12. Daniel Drew
Daniel Drew was a prominent financier in the 19th century, renowned for his manipulative tactics on Wall Street. He was instrumental in the “Erie War,” a battle for control over the Erie Railroad, where he, along with partners Jay Gould and James Fisk, issued fraudulent stock to dilute Cornelius Vanderbilt’s holdings. This practice, known as “stock watering,” involved inflating the value of shares by issuing more than the company’s actual assets warranted. Drew’s aggressive strategies led to significant financial gains but also to his eventual downfall, as he lost $1.5 million in a stock manipulation scheme orchestrated by Gould and Fisk. Despite his wealth, Drew faced bankruptcy during the Panic of 1873 and died impoverished in 1879 (en.wikipedia.org).
