John D. Rockefeller was considered one of the first major philanthropists and entrepreneurs of the United States. He created the Standard Oil Company and from then, he revolutionized refinery production. It is important to analyze and study the methods he used and the period of time he used them in. The time period plays a major role because there was no industries being established around 1865 and yet Rockefeller managed to gain about ninety percent of the nations capacity of the refinery industry.
Many average people went into the oil industry. That included bakers, butchers, and even candlestick makers. It was such a concentrated industry, that eventually prices went down. However, there was a consequence to the falling of the prices. The …show more content…
Rockefeller was born in 1839 in upper New York State. He was a devout Baptist and kept himself busy with charitable endeavors. He was educated in Cleveland, Ohio and eventually married his wife, Laura Spelman Rockefeller. Together, they had two kids, John D. Rockefeller Jr., and Edith Rockefeller. The oil refining business first drew his attention after he became a partner in a grain and livestock business in 1859 and earned a large profit during the Civil War period. He created South Improvement Company. SIC was a plan that would have ensured each railroad a stable share of the shipping by the Rockefeller cartel. Other refining companies, however, learned about this deal in 1872. These companies raised an outcry and ultimately led the railroad companies to promise to treat all shippers equally. After becoming extremely successful with his Standard Oil Company, he never forgot to give back. He would donate ten percent of his earnings to charities of all causes. He lived a very wealthy, yet humble, life. Rockefeller died on May 23, 1937 due to arteriosclerosis in Ormond Beach, Florida.
John D. Rockefeller found any and many ways to become successful. He integrated many methods that helped the oil industry be what it is today. Rockefeller designed the first monopoly in the United States. Even after his success and being considered to be the wealthiest American of all time by essentially every source, his tradition of giving led on, never forgetting where he came
Many average people went into the oil industry. That included bakers, butchers, and even candlestick makers. It was such a concentrated industry, that eventually prices went down. However, there was a consequence to the falling of the prices. The …show more content…
Rockefeller was born in 1839 in upper New York State. He was a devout Baptist and kept himself busy with charitable endeavors. He was educated in Cleveland, Ohio and eventually married his wife, Laura Spelman Rockefeller. Together, they had two kids, John D. Rockefeller Jr., and Edith Rockefeller. The oil refining business first drew his attention after he became a partner in a grain and livestock business in 1859 and earned a large profit during the Civil War period. He created South Improvement Company. SIC was a plan that would have ensured each railroad a stable share of the shipping by the Rockefeller cartel. Other refining companies, however, learned about this deal in 1872. These companies raised an outcry and ultimately led the railroad companies to promise to treat all shippers equally. After becoming extremely successful with his Standard Oil Company, he never forgot to give back. He would donate ten percent of his earnings to charities of all causes. He lived a very wealthy, yet humble, life. Rockefeller died on May 23, 1937 due to arteriosclerosis in Ormond Beach, Florida.
John D. Rockefeller found any and many ways to become successful. He integrated many methods that helped the oil industry be what it is today. Rockefeller designed the first monopoly in the United States. Even after his success and being considered to be the wealthiest American of all time by essentially every source, his tradition of giving led on, never forgetting where he came