Name___________________________________ Big Business Tycoons: Robber Barons or Captains of Industry? Andrew Carnegie J.P. Morgan John D. Rockefeller Henry Ford Industry & Name of Company Industry & Name of Company Industry & Name of Company Industry & Name of Company Steel Financier- banking companies Oil industry Cars Carnegie Steel US Steel Corporation Standard Oil Company Ford Motor Company Railroads-JP Morgan and Co Treatment of Workers & Their Treatment of Workers & Their Treatment of Workers & Their Treatment of Workers & Their Competition Competition Competition Competition He owned every aspect of the Purchased Carnegie Steel and Bought out competition Welfare capitalism industry from start to finish merged with other steel Ruthless methods to drive out 5 day work week lowered pay of workers, after the industries to have a monopoly in competition Higher minimum wage workers went on strike, violence the Steel industry 8 hr work day broke out Low wages, unsafe working conditions, many workers died Use of Wealth Use of Wealth Use of Wealth Use of Wealth Art collector Gave to charities hundreds of Early sponsor of the Indianapolis Philanthropic works: including Written works collector millions of dollars 500 libraries and making donations Founded the University of Created a franchise of car Chicago-80 million dollars to the dealerships school Created many philanthropic institutions, Medical research Robber Baron or Robber Baron or Robber Baron or Robber Baron or Captain of Industry? Captain of Industry? Captain of Industry? Captain of Industry? Cornelius Vanderbilt Industry & Name of Company Steamship company, Street car Railroads New York Central Railroad Treatment of Workers & Their Competition Hired employees to work long hours and received low pay However, gave employment to thousands Who were previously unemployed Use of Wealth Not known for his philanthropy, left most of his wealth to his son, William 1 million to Central University which is now Vanderbilt University Robber Baron or Captain of Industry? .