As the years past after the civil war between the Confederates and the Union, the United States prospered as new inventions would be created and help the states become more industrialized. But also it created some of the richest people that would later basically rule the United States with their capability of bribing/buying their representatives and being able to have more money than the government. These people who became the richest person during their own time period were Cornelius Vanderbilt, Andrew Carnegie, John D. Rockefeller, and JP Morgan. The inventors had a huge impact from changing the ways to how everyday life would be and how it would be done. The major components of the second industrial revolution that helped the economical…
• Name of Industrialist: Andrew Carnegie. • How did he acquire his wealth? - Andrew Carnegie was born into a family who believed in the importance of books and learning in Dunfermline, Scotland. After he immigrated to the United States in 1858, he started with his first job as a telegrapher and then invested in railroads. With constant efforts, he established the Carnegie Steel Company in 1889 that was the largest steel company in the world.…
He was a an oil tycoon who created his monopoly by taking control of all of his competition. Andrew Carnegie- He made his fortune by incorporating the Bessemer Steel Process into his steel manufacturing business. He donated a university, because he believed it would help the poor by having the rich succeed and would give the poor a place to experience fine arts, rather than food. President Grover Cleveland-…
They are the most influential and wealthy of all the men of their era, having all the qualities it took to rise in the world that they lived in. These men include Andrew Carnegie, John D. Rockefeller, Jason “Jay” Gould, John P. Morgan, Jay Cooke, and Collis P. Huntington. Andrew Carnegie, a Scotsman who came to Pittsburg, Pennsylvania with his family of weavers, is renowned for his steel business. However, he started his career in a basement, as a bobbin boy. Eventually he worked himself up to the point where he obtained a job as a telegraph clerk working for Thomas Scott, the superintendent of the Pennsylvania Railroad.…
During the late 19th century, the control of industrialists increased substantially. Robber Barons were known as businessmen who robbed people of their money. People such as Andrew Carnegie, who was very successful in the steel industry and John Rockefeller who came up with the Standard Oil Company are just a few examples. Andrew Carnegie wrote the “Gospel of Wealth” which justified the methods of their management. Although some of their methods were questionable, “Robber Baron” is not an appropriate label for the industrialists who dominated American industrial development from 1877 to 1900.…
Rockefeller once wrote a letter to a partner stating, "we must remember we are refining oil for the poor man and he must have it cheap and good" (pg. 83). The stories which were told by Folsom about Rockefeller, had readers believing that he was a great person. Whereas, in many other textbooks Rockefeller is viewed very differently. Folsom looks at Robber Barons as a myth because he believes these particular entrepreneurs discussed, helped America to grow and become the world's superpower which it has become today. Folsom mentions that, "studying the rise of big business is important because it is the story of how the United States prospered and became a world superpower" (pg. 121).…
As the new century dawned, Rockefeller's investments mushroomed. With the advent of the automobile, gasoline replaced kerosene as the number one petroleum product. Rockefeller was a bona fide billionaire. Critics charged that his labor practices were unfair. Employees pointed out that he could have paid his workers a fairer wage and settled for being a half-billionaire.…
Andrew Carnegie, a philanthropist, was the second individual on the path to bigness in the late nineteenth century with his company, Carnegie Steel Co. Andrew Carnegie was one of the many steel company men before the 1873 depression but he had a genius for hard times and with every depression his organization gained strength . Carnegie affiliated himself with the Kloman brothers and their company, Kloman axle Company and set his connection to the iron and steel business. His control over steel companies increased as he gathered literary men, philosophers, English royalty, and U.S Senators who had positions to grant him a high steel tariff.…
Ulysses S. Grant: “The Greatest General of His Time” There are many different areas of a person’s life which allow them to be viewed as a success. A billionaire is considered a great success in the business world because of his financial acumen, while medals won in the Olympics reflect an athlete’s prowess and success. The ability to train, motivate, lead and unify an unskilled, untrained group of men to fight successfully for one cause, has been a highly regarded accomplishment for centuries. People who possess these gifts and character traits have sealed their legacies in the pages of history books as the financiers, political leaders, athletes and military leaders that forge the progress of a nation.…
George Washington, our first president, had much to do in order to make the United States a successful nation. Before he became president, he was a surveyor in his late teen years. Not long after, he joined the military service. As a soldier during the French and Indian War, he served as a commander to the Virginia Troops. He also claimed himself to be a successful tobacco planter in his home land.…
Rockefeller created a monopoly, making him a robber baron. Rockefeller was a robber baron, but he was also a captain of industry. He treated…
After the fall of acre Saladin had backed off and became defensive while the soldiers were rewarded for their bravery. After the celebrated the christen soldiers started the march to Jerusalem to reclaim the holy land. They did not advance very quickly because they were trying to reopen negotiations with Saladin which was very unsuccessful, they waited in their newly claimed city, Acre, for reinforcements. Richard had only a handful of options one of which was very risky, he could;…
Although it is argumentative that some entrepreneurs of the mid-nineteenth century deserved to be crown Captains of Industry or labeled as Robber Barons, John D. Rockefeller should have been honorably regarded as a Captain of Industry due to his account on strengthening the U.S’s economy by investing in blooming American industry and becoming one of the most respected philanthropist. At the same time, his fellow businessman, Cornelius Vanderbilt was suitable of the title Robber Barons for his hated reputation and lack of charitable efforts. Post-Civil War, the United States experienced with economic boom in which business leaders dedicated themselves in ensuring the government to be kept out of their businesses. In fact, the United States’…
His philosophy for a successful business in the oil industry was to cut waste and produce the best product at the lowest price. His competition was extremely wasteful- they’d pollute the city and surrounding rivers by dumping and spilling oil, gasoline, and other by-products. Rockefeller eventually made his way to be the largest oil refiner in America. He drove competition out and naturally, his competitors were unhappy and publicly condemned his name.…
The most successful family owned company in the United States, Wal-Mart, held by the Walton family. Founded by Sam Walton, who died in 1992, later inherited by his son Rob. Being the chairman of the Board of Directors is not an effortless task, despite the difficulty Rob has successfully sustained the company above water. Although there are non-family members on the board, the chairman is still a Walton. Another example of a successful American family owned business is, the Ford Motor company, this company has three family members on the Board of Directors, one of which is the Executive Chairman,…