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However, such monopolies typically face regulatory and competitive pressures, and the Asphalt Trust collapsed just a few years later, around 1901. Despite this, Barber had already amassed significant wealth, living as a prominent industrial magnate.
Venturing into Automotive Innovation
Parallel to his pursuits in asphalt, Barber's entrepreneurial spirit extended into the burgeoning automobile industry. In 1898, he acquired manufacturing rights for Stanley Brothers’ steam-powered cars and founded the Locomobile Company, making him one of America's earliest automobile manufacturers.