Camilla Jessen
In the annals of American wealth, few names provoke as much disdain as Jay Gould.
Bribery, treason, and financial chaos.
Few tycoons stirred more outrage in America than Jay Gould, the man Mark Twain once called a “national disaster.”
From Poverty to Ruthless Power
Jay Gould was born in 1836 in rural New York, the son of a farmer.
But unlike other self-made men of his time, Gould’s rise wasn’t fueled by innovation or grit. It was driven by relentless manipulation and an utter disregard for ethics.
A Young Man Obsessed With Wealth
From a young age, Gould demonstrated an insatiable hunger for money.
At 17, he broke the law to build a railway for a fee, defying a court order.
That stunt would set the tone for a career defined by legal loopholes, bribery, betrayal, and stock manipulation.
Manipulating Railroads
Gould’s business ventures were legendary for their cunning.
By 1859, he was investing in railroads, bribing officials, and manipulating stock prices until he owned one-sixth of the nation’s railroads.
When acquiring the Manhattan Railway in New York, he orchestrated a media campaign through the New York World that falsely claimed the railway was failing, allowing him to buy stock at a bargain price.
Orchestrating a Financial Crisis
Later, Gould attempted to bribe individuals in President Grant’s inner circle to manipulate gold prices.
This scheme caused a national financial crisis, driving several banks to the brink of collapse.
Long List of Enemies
Gould’s unscrupulous methods earned him countless enemies.
Investors he ruined attacked him physically, at times throwing him down stairs or threatening him with a gun.
“A Cannibal in Human Form”
Newspapers described him as “a cannibal in human form” and “the most hideous creature that ever fluttered like a bat into the field of vision of the American people.”
Mark Twain called him “the greatest disaster that ever befell this country.”
The Era of Robber Barons
Gould was one of several so-called robber barons who dominated America’s economy in the late 19th century.
The term—first appearing in newspapers in the 1870s—was used to describe powerful industrialists who built monopolies, exploited workers, and held immense sway over politicians.
Here are a few other noteworthy figures who fit that description:
John D. Rockefeller
Founder of Standard Oil, John D. Rockefeller used aggressive acquisitions and secret deals to dominate the U.S. oil industry.
Standard Oil was eventually broken up in 1911 after being found guilty of operating an illegal monopoly.
Andrew Carnegie
Andrew Carnegie revolutionized steel production but built his fortune on low wages and harsh conditions.
The 1892 Homestead Strike, in which guards killed several workers, left lasting resentment among laborers.
J.P. Morgan
One of the most powerful bankers of his era, J. P. Morgan manipulated financial markets and consolidated industries, including nearly monopolizing steel.
His influence often prioritized personal gain over public good.
Henry Ford
Henry Ford transformed the automobile industry through assembly-line production but imposed harsh working conditions and spread anti-Semitic propaganda through his newspaper.
Adolf Hitler cited Ford as an inspiration.
Legacy of Hatred
Among this pantheon of controversial industrialists, Jay Gould stands out as the richest and most despised.
His combination of cunning, ruthlessness, and disregard for law and morality made him a symbol of unchecked capitalist greed in America.
The article is based on information from Historie.
This article is made and published by Camilla Jessen, which may have used AI in the preparation
