Originally the use of the term robber baron derived from Germany; a robber baron initially referred to a feudal lord, usually in Germany, who charged huge tolls for those shipping goods through their lands. In 19th century United States, there was a huge influx of private business owners. Amongst these entrepreneurs, businessmen and bankers some succeeded far passed the others, dominating within their respective industries. They also amassed huge personal fortunes, typically as a result of using unethical, business practices to oust their competitors. It is common belief that story robber barons usually include a rag to riches scenario. However, that is not always the case; the majority of robber barons came from middle class families as opposed to families at the lowest echelon of society. Because of this they naturally had a better chance of obtaining jobs and creating larger networking circles.
Famous Robber Barons include John Jacob Astor, Jay Cooke, Daniel Drew, James Buchanan Duke, James Fisk, and Henry Flager. However the most famous robber barons were Andrew Carnegie and Rockefeller. Andrew Carnegie was born in Dunfermline, Scotland; his family later immigrated to the United States. At age fourteen Andrew became a messenger boy in the local Pittsburgh Telegraph Office, where he quickly was promoted to assistant secretary of war. After serving as President’s Washington’s right hand man, Carnegie invested in several lucrative business ventures including the Woodruff Sleeping Car Company and Keystone Bridge. Eventually he purchased the Woodruff Sleeping Car Company and actually was the first to introduce the first successful sleeping car on an American railroad. Subsequently he created the Carnegie Steel Corporation, which became the world’s largest steel manufacturer. In 1901, Andrew Carnegie sold his Carnegie Steel Corporation to J. P. Morgan for 480 million dollars.
John D. Rockefeller was also a very famous robber baron. Rockefeller, was born...