Vanderbilt Intentionally Crashed a Railroad's Stock to Secretly Acquire Controlling Interest
Shane Parrish · Cornelius Vanderbilt: The First Tycoon [Outliers] · Apr 8, 2025 · at 37:41
Shane Parrish describes how Cornelius Vanderbilt executed a hostile takeover of the Stonington Railroad in the 1840s to secure his first major foothold in the rail sector.
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“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 Drew, to secretly acquire a controlling share.”
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