What were some
philanthropic ways that
Vanderbilt used his
money?
Cornelius Vanderbilt, one of the richest men in American history, was known for his philanthropic endeavors. Here are some examples of the philanthropic ways that Vanderbilt used his money:
1. Vanderbilt University: The most notable philanthropic act of Vanderbilt was the establishment of Vanderbilt University in Nashville, Tennessee. He donated $1 million towards the construction of the university in 1873, making it one of the largest donations to higher education at the time.
2. Church Donations: Vanderbilt was known to be a devout Christian, and he made significant donations to various churches. He donated to the Fifth Avenue Presbyterian Church in New York City, where he attended regularly. Additionally, he supported other churches and charities through consistent donations.
3. Yale University: Vanderbilt endowed scholarships and funds to Yale University, supporting their education and research initiatives. His donation was used to establish the Vanderbilt Clinic and a scholarship program for students at Yale's medical school.
4. Vanderbilt Clinic: In addition to his donation to Yale, Cornelius Vanderbilt donated $500,000 to construct a state-of-the-art medical clinic in New York City, which came to be known as the Vanderbilt Clinic. This clinic aimed to provide advanced medical care and research facilities.
5. Staten Island Academy: Vanderbilt donated funds to establish the Staten Island Academy, a private school on Staten Island, New York. The donation was made to provide education opportunities for the local community.
6. Church-Related Projects: Vanderbilt supported church-related projects such as the founding of a church and a seminary in North Carolina, as well as the construction of a church in Newport, Rhode Island.
7. Water Supply System: Vanderbilt funded the construction of a water supply system in Staten Island, providing clean and accessible water to the local community.
8. Orphan Asylums: Vanderbilt made donations to various orphan asylums and children's homes, aiming to provide a better life and support for abandoned or orphaned children.
It is important to note that although Vanderbilt made substantial philanthropic contributions, his accumulation of wealth was often criticized for exploiting workers and engaging in cutthroat business practices.