Final answer:
Commodore Cornelius Vanderbilt, known for his industrial contributions to the railroad industry and luxurious lifestyle, spent his money on consolidating railroads to create efficient connections and indulging in the extravagant culture of the Gilded Age’s wealthy class.
Step-by-step explanation:
Commodore Cornelius Vanderbilt was a key figure during the American Gilded Age and was known particularly for his industrial contributions to the railroad industry. Beyond his business endeavors, Vanderbilt's use of his fortunes reflected the indulgent culture of the ultra-wealthy of his time. His wealth, amounting to over $100 million by his death in 1877, positioned him among the wealthiest individuals in American history. While the Vanderbilts were known for their luxurious lifestyle and extravagant spending, specific details about Cornelius Vanderbilt's personal expenditures are less documented compared to his industrial investments and philanthropy.
Vanderbilt's consolidation of smaller railroad lines into the New York Central Railroad Company revolutionized transportation and had a significant impact on the American economy. He strategically acquired stock in major rail lines to expand his reach from New York City to Chicago, effectively connecting Eastern markets with Midwestern suppliers. This model of consolidation was critical as, by 1900, seven railroad tycoons controlled over 70 percent of the nation's railway lines.