The life of the man behind the standard oil company john davison rockefeller

Best known as the patriarch of the socially prominent Rockefeller family of New York, the founder of the Standard Oil Company and founder of the Rockefeller Foundation. She taught John D. August of at the age of 16, he got a job as an assistant bookkeeper for a commission merchant. In he went into the produce commission business.

The life of the man behind the standard oil company john davison rockefeller

Inhis family moved to a farm in Strongsville, Ohionear Cleveland. He pursued a public educationbut left high school to take business training. InRockefeller found his first job, working as an assistant bookkeeper for less than four dollars a week. He showed a talent for detail and a strong work ethic from the beginning.

In that same year, oil was discovered in not-too-distant Titusville, Pennsylvaniatouching off the growth of a new industry driven largely by the demand for kerosene for lighting. Rockefeller was immediately attracted to the oil business, but was repelled by the disorder of the wildcatters.

He finally made his bid inby creating a refining business with Maurice B. Clark and other partners. Cleveland, with its Great Lakes access, rail service and supply of immigrant labor, emerged early as a refining center. InRockefeller teamed with his brother William, Henry M.

Flagler, and Samuel Andrews inventor of an inexpensive means of refining crude oil to establish the Standard Oil Company.

Standard Oil and its subsidiaries quickly managed to consolidate the refining business in the Cleveland area and then began to extend their control into PittsburghPhiladelphia and New York City. Beginning in the s, Standard Oil employed a number of cutthroat business practices, including: Inthe Standard Oil Trust was formed, first of the great corporate trusts.

However, 10 years later an Ohio Supreme Court decision forced dissolution, resulting in the creation of 20 smaller businesses. The largest segment was reorganized in as a holding company under the name of the Standard Oil Company of New Jerseybut was dissolved following a U.

Supreme Court decision in Rockefeller retired at this point. Rockefeller had followed other business interests besides oil, especially toward the end of his tenure. He dabbled in banks, railroads, timber, iron fields, and was a director of U. To many observers, Rockefeller appeared to be a man of glaring contradictions.

He eagerly crushed his competitors, ruining hundreds in his pursuit of profit. Yet he was a deeply religious man; he became a Baptist, was active in church affairs for many years and was a generous financial supporter throughout.

Rockefeller reduced his workload at Standard Oil in the s to direct some of his energies toward philanthropy; after his retirement, he devoted his remaining 26 years to that endeavor.

Major Rockefeller charitable ventures included: Rockefeller Institute for Medical Research.

The life of the man behind the standard oil company john davison rockefeller

InRockefeller created an organization to study the cause and prevention of disease. The Institute later became Rockefeller University. Created inthe GEB supported a wide variety of educational improvements, concentrating attention on medical schools and the improvement of public education in the South.

Established in to address the problem of hookworm disease, the Commission mounted massive educational campaigns in the South. Later, efforts were launched overseas before the organization was closed in Given the broad charge "to promote the well-being of mankind throughout the world," the Foundation provided funding for public health, medical schools, famine prevention, the social sciences, the arts and many other endeavors.

Rockefeller instituted the challenge grant approach to establish what was initially a Baptist institution of higher learning. He offered to make a large donation if a similar amount could be raised from other sources within a certain time frame; he favored this approach because it demonstrated a base of support for a project and he would turn to this form of philanthropy many times over the years.

The Ultimate Oil Man. Regarding Competition The American Beauty Rose can be produced in the splendor and fragrance which bring cheer to its beholder only by sacrificing the early buds which grow up around it.

This is not an evil tendency in business. It is merely the working-out of a law of nature and a law of God. Address to Brown University students, Regarding Making Money I believe the power to make money is a gift of God … to be developed and used to the best of our ability for the good of mankind.

Having been endowed with the gift I possess, I believe it is my duty to make money and still more money and to use the money I make for the good of my fellow man according to the dictates of my conscience.

Interview with William Hoster By Will Rogers Sure must be a great consolation to the poor people who lost their stock in the late crash to know that it has fallen in the hands of Mr.

Rockefeller, who will take care of it and see it has a good home and never be allowed to wander around unprotected again. There is one rule that works in every calamity. Be it pestilence, war, or famine, the rich get richer and poor get poorer.Business Magnate.

John D. Rockefeller - Wikipedia

Best known as the patriarch of the socially prominent Rockefeller family of New York, the founder of the Standard Oil Company and founder of the Rockefeller Foundation.

He was born John Davison Rockefeller on July 8, in Richford, New York, the son of William Avery Rockefeller, a traveling quack. Rockefeller even had Standard Oil men communicate in code. The company was nicknamed “Club”; John D.

Rockefeller was referred to as “Chowder.” He was so secretive and ruthless that few people knew what he sounded like. Mar 30,  · Born the son of a flamboyant, bigamous snake-oil salesman and a pious, straitlaced mother, Rockefeller rose from rustic origins to become the world's richest man by creating America's most powerful and feared monopoly, Standard Oil/5().

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, [4] [5] and the richest person in modern initiativeblog.comves: Rockefeller family. The Biggest Oil: John D. Rockefeller’s Life Story. He wanted to run his own operation and so he started Standard Oil Company, a corporation.

He issued shares to his partners, but established himself as chairman. Indeed, John Rockefeller was a man that most historians are forced to puzzle over. While he was a brilliant magnate and a.

The life of the man behind the standard oil company john davison rockefeller

Standard Oil Company in , and with his smart business moves, the company Throughout all of Rockefeller's life, he had felt that he was predestined by God to .

Episode – How Big Oil Conquered The World : The Corbett Report