How did Leland Stanford make his money?
Answer (2)
Leland Stanford was an industrialist, business tycoon, politician, and the founder of Stanford University. During the California Gold Rush Stanford moved to California and started a whole sale business which grew as the economy boomed. Stanford helped to found a major railroad company the Central Pacific Railroad and went on to make large amounts of money, enough so for many to consider him a "Robber Baron" a name given to wealth and powerful 19th century American businessmen.
Leland Stanford made his money through a wholesale business during the Gold Rush and by co-founding the Central Pacific Railroad, which was instrumental in connecting California to the rest of the United States. His wealth increased through government support and monopolistic practices in the railroad industry. Stanford later became a philanthropist, founding Stanford University in 1885.
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