Question

The term Robber baron refers to wealthy and powerful 19th century American businessmen who used exploitative practices to amass their wealth. A philanthropist is a person who makes an active effort to promote human welfare and make a positive impact on society. Which is the best example of a "Robber baron" using his wealth in a "philanthropic" manner?
A) Jay Gould and his involvement with the "Tammany Hall" political ring.B) Cornelius Vanderbilt and the $1 million endowment he gave to Vanderbilt University.C) Alexander Graham Bell using his capital to purchase all of the stock of his competitors.D) The sale of Carnegie steel for $480 million to J.P. Morgan and the creation of U.S. Steel in 1901.

Answer 1

The best example of a “Robber baron” using his wealth in a “Philanthropic” manner is Cornelius Vanderbilt and the $1 million endowment he gave to Vanderbilt University.

Answer: Option B

Explanation:

As mentioned “Robber baron” means someone who makes wealth and become rich by involving in exploitative and dubious practices and Cornelius Vanderbilt is one such person but we can also see that he donated an bulk amount of $1 million to Vanderbilt university which seems like an effort to promote human welfare and make positive impact on the society which philanthropic usually do, So we can thus conclude option B as an apt example for the above.