In which industries did Vanderbilt build his wealth?
Mining and textiles
Railroads and shipping
Banking and real estate
Oil and steel
Answer
Vanderbilt's fortune stemmed from his dominance in the transportation sector. He amassed wealth through his investments in railroads and shipping. Vanderbilt's strategic acquisitions and consolidation of railroad lines created a vast network, giving him significant control over transportation in the United States. Additionally, his shipping empire, with its extensive fleet of steamships, played a crucial role in international trade and further solidified his financial standing.
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