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Entrepreneurship

15 Ruthless Tycoons Who Built — and Broke — America

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6. Jay Gould

6. Jay Gould
Image Source: Wikimedia Commons.

Jay Gould was a notorious financier and railroad magnate in the late 19th century, renowned for his unscrupulous business practices. He gained control of the Erie Railroad through stock manipulation, issuing fraudulent shares and bribing legislators to legalize them. In 1869, Gould and his associate James Fisk attempted to corner the gold market, leading to the Black Friday panic when the U.S. Treasury intervened, causing gold prices to plummet and resulting in widespread financial turmoil (explore.money.britannica.com).

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