TYCOONS IN THE EARLY 1900S IN THE UNITED STATESBy T. Harris

© 2014

SIOP OBJECTIVES: 04/04/2014

Today, I will learn how tycoons shaped the business world in the United States.

My job is to identify these tycoons and their contributions that helped to shape the United States.

CURRENT EVENTS

Relay for Life at South Central High School tonight and Saturday until noon.

Saturday, April 5th Pancake Breakfast at Applebee’s for J. H. Rose Chorus 8-10 am.

TYCOON

A very wealthy person.

TOP 15 TYCOONS NameScoreBooksTV/Radio MentionsPress

ClipsWeb HitsNet Worth (in $mil)400 RankBill Gates86221154,0001O. Winfrey7211056900280S. Spielberg7047252,10090Jack Welch62331012680376Ross Perot5856893,90047M. Stewart569832650381W. Buffett516491433,2002Steve Jobs447121541,400158R. Murdoch43125487,50021George Lucas418151333,00060Ted Turner381111776,20025V. McMahon3110141110700364Marc Rich291516151,200189Larry Ellison20149141121,9004D. Trump19131312131,800110

PRESENT-DAY TYCOONS:

DONALD TRUMP JAY Z

JAY Z AS A TYCOON

Jay-Z is a rapper, songwriter and businessman who has a net worth of $550 million. Jay-Z has earned his net worth through his career in the music industry, beginning as co-founder of Roc-A-Fella records, where he began his recording career. 

In 2008, Beyonce and Jay-Z were married, and have been named the top earning couple in the music industry.

http://www.celebritynetworth.com/richest-celebrities/richest-rappers/jay-z-net-worth/ 

DONALD TRUMP NET WORTH:

Donald Trump is an American real-estate developer, author and television personality who has a net worth of $2.9 billion and an annual salary of $60 million.

He says. “He is worth $10 billion!”

SECRET TO MY SUCCESS!

His first major success was transforming the bankrupt Commodore Hotel into the Grand Hyatt.

CORNELIUS-VANDERBILT

Vanderbilt had amassed the largest fortune accumulated in the U.S. at that time. Vanderbilt is deemed one of America's leading businessmen, and is credited for helping to shape the present-day United States.

ROAD TO SUCCESS

During the War of 1812, he was awarded a military contract to provide supplies to forts along the Hudson River.

1840S

Vanderbilt was operating a fleet of more than 100 steamboats.

He parlayed his success into ventures in Central America and, in 1855, began overseeing a transatlantic steamship business.

After only five years in the railroad business, Vanderbilt reportedly made $25 million.

1868

His wife dies & he marries a distant cousin (she was 34 years younger).

After his death, he left his legacy to his son William Henry & his other nine children.

Special Note: He was one of 13 children and the oldest son born to Sophia Johnson and Cornelius Vanderbilt—arguably the nation’s most imposing industrialist.

GLORIA VANDERBILT (HIS GREAT-GREAT GRANDDAUGHTER)

Known for her fashion design and tumultuous personal life, actress, writer and artist Gloria Vanderbilt became an iconic figure in American popular culture during the 20th century.

LEGACY CONTINUES

Anderson Cooper Talk Show Host, News Anchor / 1967 - Anderson Cooper was a news correspondent

on ABC and CNN before hosting his own show

ANDREW CARNEGIE

CARNEGIE

Andrew Carnegie was a Scottish-American industrialist who led the enormous expansion of the American steel industry in the late 19th century.

At the age of 13, in 1848, Carnegie came to the United States with his family. They settled in Allegheny, Pennsylvania, and Carnegie went to work in a factory, earning $1.20 a week. 

BACKGROUND ON CARNEGIE

After moving to the United States, he worked a series of railroad jobs.

By 1889 he owned Carnegie Steel Corporation, the largest of its kind in the world.

In 1901 he sold his business and dedicated his time to expanding his philanthropic work, including the establishment of Carnegie-Mellon University in 1904.

FAMOUS QUOTE

"People who are unable to motivate themselves must be content with mediocrity, no matter how impressive their other talents."

– Andrew Carnegie

J. P. MORGAN

At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and were accused by critics of controlling the nation's high finance.

1907

Major New York banks were on the verge of bankruptcy and there was no mechanism to rescue them until Morgan stepped in personally and took charge, resolving the crisis.

Morgan organized a team of bank and trust executives which redirected money between banks, secured further international lines of credit, and bought plummeting stocks of healthy corporations.

1901

He sold his business to the United States Steel Corporation, started by legendary financier J.P. Morgan.

The sale earned him more than $200 million.

POLITICAL CARTOON

ANSWER:

A political cartoon from Puck Magazine titled "The Helping Hand" that parodies Emile Renouf's 1881 painting of the same name (seeFile:RenoufHelpingHand.jpeg).

Cartoon shows Uncle Sam and J.P. Morgan rowing a boat. Morgan's enormous size reflects his stature and the importance of his banking operations to the country.

POWER

In 1890–1913, 42 major corporations were organized or their securities were underwritten, in whole or part, by J.P. Morgan and Company

LEGACY

Morgan died while traveling abroad on March 31, 1913, just shy of his 76th birthday. He died in his sleep at the Grand Hotel in Rome, Italy.

Flags on Wall Street flew at half-staff; the stock market closed for two hours when his body passed through.

J.D. ROCKEFELLER (1839-1937)

In 1855, a devout young Cleveland Baptist took a bookkeeping job with a local merchant and found it so fulfilling to pore over the minutiae of accounts that he thereafter celebrated the anniversary of his first payday as joyfully as his own birthday.

BUSINESS/ECONOMY

Rockefeller and his partners built a business refining crude into kerosene.

FAMOUS QUOTE

“Good leadership consists of showing average people how to do the work of superior people.”

SECRET TO MY SUCCESS: TRUST IN GOD

John D. Rockefeller was so convinced that it was his providence to become rich through figures that he would later say, "God gave me my money."

“If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.”Read more at http://www.brainyquote.com/quotes/authors/j/john_d_rockefeller.html#GWQAEsXSRLy1Gsie.99

JAMES B. DUKE (1856-1925) 

When Washington Duke returned from the Civil War to his farm near Durham, North Carolina, he had 50 cents, two blind mules and some cured tobacco. Seeing the success of the Bull Durham brand of chewing tobacco, Duke determined that selling rather than growing tobacco held a better future.

DUKE UNIVERSITY

His daughter Doris becomes the wealthiest woman in the US & founds the university.

IMPACT ON THE NATION

Now, write a brief paragraph about how the first tycoons impacted the rebuilding of the nation after the Civil War.

REFERENCES

http://en.wikipedia.org/wiki/J._P._Morgan#Treasury_gold

"Cornelius Vanderbilt." 2014. The Biography Channel website. Apr 03 2014, 11:12 http://www.biography.com/people/cornelius-vanderbilt-9515195.