Final answer:
Cornelius Vanderbilt became one of America's wealthiest individuals by controlling the railroads and shipping industries, establishing the New York Central Railroad Company.
Step-by-step explanation:
The individual known for becoming one of the richest men in America by controlling the railroads and shipping industries is Cornelius Vanderbilt. Vanderbilt, also known as the 'Commodore,' significantly increased his wealth by consolidating several smaller railroad lines to create the powerful New York Central Railroad Company. His strategic investments in railroad trunk lines and stock purchases enabled him to establish a vast and efficient railroad network that connected Chicago to New York City, improving transportation between Midwestern suppliers and eastern markets. Unlike Andrew Carnegie, who dominated the steel industry, or John D. Rockefeller, known for his control over the oil industry, it was Vanderbilt who made his fortune in railroads and shipping, becoming one of America's wealthiest individuals of his time with a legacy that implanted him in the annals of American business history.