Question

Who were two of the wealthiest men during this time period, and in what area did each gain their wealth? a) John D. Rockefeller gained wealth in the oil industry, and Andrew Carnegie in steel. b) Thomas Edison became wealthy through innovations in electricity, and J.P. Morgan in finance. c) Henry Ford earned wealth in the automobile industry, and Cornelius Vanderbilt in transportation. d) Benjamin Franklin accumulated wealth through printing and publishing, and George Washington in agriculture.

Answer 1

The two wealthiest men during the late 19th and early 20th century were John D. Rockefeller and Andrew Carnegie. Rockefeller gained his wealth from the oil industry while Carnegie earned his fortune from the steel industry. Both of them revolutionized their respective industries and contributed significantly to the growth of the United States.

Step-by-step explanation:

The two wealthiest men during the mentioned time period, which seems to be the late 19th and early 20th century, were John D. Rockefeller and Andrew Carnegie. Each of these men became phenomenally wealthy in different industries. John D. Rockefeller's wealth was amassed in the oil industry where he established the Standard Oil Company. This company gained significant control over the oil industry by refining crude oil into kerosene, which was used for both heating and lighting.

Andrew Carnegie, on the other hand, accumulated his wealth in the steel industry. He began his career in the Pennsylvania Railroad, which guided him into iron and steel industries. His earnings from past investments allowed him to modernize these industries, effectively transforming the industrial landscape of the United States.

Both Rockefeller and Carnegie significantly reshaped their respective industries and made critical contributions to the growth of the country. Their businesses changed the American lifestyle and set new standards for entrepreneurship in the country.

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