Robber baron (industrialist)

The term robber baron was revived in the 19th century in the United States as a pejorative term describing businessmen who used unscrupulous tactics in their business operations and on the stock market to amass huge personal fortunes. Many of their massive businesses controlled a large majority of all activity in the respective industry, often arrived at through practices that are now illegal. Some of these businessmen became great philanthropists, donating huge sums to educational, cultural, and charitable institutions.

Related Topics:
19th century - United States - Stock market - Philanthropist

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The term "robber baron" was originally applied to medieval German lords who illegally charged exorbitant tolls for ships traversing the Rhine river.

Related Topics:
Robber baron - German - Toll - Rhine

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Though public opinion has long been against the robber barons, some historians argue that it was they who made the United States into a world power at the beginning of the 20th century, because of their large investments in industry, infrastructure, and education. Many of these men established dynasties, large philanthropic trusts, or both.

Related Topics:
United States - 20th century - Industry - Dynasties - Philanthropic trust

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List of notable businessmen who were called robber barons:

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• John Jacob Astor (real estate, fur)
• Andrew Carnegie (steel)
• Jay Cooke (finance)
• Daniel Drew (finance)
• James Fisk (finance)
• Henry Flagler (railroads)
• Henry Ford (automobile)
• Henry Clay Frick (steel)
• Jay Gould (finance, railroads)
• Edward Henry Harriman (railroads)
• Collis P. Huntington (railroads)
• James J. Hill (railroads)
• J. P. Morgan (banking)
• John D. Rockefeller (oil, the Standard Oil company)
• Leland Stanford (railroads)
• Cornelius Vanderbilt (railroads, shipping)
 
Robber baron (industrialist): In popular culture ►