1. Robber Barons

2. Cornelius Vanderbilt
A dominant force in industry by engaging in fierce wage wars with his competitors
Often, his competitors would pay him hefty sums to NOT compete with him.
Had numerous enemies
Did not own grand homes or give away much of his wealth to charitable causes.
Died with more than $100 million, which he left to his son.

3. John D. Rockefeller
Founder of the Standard Oil Company, became the world’s richest man.
net worth of $55 million.
The History of Standard Oil by Ida Tarbell
Gave away more than $530 million to various causes.
Creation of the University of Chicago
Rockefeller Institute for Medical Research

4. Andrew Carnegie Built the Steel Industry
Homestead Strike of 1892 – Workers Strike
By 1900 Carnegie Steel produced more of the metal than all of Great Britain
Battle with JP Morgan
Sold Carnegie steel to JP Morgan for $480 million
“Now the richest man in the world”
Established over 2,500 public libraries and supported higher learning institutions
Gave away $350 million

5. JP Morgan Not born into a poor family, like Carnegie
After the Civil War he began buying distressed businesses and railroads
West Shore, Pennsylvania, Reading, Erie, New England
“Morganization”
Worth $80 million at his death ($1.2 billion today)
“And to think he wasn’t even a rich man.” – John D. Rockefeller
Not in the amount he had but it was in the billions he controlled.

6. Henry Ford Two failed attempts to establish a company for automobiles
Finally in 1903 the Ford Motor Company was incorporated with Henry Ford as vice-president and chief engineer
His dream of producing an automobile that was reasonably priced, reliable, and efficient came about with the Model T in 1908.
Initiated a new era in transportation
By 1918, half of all cars in America were Model-T
Moving assembly line, significantly reduced time per vehicle and lowered costs