Friday, February 4, 2011

John D. Rockefeller

In 1865 Rockefeller went into business with a very established oil man, but instead of drilling for oil he would rather refine it. His business would grow and they would actually start to make their own oil barrels. He made oil cheaper then it ever was, and in 1870 Rockefeller was a millionaire. His best importer was the railroad company. By 1880's standard oil was the biggest oil company in America. Rockefeller would usually buy out the competers and would offer the choice of money or stock in Standard Oil, which would create many of millionaires. He was a philanthropist, he developed a school only for black women in Atlanta, named Spellman College. People thought his charitable way was to atone for his sins well he was in Standard Oil. Rockefellers name was synamous with pure evil and was the most hated man in America and maybe the World. They broke up standard oil and 34 new companys were made but Rockefeller had shares in all of them. Soon the Rockefeller name became a symbol of value and something for the rich. In John Sr. last years of life he handed his business to his son John D. Rockefeller Jr., Sr. made sure his son was well accounted for and made him keep a ledger, and was so frugle that he managed Brown University's football team. Junior was given all of the Rockefeller business in 1910. John Sr died at the age og 97 in 1937 signaling an end of an era.

Summary: John Rockefeller was America's first millionaire and has set the gold standard for businessmen/woman around the world. He gave back as much as he could and in the end did the best thing for him and his family. His son was the more philanthropic one, and eventually gave the area for the UN building, bout and sold Yellowstone national park along with Yosemite national park.

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