Question

Which is the BEST example of a "Robber baron" using his wealth in a "philanthropic" manner?

A) Jay Gould and his involvement with the "Tammany Hall" political ring
B) Cornelius Vanderbilt and the $1 million endowment he gave to Vanderbilt University
Eliminate
C) Alexander Graham Bell using his capital to purchase all of the stock of his competitors
D) The sale of Carnegie steel for $480 million to J.P. Morgan and the creation of U.S. Steel in 1901

Answer 1

The answer is going to be .) B

Answer 2

Answer: B) Cornelius Vanderbilt and the $1 million endowment he gave to Vanderbilt University.

"Robber barons" were powerful businessmen of the 19th-century United States who made their fortunes through dubious practices. Some of these morally questionable strategies are monopolies, the formation of trusts, exploitation of workers, etc. Cornelius Vanderbilt is an example of this type of industrialist. Moreover, a donation to Vanderbilt University is likely to be seen by most people as a "philanthropic" or charitable act.