He Inherited A Fortune—Then Doubled It
William Henry Vanderbilt was the unassuming scion of his robber-baron father, Cornelius “Commodore” Vanderbilt. While he could have coasted through life on his father’s fortune, he decided that wasn't good enough. Instead, he figured out how to double his fortune—the public be damned!
1. He Came From Powerful Stock
William Henry Vanderbilt—or just “Billy” to his family—was born in New Brunswick, New Jersey, in May of 1821. As the eldest son of the terrifying and terrible tycoon Cornelius “Commodore” Vanderbilt, expectations ran high. Too high.
Jared Bradley Flagg, Wikimedia Commons
2. He Wasn’t Built For Greatness—Yet
As a boy, even as the eldest son, the younger Vanderbilt seemed like the least likely to follow in his father’s large footsteps. His contemporaries observed that he was “frail” and didn’t show much ambition at all. His quiet demeanor made him look more like a bookkeeper than a baron. And his father noticed.
Edward Bierstadt (credit reads
3. His Father Was Mean
Cornelius Vanderbilt didn’t bother hiding his utter disappointment in his little “Billy”. He called his eldest son a “blockhead” and a “blatherskite”—an old-timey insult that still hit like an emotional bag of bricks. To the “Commodore”, his son was a disgrace in waiting.
Produced by Mathew Brady's studio, restored by Michel Vuijlsteke, Wikimedia Commons
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
4. He Took It—All Of It
Perhaps contributing to his father’s low opinion of him, the younger Vanderbilt never fought back. He swallowed the shame, bottled the insults, and carried on. But he was determined to prove his father wrong. Quietly. Strategically. The revenge of a lifetime was already brewing.
Eastman Johnson, Wikimedia Commons
5. He Made A Bold Move
In 1841, at the age of 19, Vanderbilt made a decision that just about sealed his father’s low opinion of him into law. Against his father’s wishes, he went out and got married. And while we might imagine his youth as his father's reason for fury, something else likely put him over the edge.
Unknown authorUnknown author, Wikimedia Commons
6. She Wasn't Good Enough
It seems Vanderbilt married not for power or position, but for love. He tied the knot to Maria Louisa Kissam, the humble daughter of a Presbyterian minister. It wasn’t a power match by any estimation, but Billy didn’t care.
For once, he made a choice on his own. His next choice though? Not quite as noble.
John Singer Sargent, Wikimedia Commons
7. He Was A Columbia College Dropout
Vanderbilt’s next move only added fuel to the fire of his hatred for him. He had enrolled at Columbia with the class of 1841—but never graduated. The reasons for his academic floundering aren’t clear, but his college dreams were short-lived. He would have to learn on the job.
Alexander Jackson Davis, artistVistus Balch, engraver, Wikimedia Commons
8. His Father Shuffled Him Into A Desk Job
It’s not entirely clear what happened next to Vanderbilt. By some accounts, shortly after his marriage, Vanderbilt’s father shuffled him into a New York banking house, hoping his son would prove effective at pushing papers. Other accounts tell of a different path entirely for Vanderbilt.
Eastman Johnson, Wikimedia Commons
9. He Was Just A Simple Farmer
An equally likely tale cast Vanderbilt in a more industrious light. Following his marriage to Maria and brief college career, his father retaliated by getting rid of him. He allegedly sent him to Staten Island. Not to relax—but to run a farm. However, Vanderbilt turned his father’s punishment into opportunity.
Jasper Francis Cropsey, Wikimedia Commons
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
10. He Turned The Tables
The Staten Island farm was supposed to humble Vanderbilt and make him come to his senses—or so his father thought. Instead, Vanderbilt shocked his old man when he turned the rocky patch of dirt into a cash cow (pun intended). The move proved that he wasn’t a “blockhead”. In fact, he was smarter than his dad.
11. He Saw The Future In Rail
Vanderbilt’s father had built his fortune primarily on steamships—but he could see an even more profitable future. Fresh off the success of his farmer venture, Vanderbilt set his sights on a new business: railroads. He wasn’t just going to inherit his father’s empire—he was going to build a bigger one.
Charles Roscoe Savage, Wikimedia Commons
12. He Took On A Doomed Business
By 1857, Vanderbilt had proven to his father that he wasn’t a “blockhead”. But he hadn’t proven that he was worthy of the Vanderbilt name. So, he convinced his disapproving father to appoint him receiver of the Staten Island Railroad—at that time, a total financial failure.
What ensued is one of the great stories of American business.
