The construction of the Transcontinental Railroad was a monumental achievement in American history, facilitating migration, trade, and connectivity across the country. However, certain individuals and entities reaped significant financial benefits from this project.
First and foremost, large railroad companies like the Union Pacific and Central Pacific Railroad benefited immensely. These companies received substantial land grants from the federal government, allowing them to sell parcels of land at a profit to settlers and investors. This infusion of cash and assets helped them grow rapidly and establish dominant positions in the industry.
Moreover, influential financiers and magnates, such as Leland Stanford (one of the