Cornelius Vanderbilt who was famously called as Commodore Vanderbilt and owns New York Central Railroad. He built his estate with projects of railroads and shipping. He was a well-known philanthropist and American business magnate. He was a person who born poor and became successful in his life. Here is a quick summary of net worth, career and earnings of Cornelius Vanderbilt.
Early Life & Biography:
Cornelius Vanderbilt was born on May 27th, 1794 at Staten Island, New York, the U.S. In the history of America he is one of the richest and wealthiest men. He was born to Cornelius van Derbilt who looks after ferry and Phebe Hand. At the age of 11, he stopped going to school and joined his father’s ferry. Vanderbilt decided to start his own ferry service at the age of 16. For that, he had borrowed $100 from his mother. This business had earned profits.
Vanderbilt married Sophia Johnson at the age of 19. Sophia Johnson was his cousin, and their parents are Nathaniel Johnson and Elizabeth Hand. After the marriage, they shifted to boarding house which is located in Manhattan. They had 13 children. Among them, Cornelius Vanderbilt believed that Willam was the only son who is capable of holding the huge wealth and has the knowledge to maintain the business. His made his elder son Billy as vice president of Harlem. He proved himself and later became captain of Staten island railway.
Career, Awards & Nominations:
In 1817 Vanderbilt was asked to be captain of Steamboat by Thomas Gibbons. Later he became business manager for the same. Later gibbons have faced with many problems like monopoly and heavy restrictions, but Vanderbilt had stood up for gibbons. Vanderbilt worked with the son of Thomas Gibbons after the death of Thomas Gibbons. At the same time, Vanderbilt worked on his own businesses.
Later in 1849, Vanderbilt shifted to ocean-going steamships from regional steamboat lines. Here he did not get the desired profit but founded the Accessory Transit Company in order to transport passengers through Nicaragua by steamboat on the river, which acts as a carriage road between the Pacific port and Virgin Bay. In 1861 Civil war Vanderbilt had donated his steamboat to Union navy which was equipped with handpicked staff and technicians. At first Union, navy has declined, but later it has accepted.
Net Worth & Earnings:
The estimated net worth of Cornelius Vanderbilt is more than $100 million. Cornelius Vanderbilt had made this fortune by his hard work and continuous learning. He had shown the new theme to steamboat and connecting numerous railroads. His contributions to railroads were inspiring. He made huge wealth by growing in his career step by step.
Cornelius Vanderbilt who was irreplaceable had contributed many services to the people. At last, he died at his home on January 4th, 1877 after suffering from chronic disorders for several months. Vanderbilt had given most of his wealth to son William as Vanderbilt believed that he is capable of maintaining it.