SMU Central University Libraries, Wikimedia Commons
13. He Re-Railed The Railroad
Saddled with a derailed railroad, Vanderbilt’s entire reputation rested on whether he could do the impossible. And, to everyone’s amazement, he did. With sheer managerial genius, he revived the legendary railroad. In doing so, he left his father utterly mystified. Finally, it was time for a reconciliation.
Nantucket Historical Association, Wikimedia Commons
14. He Finally Impressed The Old Man
While aboard the Vanderbilt steamship to Europe, father and son had a life-changing exchange. Somewhere between New York and Naples, the two men had a tete-a-tete. While the words they shared remain a secret between them, when they returned, the Commodore expressed his full confidence in his “blockhead” son.
From then on, Vanderbilt was unstoppable.
Unknown authorUnknown author, Wikimedia Commons
15. He Climbed Fast
Vanderbilt's railroad career took off like a runaway train. First, he became president of the Staten Island Railway in 1862. Just three years later, he climbed to vice-president of the Hudson River line. He wasn’t coasting—he was conquering.
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
16. He Claimed His Father’s Empire—Piece By Piece
By 1864, Vanderbilt had snagged the vice-presidency of the New York and Harlem Railroad, and in 1865, the Hudson River line followed. While all of it belonged to dear old dad, there was no question who was running the family business. He just needed the crown.
Unknown authorUnknown author, Wikimedia Commons
17. He Waited For His Moment
Despite his successes, Vanderbilt stayed in his father’s shadow until 1877. But, when the Commodore finally relinquished his iron grip on the empire (and his life), Vanderbilt was ready. And once he officially took the reins, he rode his iron horse faster than anyone thought possible.
But a potentially career-ending scandal was waiting at the next signal change.
Currier & Ives., Wikimedia Commons
18. He Gave A Memorable Interview
In 1883, Vanderbilt gave an interview that would define an era of American business. A reporter grilled Vanderbilt about his express trains. “Do your limited express trains pay,” John Dickinson Sherman asked, “or do you run them for the accommodation of the public?”
Vanderbilt’s answer was…direct.
Ida Tarbell, Wikimedia Commons
19. He Delivered An Unforgettable Line
Vanderbilt, never one to mince his words, replied to Sherman with a line that would go down in history as one the most unforgettable—and damnable. In a huff, Vanderbilt fired back at Sherman’s questions, “Accommodation of the public? The public be damned!”
It didn’t get better from there.
Interim Archives, Getty Images
20. He Doubled Down
Just in case Sherman hadn’t clearly understood what Vanderbilt meant, he made sure to clarify his heated remarks. “We run them because we have to,” Vanderbilt scoffed. “They do not pay”. Translation? Business before benevolence—always. The controversy worsened from there.
Miscellaneous Items in High Demand, PPOC, Library of Congress, Wikimedia Commons
21. He Got Misquoted
When Vanderbilt’s crude statements appeared in Chicago Daily News the next day, the quote caused a firestorm. Newspaper after newspaper ran the quote, leaving readers incensed. There was just one problem. Vanderbilt might never actually have said, “The public be damned!” Or, at least, he might not have said it quite that way.
Chicago Daily Journal, Wikimedia Commons
22. His Quote Is Apocryphal
Soon after the newspapers hit the stands with Vanderbilt’s inflammatory statements, conflicting accounts of the interview emerged. All of a sudden, it was unclear who had conducted the original interview, under what circumstances, and what exactly Vanderbilt had said. Granted, none of the alternate versions made him come off any better.
Library of Congress, Getty Images
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
23. He Blurted It Out
In one telling of the infamous exchange, Vanderbilt comes across as even more aggressive. Allegedly, he had just left a meeting of railroad bigwigs when a nosy reporter intercepted him with, “The public wants to know—,” before Vanderbilt interrupted him. “The public be damned!” he exclaimed.
Other versions are even less flattering.
24. He Didn’t Like The Competition
Another version takes place at Chicago’s Grand Pacific Hotel. There, Vanderbilt had supposedly just heard about a flashy new train from a rival railroad. Seemingly, the new railroad threatened to eat into his business. When asked what he planned to do about it, he didn’t exactly rise to the challenge.
25. He Met A Nosey Freelancer
In that retelling, the man pressing Vanderbilt was Clarence P Dresser, a plucky freelance reporter looking for a scoop. Dresser heard Vanderbilt was staying at the Grand Pacific, showed up uninvited, and demanded to know how he’d compete with the new line. Apparently, with a line of his own—just not a railway line.
Unknown authorUnknown author, Wikimedia Commons
26. He Had A One-Liner Locked And Loaded
Vanderbilt reportedly told Dresser that he wasn’t planning on competing with the new railroad. When Dresser asked, “But won’t the public demand it?” Vanderbilt allegedly fired back: “O, the public be damned!” He wasn’t interested in public demands—only profit margins.
