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Cornelius Vanderbilt Research Paper

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Cornelius Vanderbilt was born on May 27, 1794 in the port Richmond area of Staten Island, New York. As a child Cornelius grew up poor, as he watched his illiterate father, Cornelius Vanderbilt Sr., exhaust himself working as a seaman. Vanderbilt attended school till the age of 11 when the tragic death of one of his eight brothers occurred. As a young boy Vanderbilt grew up working with his father in the ferry by the New York Harbor. In 1810 when he was sixteen years old he convinced his parents to lend him $100 so he could buy a sailboat to start his own ferry and freight business. One of his first boats was a periuager. At the beginning of his business it wasn’t extremely popular like others, however in 1812 Vanderbilt’s business flourished. The war of 1812 provided many opportunities for growing …show more content…
Once again he had competed based on the basis of price and quickly took out the competition. He then expanded his service to Albany, New York. He also opened another passenger and freight service to the Long Island Sound, Providence and Connecticut areas. By the 1840s Vanderbilt was the biggest employer in the US as he owned a fleet of 100 steamships. At that point in time he not only competed based off of price, comfort, size, speed, luxury and elegance in the steamship passenger transportation industry. In 1849 the California gold rush, Vanderbilt started a steamship service that went to San Francisco through Nicaragua. His competition used the Panama route which was longer. Vanderbilt was a very smart businessman and cut off 2 days of the trip which not only meant that his service would be faster but also higher in quality. This part of his transportation business brought him over one million dollars per year. As a result he became the main transportation service provider on the East Coast to San Francisco

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