimated wealth of around eleven million likely made him America's richest private citizen.”

“The letter perfectly capturing Vanderbilt's fierce reputation, Bias toward action and blunt style is likely apocryphal. Historians point out it first appeared decades later in Vanderbilt's obituary without evidence and the language used doesn't match Vanderbil…”

“Vanderbilt didn't just experience that changing time period and watch as the American economy rose around him. He was possibly the largest force at the time responsible for the building of it. He was the trailblazer in the corporate world and reimagined what a…”