The final version of the story makes Vanderbilt seem almost empathetic.
Miscellaneous Items in High Demand, PPOC, Library of Congress, Wikimedia Commons
27. His Dinner Was Interrupted
Yet another account of the infamous line claims Vanderbilt was mid-dinner when Dresser stormed into his private train car. The rail tycoon had been put on a sidetrack, probably leaving him irritable and in mood for pushy reporters.
Marc Ferrez, Wikimedia Commons
28. He Put The Journalist On Ice
Ever the gentleman (barely), Vanderbilt didn’t toss Dresser out immediately. Instead, he mustered up the patience to tell Dresser to sit tight while he finished his meal. The grace period didn’t last long.
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
29. He Had Enough
As the story goes, Dresser was in too much of a rush to meet his publication deadline to wait for Vanderbilt to chew his steak. So, he continued pressing until Vanderbilt finally lost it. “But, it is getting late and I will not reach the office in time. The public—,” Dresser tried. Vanderbilt slammed back, “The public be damned! You get out of here!”
At least he didn’t throw his plate.
Frederick Burr Opper, Wikimedia Commons
30. He Said It Like It Was
Between the different versions of the story and moral outrage at his comments, Vanderbilt’s point of view got lost. In his interview with Sherman, Vanderbilt explained the reality of the situation: “Railroads are not run for the public benefit, but to pay,” he said. “The aim is to earn a dividend”.
The dividend he was getting, however, was backlash.
Unknown photographer, Wikimedia Commons
31. He Tried Damage Control
In a desperate attempt to salvage his reputation, Vanderbilt scrambled to clarify his remarks. He quickly organized a follow-up interview with the Chicago Times. But, by that time, the phrase had already stuck. “The public be damned” wasn’t just a quote anymore—it was his legacy.
32. He Got Burned In Print
Regardless of the circumstances for his comments—or whether he actually made them—the press had a field day with the story. For years, newspaper after newspaper referenced the quote when talking about America’s ruthless industrialists. Whether or not Vanderbilt used those exact words, the damage was done: he became the spokesperson for the robber barons.
Eastman Johnson, Wikimedia Commons
33. His Father Took The Blame
In the decades following his inflammatory comments, a funny thing happened in Vanderbilt’s favor: his father took the wrap! As the quote passed from news to history, its progenitor in the public imagination shifted from Billy to his father, the “Commodore”, turning the elder Vanderbilt into a caricature of American capitalism.
In reality, Vanderbilt wasn’t a mean millionaire. Quite the opposite.
Painter: Nathaniel Jocelyn (1796 - 1881)Photographer: cliff1066, Wikimedia Commons
34. He Watched Grant Walk Into A Trap
In the early 1880s, the former US president, Ulysses S Grant, became embroiled in a controversy that would show Vanderbilt’s compassionate side. Grant’s son, Buck, opened a brokerage firm with a flashy financial upstart, Ferdinand Ward, who had earned a reputation as the “Napoleon of Wall Street”—for all the wrong reasons. The firm, Grant & Ward, dazzled investors.
Vanderbilt, however, watched on with curiosity.
Brady National Photographic Art Gallery (Washington, D.C.), photographer., Wikimedia Commons
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
35. He Saw A Scam Coming
To the amazement of Wall Street investors, Ward paid out lavish returns to his investors. Some industrialists, however—Vanderbilt amongst them—thought there was something odd about Ward’s dealings. Indeed, there was. Ward was pledging the same securities over and over again in an act of financial trickery called a Ponzi scheme.
It was about to come crashing down with dire consequences for a US president and America’s richest man.
Unknown authorUnknown author, Wikimedia Commons
36. He Watched Grant Panic
When the truth about Ward’s scheme started to surface in 1884, Ward casually admitted to Grant that the firm was sinking. But, instead of fessing up to the whole thing, he spun it as a temporary hiccup. Something that he could fix, if Grant could just help him secure some financing from, say, someone as rich as William Henry Vanderbilt.
Unknown authorUnknown author, Wikimedia Commons
37. He Loaned The President A Fortune
As the walls closed in on Ward and Buck, Grant turned to the richest man in town: Vanderbilt. Not wanting to question the integrity or intelligence of a former US president, Vanderbilt lent him $150,000—nearly $4 million in today’s dollars. The gesture was generous. It was also disastrous.
Brady-Handy Photograph Collection, Library of Congress, Wikimedia Commons
38. His Money Didn’t Help
Eventually, even with a loan from Vanderbilt by way of Grant, Ward’s brokerage firm collapsed, precipitating the devastating Panic of 1884. The incident spelled financial ruin for Grant, leaving him penniless. However, Vanderbilt stunned everyone with his response.
