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John D. Rockefeller was the head of the Standard Oil Company and one of the world's richest men. He used his fortune to fund ongoing philanthropic causes.
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The Rockefellers - Full Biography
The Rockefellers have been a driving force in American industry and philanthropy since the 19th century. One of them started standard oil, another collected art and ran for President.
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Play NowJohn Davison Rockefeller. (2013). The Biography Channel website. Retrieved 06:22, Jun 19, 2013, from http://www.biography.com/people/john-d-rockefeller-20710159.
John Davison Rockefeller. [Internet]. 2013. The Biography Channel website. Available from: http://www.biography.com/people/john-d-rockefeller-20710159 [Accessed 19 Jun 2013].
"John Davison Rockefeller." 2013. The Biography Channel website. Jun 19 2013, 06:22 http://www.biography.com/people/john-d-rockefeller-20710159.
"John Davison Rockefeller," The Biography Channel website, 2013, http://www.biography.com/people/john-d-rockefeller-20710159 [accessed Jun 19, 2013].
"John Davison Rockefeller," The Biography Channel website, http://www.biography.com/people/john-d-rockefeller-20710159 (accessed Jun 19, 2013).
John Davison Rockefeller [Internet]. The Biography Channel website; 2013 [cited 2013 Jun 19] Available from: http://www.biography.com/people/john-d-rockefeller-20710159.
John Davison Rockefeller, http://www.biography.com/people/john-d-rockefeller-20710159 (last visited Jun 19, 2013).
John Davison Rockefeller. The Biography Channel website. 2013. Available at: http://www.biography.com/people/john-d-rockefeller-20710159. Accessed Jun 19, 2013.
Synopsis
John D. Rockefeller was born July 8, 1839, in Richford, New York. He built his first oil refinery near Cleveland and in 1870 incorporated the Standard Oil Company. By 1882 he had a near-monopoly of the oil business in the U.S, but his business practices led to the passing of antimonopoly laws. Late in life Rockefeller devoted himself to philanthropy. He died in 1937.
Contents
Quotes
"Don't be afraid to give up the good to go for the great."
Early Years
Entrepreneur. John D. Rockefeller was an American industrialist who rose from humble beginnings. He founded the Standard Oil Company, a dominating force in the American economy that propelled its founder to become the world's richest man.
Born in Richford, New York on July 8, 1839, Rockefeller moved with his family to Cleveland at the age of 16. Unafraid of hard work, he took on a number of small business ventures as a teenager and at age 16, he landed his first real office job as an assistant bookkeeper with Hewlett & Tuttle, commission merchants and produce shippers.
By the age of 20, Rockefeller, who'd thrived at his job, ventured out his own with another business partner, working as commission merchants in hay, meats, grain and other goods. At the close of the company's first year in business, it had grossed $450,000.
A careful and studious businessman who refrained from taking unnecessary risks, Rockefeller sensed an opportunity in the oil business by the early 1860s, and in 1863 he opened his first refinery, just outside Cleveland. Less than a decade later, Rockefeller, founder of the Standard Oil Company, had near-total control of the region's refineries.
Standard Oil
When the oil business moved east to Pennsylvania, Rockefeller followed it. By the early 1880s, he dominated the oil business throughout the country and his company had a net worth of $55 million. Standard's dominance stemmed from its near control (and ownership) of almost every aspect the business. Under Rockefeller's leadership, the company established a system of pipelines to transport its product. It owned train cars, and scooped up thousands of acres of forest for fuel.
In 1882, Rockefeller organized the Standard Oil Trust, a business trust that would serve as a model for the creation of other kinds of monopolies. Rockefeller, of course, was appointed head of the organization.
But as Rockefeller's power and wealth increased, his standing with the public nose-dived. By the early 1800s states began to enact antimonopoly legislation, paving the way for the 1890 passage of the Sherman Antitrust Act.
In 1895 the 56-year-old Rockefeller retired from his day-to-day involvement of Standard Oil and turned his focus toward philanthropic endeavors. His new direction did little to quell the attacks on Rockefeller and his business.
In 1904 Ida M. Tarbell wrote The History of Standard Oil, a damning book that told the tale of Standard Oil's ruthless business practices. In 1911, the corporation was found to be in violation of the Sherman Act and ordered to dissolve.
Later Years
John D. Rockefeller's charity proved considerable.
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Captains of Industry
View groupAmerica wasn't discovered, it was built. At the end of the Civil War, America was seen as a failing experiment in democracy; a nation fraying from the inside and at war with itself. Just 50 years later, the United States was the greatest superpower the world had ever seen. This landmark transition was due in no small part to a group of business-savvy, innovative young men: John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry Ford, J.P. Morgan and Thomas Edison. These men constructed a bold vision for a modern America and transformed the greatest industries of our time, including oil, rail, steel, shipping, automobiles and finance; they are unequivocally America's first captains of industry.
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The Rockefeller family
View groupWhile the term "American dynasty" might technically be an oxymoron, it's hard not to notice the similarities between the Rockefeller family and noble lineages that have spanned the globe for centuries. Like royal families have done in other nations, the Rockefellers have had a profound and irrevocable impact on the United States—from the oil and banking industries to property development, to politics and philanthropy—which will continue to resound for generations to come. Beginning with John D. Rockefeller Sr., who founded the Standard Oil Company and became one of the world's richest men, the Rockefeller troupe also includes John D. Rockefeller III, Winthrop Rockefeller, Nelson Rockefeller, Laurance Rockefeller and David Rockefeller.
The Rockefeller family 5 people in this group
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Famous Cancerians 557 people in this group
