Jay Gould

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Jay Gould (1836-1892) was an American financier, railroad developer, and speculator who gained notoriety as one of the most ruthless robber barons of the Gilded Age. Known for his unscrupulous business practices and market manipulations, Gould amassed a fortune through various ventures, most notably in railroads and the stock market.
== Background ==
Born Jason Gould in Roxbury, New York, he began his career as a surveyor and tanner before turning to finance and speculation. Gould's first major business success came in 1859 when he acquired the Rutland and Washington Railroad at a bargain price. This marked the beginning of his foray into the railroad industry, which would become the cornerstone of his fortune.
=== Career ===
Gould's career in railroads began in earnest in 1859 when he started speculative investing by buying stock in small railways. In 1868, he became a director of the Erie Railroad, partnering with James Fisk and Daniel Drew to wrest control from Cornelius Vanderbilt. The trio engaged in a series of controversial stock manipulations, including issuing fraudulent stock and bribing legislators, which became known as the "Erie War."
Gould's most infamous scheme was his attempt to corner the gold market in 1869, which led to the financial panic known as "Black Friday." By manipulating gold prices and attempting to influence government policy, Gould drove up the price of gold dramatically. When the government intervened by selling its gold reserves, the market crashed, causing widespread economic distress.
After losing control of the Erie Railroad in 1872, Gould turned his attention to western railroads. He took control of the Union Pacific in 1873 and built a viable railroad that depended on shipments from farmers and ranchers. By 1879, Gould had gained control of several important Western railroads, including the Missouri Pacific Railroad and the Denver and Rio Grande Railway. At his peak, he controlled about one-ninth of the rail network in the United States.
Throughout his career, Gould's business tactics often involved stock watering, insider trading, and political corruption, earning him a reputation as one of the most hated men in America. Despite his notoriety, Gould made significant contributions to the development of American infrastructure, helping to expand and consolidate the nation's railroad network.
By the time of his death in 1892, Gould had amassed a fortune estimated at $72 million, making him one of the wealthiest men of his era. His legacy remains controversial, with historians debating his impact on American business and society.
== Education ==
Gould studied at the Hobart Academy in Hobart, New York, paying his way by bookkeeping. He devoted himself to private study, emphasizing surveying and mathematics. In 1856, he published "History of Delaware County, and Border Wars of New York," which he had spent several years writing.
== References ==	
Category:Investors
Category:Speculators
Category:Railroad Industry
Category:19th Century
Category:Wall Street
Category:Erie Railroad - Former Employees
Category:Union Pacific Railroad - Former Employees
Category:Missouri Pacific Railroad - Former Employees
Category:Western Union - Former Employees