Cornelius Vanderbilt's Rise to Power in Transportation and Wealth

Cornelius Vanderbilt, known as the Commodore, started his business with a $100 investment from his mother, growing it into a profitable ferry service. Despite facing a monopoly, he offered a cheaper, faster service across the Hudson River, leading to significant profits. Vanderbilt expanded his ventures to transatlantic services and built a railroad empire reaching California. His wealth extended to his family, who built luxurious summer homes in Newport, Rhode Island.

How did Cornelius Vanderbilt initially fund his first business venture?

• He won a lottery.

• He inherited money from his father.

• He received a $100 investment from his mother.

• He took a loan from a bank.

What was the main challenge Vanderbilt faced when expanding his ferry business across the Hudson River?

• Lack of customers.

• High operational costs.

• Poor weather conditions.

• A government-sanctioned monopoly.

How did New Jersey respond to Vanderbilt's successful ferry service?

• They partnered with him.

• They taxed it.

• They ignored it.

• They shut it down.

What new service did Vanderbilt offer after his ferry business became profitable?

• A luxury cruise line.

• A transatlantic ferry service.

• A cargo shipping service.

• A fishing expedition.

What industry did Vanderbilt expand into after his success with ferry services?

• Automobile manufacturing.

• Railroad construction.

• Real estate.

• Telecommunications.

What was the extent of Vanderbilt's railroad empire?

• It stretched to California.

• It only covered the East Coast.

• It was international.

• It was limited to New York.

How did Vanderbilt's children benefit from his wealth?

• They became famous artists.

• They became some of the wealthiest people in the world.

• They started their own businesses.

• They donated all their wealth to charity.

Where did Vanderbilt's children build their luxurious summer homes?

• In Newport, Rhode Island.

• In Beverly Hills, California.

• In Miami, Florida.

• In the Hamptons, New York.

What materials were used to build the Vanderbilt family summer homes?

• Local wood and stone.

• Simple and inexpensive materials.

• The finest materials from around the world.

• Recycled materials.