The American Billionaire
By: Elyssa Madden
When did they live?
The majority of the billionaires lived during the Gilded Age. The only exceptions to this were Bill Gates and Warren E. Buffet. Both born in the 20th century and still living today.
What industry were they involved in?
The most popular industry among the billionaires would be technology (the invention of new things) and starting their own companies. Others made money from investment either in companies or the stock market.
How honest/ethical were they?
Out of they 31 billionaires only 3 seem to have been unethical in the building of their fortunes. Russell Sage gained most of his money on Wall Street by creating puts and calls. Jay Gould manipulated stocks and set off a panic in the gold market. Cornelius Vanderbilt undercut competitor's prices by making illegal runs across the New York Bay.
Interesting Details
Most of the billionaires came through the Gilded Age. With the rise of inventions and the stock market, it isn't surprising. Some of the billionaires also dedicated millions of dollars to charity and giving back. Bill Gates, one of the two not born during the Gilded Age, became a billionaire by the age of 31 and if he dropped a $100 bill it wouldn't even be worth it for him to pick up!