39. He Was Full Of Forgiveness
Vanderbilt could have used the embarrassing collapse of Ward & Grant to ask for any political favors he wanted. Instead, he chose mercy. Vanderbilt offered to write off Grant’s loan but, out of pride, the former US president refused. He was determined to repay every cent—even if it meant giving up his legacy.
Constant Mayer, Wikimedia Commons
40. He Took The President’s House (Not The White One)
Grant refused Vanderbilt’s generous offer of debt forgiveness—but he didn’t have any money with which to repay him. So, instead of cash, Vanderbilt claimed ownership of Grant’s home. Once again, he proved his generosity and good nature, allowing the former president and his family to remain in their home.
Plus, Grant had other possessions he coveted.
E. W. Pacil, Wikimedia Commons
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
41. He Accepted Memorabilia Over Money
To make good on the debt, Grant offered Vanderbilt something even more precious than money: memories. As a form of repayment, Vanderbilt accepted Grant’s sword and personal memorabilia from the American Civil Conflict. They were priceless gems, indeed.
National Museum of American History, Wikimedia Commons
42. He Called It Even
Despite their historical significance, Grant’s treasured relics from America’s troubled past didn’t add up to the $150,000 debt he owed the world’s richest man. But Vanderbilt once again surprised everyone with his own generosity. Instead of counting nickels and dimes, Vanderbilt erased the remaining balance of Grant’s debt and considered it repaid.
Then he really left everyone speechless.
43. He Returned It All
Vanderbilt didn’t begrudge Grant his pride. In fact, he admired it. However, when Grant passed on, Vanderbilt found a touching way to honor his memory. He quietly gathered the rest of Grant’s scattered memorabilia and returned it to his widow, Julia. It seemed his days of damning the public were over.
Mathew Benjamin Brady / Levin Corbin Handy, Wikimedia Commons
44. He Handed Over The Reins
By 1883, Vanderbilt massively expanded the railroad empire that he had started building with his father. And he figured that time had come for him to pass on the reins to one of his own nine children. He resigned from all his company presidencies and handed control to his sons. Even so, he was still working.
And would until his final moments.
Erastus Wiman, Wikimedia Commons
45. His Last Appointment Was Fatal
On December 8, 1885, Vanderbilt met with Robert Garrett, the president of the Baltimore and Ohio Railroad. It would be his final business appointment. Mid-conversation, he suffered a massive stroke and collapsed. Just like that, one of the most revered and reviled men in business was gone.
Miscellaneous Items in High Demand, PPOC, Library of Congress, Wikimedia Commons
46. He Got A Monumental Resting Place
True to form, Vanderbilt didn’t settle for a modest headstone. He had already commissioned the grand Vanderbilt Family Mausoleum on Staten Island—where he was laid to rest in a fitting display of Gilded Age grandeur. The legacy he left behind, however, was not that of a railroad empire.
Charles Graham, from the architect's drawings (Richard Morris Hunt)., Wikimedia Commons
History's most fascinating stories and darkest secrets, delivered to your inbox daily.
47. He Had A Philanthropic Streak
Despite his reputation for ruthlessness, Vanderbilt gave generously and made his family name synonymous with philanthropy. He donated to the YMCA, arts programs, and helped fund the creation of the Metropolitan Opera. However, even some of his “charity” looked a lot like cold, hard business pragmatism.
Unknown or not provided Retouched by Mmxx, Wikimedia Commons
48. He Made An Opera House Out Of Spite
As the Gilded Age kicked into high gear, New York’s old-money elite shunned new money industrialists like the Vanderbilts from the prestigious Academy of Music. So, Vanderbilt got even the only way he knew how: business. The Metropolitan Opera was his response to the old money elites turning their noses up at him and people like him.
You definitely couldn’t call him uncultured.
49. He Turned His Mansion Into A Museum
Even if he made his money from greasy railroads, Vanderbilt was as refined as any aristocrat. A passionate art collector, he packed his palatial Fifth Avenue mansion with over 200 priceless works of art, most from the Old Masters. He was, himself, a master of industry.
Wurts Brothers, Wikimedia Commons
50. He Doubled A Dynasty
When his father, the “Commodore”, passed on, Vanderbilt had inherited a nearly $100 million empire. Against all of the odds—from a mean father to a snobbish elite—Vanderbilt doubled the fortune his father had given him. Whatever anyone thought of him—tyrant, tycoon, or titan—he proved everyone wrong.
You May Also Like:
All The Vanderbilts' Dirty Secrets
The World's Worst Mother Was A Vanderbilt
.jpg){kind=link}
