John Rockefeller: The Original Titan of American Industry

John Davison Rockefeller (July 8, 1839 - May 23, 1937) was an American industrialist, philanthropist, and business magnate. He is considered the richest person in modern history, with a net worth of around $300 billion in today's money. Rockefeller was the founder of Standard Oil, which became the largest oil company in the world. He was also a major philanthropist, donating large sums of money to education, health care, and the arts.

John D. Rockefeller - The Original Titan: Insight and Analysis into the Life of the Richest Man in American History (Business Biographies and Memoirs – Titans of Industry Book 3)

by J.R. MacGregor

4 out of 5

Language	:	English
File size	:	2629 KB
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Early Life and Career

Rockefeller was born in Richford, New York, to a farmer and lumberman named William Avery Rockefeller. His mother, Eliza Davison Rockefeller, was a devout Baptist who instilled in her son a strong work ethic and a belief in the importance of saving money. Rockefeller attended Cleveland Central High School and later worked as a bookkeeper and clerk in various businesses.

In 1863, Rockefeller and a partner named Maurice Clark founded a small oil refinery in Cleveland, Ohio. The company was successful, and Rockefeller soon expanded his operations into other areas of the oil industry. In 1870, he formed the Standard Oil Company of Ohio, which quickly became the dominant oil company in the United States.

The Standard Oil Trust

In 1882, Rockefeller merged Standard Oil of Ohio with several other oil companies to form the Standard Oil Trust. The trust controlled over 90% of the oil refining capacity in the United States. Rockefeller's control of the oil industry allowed him to set prices and eliminate competition.

The Standard Oil Trust was a powerful monopoly, and it quickly became the target of antitrust lawsuits. In 1911, the Supreme Court ordered the trust to be broken up into 34 separate companies. Rockefeller's control over the oil industry was broken, but he remained a wealthy and influential businessman.

Philanthropy

Rockefeller was a major philanthropist, donating large sums of money to education, health care, and the arts. He founded the University of Chicago, the Rockefeller Institute for Medical Research, and the Museum of Modern Art. He also donated money to build hospitals, libraries, and churches.

Rockefeller's philanthropy was motivated by his belief that wealth should be used to help others. He said, "I don't believe in inheritance. I believe in making the world better for the future."

Personal Life

Rockefeller was a devout Baptist and a teetotaler. He was married to Laura Celestia Spelman, and they had five children. Rockefeller was a private person who shunned the limelight. He lived in a modest home in Cleveland and rarely gave interviews.

Rockefeller died in Ormond Beach, Florida, on May 23, 1937. He was 98 years old. He is buried in Lake View Cemetery in Cleveland.

Legacy

John Rockefeller was one of the most influential figures in American history. He was a brilliant businessman who built the largest oil company in the world. He was also a major philanthropist who donated large sums of money to education, health care, and the arts. Rockefeller's legacy is a mixed one. He is remembered as a ruthless monopolist, but he is also remembered as a generous philanthropist.

John Rockefeller was a complex and controversial figure. He was a brilliant businessman who built a vast fortune, but he was also a ruthless monopolist who eliminated competition. He was a devout Baptist who donated large sums of money to charity, but he was also a private person who shunned the limelight. Rockefeller's legacy is a mixed one, but there is no doubt that he was one of the most influential figures in American history.

John D. Rockefeller - The Original Titan: Insight and Analysis into the Life of the Richest Man in American History (Business Biographies and Memoirs – Titans of Industry Book 3)

by J.R. MacGregor

4 out of 5

Language	:	English
File size	:	2629 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	175 pages
Lending	:	Enabled

FREE