Ormond, Florida American industrialist and philanthropist John D. Rockefeller, an American industrialist a person who owns or oversees an industrial corporation and philanthropist a person who works to help mankindfounded the Standard Oil Company, the University of Chicago, and the Rockefeller Foundation. His father owned farm property and traded in many goods, including lumber and patent medicines. His mother, who was quite the opposite of his father's fun-loving ways, brought up her large family very strictly.
Rockefeller "What a Funny Little Government! Rockefeller in this cartoon which appeared in The Verdict, a partisan magazine of the day. In a pure sense, the goal of any capitalist is to make money.
Rockefeller could serve as the poster child for capitalism. Overcoming humble beginnings, Rockefeller had the vision and the drive to become the richest person in America. Robber Baron or Captain of Industry? Rockefeller What was his secret? Is he to be placed on a pedestal for others as a "captain of industry?
Rockefeller was born in in Moravia, a small town in western New York.
His father practiced herbal medicine, professing to cure patients with remedies he had created from plants John d rockefeller the area. After being graduated from high school inthe family sent him to a Cleveland business school.
Young John Rockefeller entered the workforce on the bottom rung of the ladder as a clerk in a Cleveland shipping firm. Always thrifty, he saved enough money to start his own business in produce sales.
When the Civil War came, the demand for his goods increased dramatically, and Rockefeller found himself amassing a small fortune. He took advantage of the loophole in the Union draft law by purchasing a substitute to avoid military service. He slowly sold off his other interests and became convinced that refining oil would bring him great wealth.
Rockefeller introduced techniques that totally reshaped the oil industry. In the midth century, the chief demand was for kerosene. In the refining process, there are many by-products when crude oil is converted to kerosene.
What others saw as waste, Rockefeller saw as gold. He sold one byproduct paraffin to candlemakers and another byproduct petroleum jelly to medical supply companies.
He even sold off other "waste" as paving materials for roads. He shipped so many goods that railroad companies drooled over the prospect of getting his business.
Rockefeller demanded rebates, or discounted rates, from the railroads. He used all these methods to reduce the price of oil to his consumers. His profits soared and his competitors were crushed one by one.
Rockefeller forced smaller companies to surrender their stock to his control. Standard Oil — a Trust-worthy Company? Rockefeller had to perform a delicate balancing act to maintain his reputation as a philanthropist while living the live of a wealthy businessman.
This sort of arrangement is called a trust. A trust is a combination of firms formed by legal agreement. Trusts often reduce fair business competition.
With the advent of the automobile, gasoline replaced kerosene as the number one petroleum product. Rockefeller was a bona fide billionaire. Critics charged that his labor practices were unfair. Employees pointed out that he could have paid his workers a fairer wage and settled for being a half-billionaire.
Before his death inRockefeller gave away nearly half of his fortune. Churches, medical foundations, universities, and centers for the arts received hefty sums of oil money. Whether he was driven by good will, conscience, or his devout faith in God is unknown.
Regardless, he became a hero to many enterprising Americans.
Rockefeller and strengthened his resolve to support worthy causes. Several major philanthropic institutions resulted. This official website of the Foundation explains its various programs.Jul 21, · John D. Rockefeller was the founder of the Standard Oil Company and a Philanthropist who had a net worth of $ Billion.
John D. Rockefeller earned his net worth as anOccupation: Businessperson. John Davison Rockefeller, Sr. (July 8, – May 23, ) 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.
John Davison Rockefeller Sr. (July 8, – May 23, ) was an American oil industry business magnate, industrialist, and philanthropist. He is widely considered the wealthiest American of all time, and the richest person in modern history.. Rockefeller was born into a large family in upstate New York and was shaped by his con man father and religious mother.
John Davison Rockefeller was born the second of six children to a working class family in Richford, New York, a small community between Ithaca and tranceformingnlp.com , his family moved to a farm in Strongsville, Ohio, near tranceformingnlp.com pursued a public education, but left high school to take business training..
In , Rockefeller found his first job, working as an assistant bookkeeper for. Feb 26, · Watch video · John D. Rockefeller (), founder of the Standard Oil Company, became one of the world’s wealthiest men and a major philanthropist. Born into modest circumstances in upstate New York, he. Greed posing as philanthropy Tony Gosling John D Rockefeller began as a humble oil business book-keeper in Cleveland, Ohio and in just seven years rose to control a tenth of the entire US oil business.