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Presentation transcript:

Share our Annotated Bibliography” Collect the Annotated Bibliography Start “Turn of the Century” Movie

PROJECT SHARE: 3 Important Facts about your TOPIC. Why is your TOPIC important to Reconstruction?

Corporation- a business owned by many investors. Monopoly- company that controls all or nearly all business in a particular industry. Trust (Corporate)- a group of corporations run by a single board of directors.

Set up a new page of Cornell Notes We will look at 3 aspects of each man: 1. Their wealth 2. How they got there 3. Their legacy

What kinds of jobs do the richest, most famous people that you know of have?

Musicians?

What kinds of jobs do the richest, most famous people that you know of have? Musicians? Athletes?

What kinds of jobs do the richest, most famous people that you know of have? Musicians? Athletes? T.V.?

John D. Rockefeller (1) Andrew Carnegie (2) Cornelius Vanderbilt (4) Source: Business Insider 1 2 4

John D. Rockefeller (1) Andrew Carnegie (2) Cornelius Vanderbilt (4) Source: Business Insider 1 2 4

Carnegie sold U.S. Steel for $495 million in Worth anywhere from $75 billion to $298 billion in today's terms

Carnegie sold U.S. Steel for $495 million in Worth anywhere from $75 billion to $298 billion in today's terms

Carnegie sold U.S. Steel for $495 million in Worth anywhere from $75 billion to $298 billion in today's terms

NY Mansion Castle in Scotland

At the peak of his power, he owned almost half of the railroads in the eastern United States. wealth would be worth approximately $170 to $185 billion today.

At the peak of his power, he owned almost half of the railroads in the eastern United States. wealth would be worth approximately $170 to $185 billion today.

Built between 1889 and 1895 by his grandson

Built between 1889 and rooms with 35 bedrooms and 43 bathrooms

Built between 1889 and rooms with 35 bedrooms and 43 bathrooms …and a bowling alley

Built between 1889 and rooms with 35 bedrooms and 43 bathrooms …and a bowling alley

John D. Rockefeller The wealthiest American in history. His wealth today would be anywhere from $392 billion to $664 billion!

John D. Rockefeller The wealthiest American in history. His wealth today would be anywhere from $392 billion to $664 billion!

John D. Rockefeller The wealthiest American in history. His wealth today would be anywhere from $392 billion to $664 billion!

Born in Scotland to a poor weaver family. Moved to the U.S. in 1848 and started working at 13 years old Ran a telegraph company by the time he was 30.

Born in Scotland to a poor weaver family. Moved to the U.S. in 1848 and started working at 13 years old Ran a telegraph company by the time he was 30. Eventually created the largest steel business in the world.

Vertical Integration: 1 company owns every part of the process of making a product. Carnegie owned: Mines for coal, iron Steel mills Transport ships

Born on Staten Island, NY Began working on his father’s ferry at age 11 Owned his own ferry at age 16

Born on Staten Island, NY Began working on his father’s ferry at age 11 Owned his own ferry at age 16 Eventually bought steam ships then built the largest railroad business in America

Opened his own business at 19 years old. Known for ethics of hard work and “honesty” Developed crude oil business after Civil War

In 13 years, he took over 90% of the world’s oil industry. Bought out all competitors by “offering” to buy them or run them into the ground. Eventually, Standard Oil was the only company selling oil in the U.S.

Horizontal Integration: 1 company creates all of the product. This forces all consumers to buy from 1 company. Which vocab word sounds familiar to this?

Horizontal Integration: 1 company creates all of the product. This forces all consumers to buy from 1 company. Which vocab word sounds familiar to this?

The Supreme Court found Rockefeller guilty of having a monopoly in Forced Standard Oil to break up in 34 different oil companies. Some of which are still around today: ExxonMobil, Chevron, Amoco, BP, Pennzoil

Along with competing for wealth and lavish lifestyles, the “Barons” also competed in charity. Many of the nation’s universities, foundations, and public buildings were contributed.

Gave about $460 million of his $490 million away. 1,000 libraries across the U.S. that were opened with money from Carnegie. Donated $10 million to a college in Pittsburgh (Renamed: Carnegie Mellon U.)

Carnegie died in 1919 and gave his remaining $30 million to charity, leaving basically nothing to his friends and family. Did he do the right thing with all of his money?

When Vanderbilt died, he divided up his wealth between his 8 kids. One of his grandkids, George Washington Vanderbilt II, built the Biltmore Estate.

Donated 10% of the money he earned to his Baptist church. Founded the University of Chicago and Rockefeller University with gifts of more than $80 million.

He donated millions to finding cures for diseases. Responsible for eradicating hookworm and yellow fever in the U.S. In total, he donated around $550 million.

These are 3 of the 4 richest men in history. They were each exceptional, but many say “the times make the man”. What about this time in U.S. history allowed or aided these men in building so much wealth and power?