During the 19th-century railroad boom, a sharp-eyed group of tycoons turned steel rails into personal empires. Their strategies ranged from clever to controversial, but they all played a role in transforming the U.S. economy. Here are 15 railroad barons who cashed in on America’s obsession with going full steam ahead.
Cornelius Vanderbilt
Before trains, Vanderbilt ran steamboats. He consolidated railroads into the New York Central system when he switched tracks. His aggressive takeovers and control of major eastern lines made him one of the wealthiest Americans ever. Even with his sharp-elbowed tactics, he left a softer mark by founding Vanderbilt University.
Leland Stanford
Stanford helped drive the “golden spike” that completed the Transcontinental Railroad, but his story didn’t end there. He used his fortune to found Stanford University and leave a lasting educational legacy. As president of the Central Pacific Railroad, he lobbied in Washington while expanding lines out west.
Jay Gould
Gould earned nicknames like “Mephistopheles of Wall Street” for a reason. He manipulated stock prices, outwitted rivals, and bought up railroads until he controlled one-sixth of U.S. track. His involvement in the Gold Ring chaos made him rich and reviled. Love him or loathe him, Gould’s tactics reshaped railroad capitalism.
James J. Hill
Hill didn’t rely on government subsidies to build his empire. The man behind the Great Northern Railway expanded west with a focus on sustainability and long-term planning. He recruited immigrants to settle along his routes and prioritized efficiency over flash. He proved you didn’t need bribery or bailouts to thrive.
E.H. Harriman
Union Pacific was in rough shape before Harriman took the throttle. He modernized everything from the tracks to the timetables and made the railroad profitable and powerful again. His meticulous planning and appetite for control helped revive the entire Western network.
Charles Crocker
When tasked with building rail lines across the Sierra Nevada, Crocker didn’t blink. He headed construction for Central Pacific and famously brought in thousands of Chinese laborers to complete grueling work. His choice sped up progress, though not without backlash.
William H. Vanderbilt
Cornelius Vanderbilt’s son didn’t just inherit wealth—he doubled it. William expanded the family railroad empire aggressively, even uttering the infamous line, “The public be damned,” when asked about serving passengers. Efficiency, scale, and profitability guided his approach. He may not have won hearts, but he definitely won market share.
Collis P. Huntington
Huntington handled the East Coast lobbying for the Central Pacific Railroad while his partners built tracks. His sharp business sense made him indispensable to the Big Four. Later, he developed the Chesapeake and Ohio Railway, opening up West Virginia coalfields to national markets, and helped the American industry.
Henry Flagler
Flagler helped build Standard Oil with Rockefeller, but Florida made him famous in rail circles. He turned remote beaches into bustling resort towns by extending the Florida East Coast Railway through swampy terrain. Miami, Palm Beach, and even the Keys flourished thanks to his bold expansions.
Mark Hopkins
As treasurer of Central Pacific, Hopkins made sure the whole operation didn’t derail financially. His frugal nature earned him the trust of partners who handled louder roles. Though less famous than his Big Four colleagues, Hopkins’ behind-the-scenes discipline kept their massive project moving forward.
George Westinghouse
Without Westinghouse, trains might still be screeching to stops with handbrakes. His invention of the air brake revolutionized train safety and allowed locomotives to go faster without increasing risk. The system quickly became a standard across rail lines. He engineered convenience and made long-distance rail viable for both freight and passengers.
Russell Sage
A former congressman turned financier, Sage brought telegraphs to railroads, thus boosting coordination and communication. But he’s better remembered for his wild financial maneuvers. After partnering with Jay Gould, he used market manipulation and insider trading to wrest control of key rail lines.
Edward H. R. Green
Green took the Texas Midland Railroad and pioneered improvements in infrastructure and comfort, including steel coaches and better track maintenance. Under his leadership, this modest railroad became known for punctuality and innovation. Though never the biggest name, Green showed how modernization could move the industry forward.
Cyrus Field
Best known for laying the first transatlantic telegraph cable, Field didn’t stop at communication. He invested heavily in railroads, including New York’s elevated lines. His drive to link people, by cable or rail, left an imprint on how Americans moved and connected.
J.P. Morgan
Morgan didn’t build railroads—he bought them, merged them, and made them profitable. Through high-stakes deals, he formed Northern Securities, uniting major lines under one umbrella. Aside from rails, he also stabilized financial markets during panics and dictated industrial policy.