USA HISTORY

Detailed explanation-1: -Cornelius Vanderbilt and his son William were perhaps the most famous railroad tycoons. During the era, they bought out and consolidated many of the rail companies in the East, enabling them to cut operations costs.

Detailed explanation-2: -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-3: -Shrewd and aggressive, he became a dominant force in the industry by engaging in fierce fare wars with his rivals. In some cases, his competitors paid him hefty sums not to compete with them. (Throughout his life, Vanderbilt’s ruthless approach to business would earn him numerous enemies.)

Detailed explanation-4: -Cornelius Vanderbilt (1794-1877), also known as “the Commordore” made his wealth in the railroads and shipping industries. He found his start in the ferry industry as a young boy with almost immediate success and a place as one of America’s great industrialists.