Robber Barons
ROBBER BARONS IN THE U. S.
John Pierpont Morgan Was a Banker John Pierpont Morgan was a banker who financed railroads, contributed to the organization of U.S. steel, General Electric, and many other large businesses. Was one of the biggest bankers of his era, and started banking in the late 1850’s. In 1871, he formed a partnership with Anthony Drexel, a banker from Philadelphia, Once he had 16% of all railroad stock. Lead Wall street from the 1907 money collapse. John D. Rockefeller John D. Rockefeller made his fortune on Oil and was the richest man to ever walk the earth. He created the standard oil company and created a monopoly on oil. The government was forced to break this up because it was bad for the economy He was born in 1839 and died in 1937. Andrew Carnegie Andrew Carnegie invented the ability to mass produce steel. He was the second wealthiest man on earth ever. He allowed the creation of skyscrapers to be built. He used unscrupulous business activities to make lesser companies be forced to go bankrupt. |
ROBBER BARONS IN GERMANY
Fritz Thyssen Fritz Thyssen was a robber baron of the mining and steelmaking industries. Supported the Nazis and then backed out after he realized how terrible he was. Fled to Switzerland, and the France. He intended to go to Argentina, but was caught when Germany invaded France. He was sent to Dachau concentration camp, but given good treatment and moved to Tyrol. He was liberated by the Americans in 1945. Oskar Schindler Oskar Schindler happened to be an entrepreneur who was credited with the saving of the lives of 1,200 Jewish people by employing them in enamelware and ammunitions (which were faulty, so that they could not be used in the war). What makes him a robber baron was that he cheated people out their money by making fake ammunition and paying people off with bribes. The Krupp Family The Krupp familybecame rich by making the largest munitions factory. This supplied 46 countries. They made guns for German Artillery in WWI. What made them a robber baron was the fact that they seized land to make more factories. |
SUMMARY
Definition:
A capitalist who acquired a fortune during the Industrial Revolution by ruthless/unscrupulous means
The phrase ‘Robber Baron’ was derived from the German word ‘raubritter.’
Definition:
A capitalist who acquired a fortune during the Industrial Revolution by ruthless/unscrupulous means
The phrase ‘Robber Baron’ was derived from the German word ‘raubritter.’