USA HISTORY

Detailed explanation-1: -By the 1850s he had turned his attention to railroads, buying up so much stock in the New York and Harlem Railroad that by 1863 he owned the line. He later acquired the Hudson River Railroad and the New York Central Railroad and consolidated them in 1869.

Detailed explanation-2: -Vanderbilt made his millions by controlling two burgeoning industries: the steamboat industry and the railroad industry. When he died, Vanderbilt’s estate was estimated to be worth $100, 000, 000. That was back in 1877.

Detailed explanation-3: -William Henry Vanderbilt, (born May 8, 1821, New Brunswick, N.J., U.S.-died Dec. 8, 1885, New York, N.Y.), American railroad magnate and philanthropist who nearly doubled the Vanderbilt family fortune established and in large part bequeathed to him by his father, Cornelius.

Detailed explanation-4: -Vanderbilt recognized its value in transporting goods in and out of the city, and it was soon a very profitable line. Vanderbilt took control of the Hudson River Railroad in 1864, the New York Central Railroad in 1867, and the Lake Shore and Michigan Southern Railway in 1869 after his success with the Harlem.