KIDS TRIVIA

Detailed explanation-1: -Cornelius Vanderbilt, byname Commodore Vanderbilt, (born May 27, 1794, Port Richmond, Staten Island, New York, U.S.-died January 4, 1877, New York, New York), American shipping and railroad magnate who acquired a personal fortune of more than $100 million.

Detailed explanation-2: -Cornelius Vanderbilt, 1794–1877 How he made his money: Shipping, then railroads. Vanderbilt began work as a ferryman in New York City harbour, soon working his way into a partnership with the operator of a state-of-the-art steamboat.

Detailed explanation-3: -“Vanderbilt sorely wanted the long-distance passengers and through freight that came from the West via the Central, no matter how little revenue he received. Unlike a steamboat and steamship line, a railroad suffered from high fixed costs. It was an immovable piece of infrastructure.

Detailed explanation-4: -Cornelius Vanderbilt Using the same tactics, he opened the fastest steamship route from New York to San Francisco during the Gold Rush, and then pivoted. He realized that trains were the next big thing in transportation, and sold his entire stake in the steamship industry, betting his fortune on railroads.