John Rockefeller was born on July 8th 1839 from his Mother Eliza Davison and father William Rockefeller Sr. He is well known for his oil company (Standard Oil). In 1864 John married Laura Spelman they had four children three as of which were girls one boy. In 1863 he built his first oil refinery in Cleveland. The government was changing oil prices and raising them up from $0.35 to around $13.75 a barrel in 1962 as oil was used for lots of different things like Kerosene lamps and fuel. This create a large oil drilling outbreak with thousands of people trying to make millions. Many failed but the ones who found oil didn’t have to be efficient as they would make holes in the ground and gather up all the oil they could. Often the holes leaded
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The business become so large that Rockefeller only dealt with the major problems. On May 15, 1911, the Supreme Court ordered the dissolution of Standard Oil Company, ruling it was breaking the Sherman Antitrust Act. (The following is stated by http://www.u-s-history.com/pages/h760.html "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court.") In 1892 Rockefeller had a nervous breakdown of overworking and lost all of his hair including his eyebrows. He suffered from illnesses for several of years. During this time Rockefeller's wealth had increased to such an extent that he didn’t know what to do with it. He solved this problem by hiring a manger. He ended up donating a lot of his earnings to charities. Rockefeller died on May 23 1937, he estate totaled only 6,410,837. He had given most of his property to his partners and to his
The business become so large that Rockefeller only dealt with the major problems. On May 15, 1911, the Supreme Court ordered the dissolution of Standard Oil Company, ruling it was breaking the Sherman Antitrust Act. (The following is stated by http://www.u-s-history.com/pages/h760.html "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court.") In 1892 Rockefeller had a nervous breakdown of overworking and lost all of his hair including his eyebrows. He suffered from illnesses for several of years. During this time Rockefeller's wealth had increased to such an extent that he didn’t know what to do with it. He solved this problem by hiring a manger. He ended up donating a lot of his earnings to charities. Rockefeller died on May 23 1937, he estate totaled only 6,410,837. He had given most of his property to his partners and to his