Thursday, October 18, 2012

John D. Rockefeller

     John D. Rockefeller was one of the wealthiest people to ever live, but he did not start out that way. Rockefeller was born the second of 6 children in Richford, New York. He moved to Strongsville, Ohio in 1853, and eventually left high school to pursue business training. His first job, an assistant book keeper, paid less than 4 dollars per week. In 1859, he was introduced to the oil industry when oil was discovered in Titusville, Pennsylvania, and he created a refining business 4 years later.
     Rockefeller formed Standard Oil with William (his brother), Henry M. Flagler, and Samuel Andrews (invented a method of refining oil cheaply). Standard Oil was known for being very cutthroat, using a few harsh methods of fueling his business like Monopolization, cutting rates, and intimidation. Rockefeller even had employees to rob and vandalize his competition! Soon, because of these tactics, Standard Oil refined 90% of the nations oil. This is how Rockefeller gained his fortune.
     After Rockefeller retired,  he became a philanthropist, donating money to many different organizations like the Rockefeller Institute for Medical Research and the General Education Board. Being a deeply religious Baptist, he founded the University of Chicago because he wanted people to be able to get a fantastic Baptist education. Rockefeller was the first American to make one billion dollars, and with all that money, he still abstained from alcohol and tobacco his entire life. John D. Rockefeller was an incredible man. He started out making 4 dollars a week and wound up being worth (possibly) over 600 Billion dollars in today's market. He used some of his money for the good of society, and he remained healthy for most of his life. Rockefeller is definitely someone I admire.