who profited the most from the california gold rush
California Gold Rush Recent scholarship confirms that merchants made far more money than miners during the Gold Rush.[100][101] The wealthiest man in California during the early years of the rush was Samuel Brannan, a tireless self-promoter, shopkeeper and newspaper publisher.[102] Brannan opened the first supply stores in Sacramento, Coloma, and other spots in the goldfields. Just as the rush began he purchased all the prospecting supplies available in San Francisco and re-sold them at a substantial profit.[102]
California What is now California was first settled by various Native Californian tribes before being explored by a number of European expeditions during the 16th and 17th centuries. The Spanish Empire then claimed it as part of Alta California in their New Spain colony. The area became a part of Mexico in 1821 following its successful war for independence but was ceded to the United States in 1848 after the Mexican–American War. The western portion of Alta California then was organized and admitted as the 31st state on September 9, 1850. The California Gold Rush starting in 1848 led to dramatic social and demographic changes, with large-scale emigration from the east and abroad with an accompanying economic boom.