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Oct 13, 2013 · Become a patron. John Davison Rockefeller was a Christian, an industrialist and a great philanthropist who founded, among other institutions, the University of Chicago and The Rockefeller Institute for Medical Research (now known as Rockefeller University) in New York City. Born in 1839 to William and Eliza Rockefeller, John was the second of ...
May 2, 2024 · John D. Rockefeller (left) walking with his son, John D. Rockefeller, Jr., about 1915. Rockefeller, Sr., was an American industrialist and philanthropist and founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Library of Congress, Washington, D.C. (cph 3a48646) A devout Baptist ...
He became the richest man of his time, and indeed has a good claim to perhaps being the richest self-made man who ever lived. At its peak, Rockefeller’s net worth was around 1.5 percent of the country’s total annual economic output—the equivalent of about $280 billion today, or about three times the wealth controlled by Bill Gates.
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But there was another side to him. “Rockefeller’s fortune peaked in 1912 at almost $900,000,000, but his estate totaled only $26,410,837 when he died,” Parr writes, “making him the biggest ...
- Who Was John D. Rockefeller?
- Early Years
- Standard Oil
- Antitrust Issues
- Later Years, Death & Legacy
American industrialist John D. Rockefeller 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 United States, but his business practices led to the passing of antitrust laws. Later in life, Rockefeller devoted himself to philanthropy. He died in 193...
Born in Richford, New York, on July 8, 1839, John Davison Rockefeller moved with his family to Cleveland, Ohio, at the age of 14. Unafraid of hard work, he embarked on a number of small-business ventures as a teenager, landing his first real office job at age 16, as an assistant bookkeeper with Hewitt & Tuttle, commission merchants and produce ship...
In 1870, Rockefeller and his associates incorporated the Standard Oil Company, which immediately prospered, thanks to favorable economic/industry conditions and Rockefeller’s drive to streamline the company’s operations and keep margins high. With success came acquisitions, as Standard began buying out its competitors. Standard’s moves were so quic...
With such an aggressive push into the industry, the public and the U.S. Congress took notice of Standard and its seemingly unstoppable march. Monopolistic behavior was not kindly regarded, and Standard soon became the epitome of a company grown too big and too dominant, for the public good. Congress jumped into the fray with both feet in 1890 with ...
Rockefeller was a devout Baptist, and once retired from the daily operations of running one of the world’s largest businesses (in 1895, at age 56), he kept himself busy with charitable endeavors, becoming one of the more respected philanthropists in history. His money helped pay for the creation of the University of Chicago (1892), to which he gave...
In 1891, under doctor’s orders, Rockefeller spent eight months recuperating at the family’s summer home near Lake Erie. As his health was gradually restored, he decided to retire from the active management of his affairs. From a young age, he had set two goals for himself: to make $100,000 and to live to be 100.
John D. Rockefeller. John Davison Rockefeller, Sr. (July 8, 1839 – May 23, 1937) was an American industrialist and philanthropist who played a pivotal role in the establishment of the oil industry and defined the structure of modern philanthropy. Rockefeller strongly believed that his purpose in life was to make as much money as possible and ...
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