John D. Rockefeller’s profile picture

John D. Rockefeller

Businessman
John D. Rockefeller’s profile picture
Net worth 2018: $336 Billion
Industry: Business People
Residence: Richford, New York, U.S.
Country: United States
BirthDay: 8 July 1839
Sigh: Leo
Died On: May 23, 1937
Education: Chancellor University
BIOGRAPHY

John D. Rockefeller was bornon 8 July 1839 in Richford, New York, U.S., American, is Businessman. John Davison Rockefeller Sr. was a renowned American industrialist and philanthropist. Born in a modest family, he worked his way up to become one of the wealthiest persons in modern history. He began his career as an assistant bookkeeper at the age of 16 and by 20, he had ventured into his own business with partner Maurice B. Clark. Recognising the potential of the commercial oil business, the partners invested in a refinery at Cleveland, Ohio in 1863. In 1870, he established the Standard Oil Company, which within a decade almost monopolized and controlled 90% of U.S. refineries and pipelines.The demand for kerosene and gasoline constantly increased among the masses and he became the richest person in the country. He had his fair share of criticism as well. He was accused of engaging in unethical business practices such as acquiring pipelines and forest areas to prevent his competitors from excelling. In 1911, the U.S. Supreme Court found Standard Oil in violation of the Sherman Antitrust Act and ordered it to dissolve. After his retirement, he became an active philanthropist and donated generously to the church, educational institutions, public health causes, and medical researches. During his lifetime, he donated more than $500 million to various charitable causes.

NET WORTH STATISTIC
2018

$336 Billion

TIMELINE
1937

He died on 23 May 1937 of arteriosclerosis at his home in Ormond Beach, Florida

1909

In 1909, New Jersey allowed the trust to be re-created in the form of a single holding company

1895

In 1895 at the age of 56, he took retirement from the daily operations of the business

1890

The Sherman Antitrust Act of 1890 and the verdict of Ohio Supreme Court in 1892 resulted in the dissolution of the trust

1882

In 1882, the Standard Oil Trust was established to consolidate the various holdings of the company

1872

He continued buying rival refiners; by 1872, Standard Oil had taken over 22 of its 26 Cleveland opponents

1870

In January 1870, John Rockefeller dissolved the partnership of Rockefeller, Andrews & Flagler, and formed the Standard Oil of Ohio

1868

By 1868, the company owned two Cleveland refineries and a marketing subsidiary in New York

1865

In February 1865, he bought out the Clark brothers at an auction for $72,500 and established the firm Rockefeller & Andrews

1864

In 1864, he married Laura Celestia Spelman (1839–1915), daughter of Harvey Buell Spelman and Lucy Henry

1863

In 1863, the partners invested in an oil refinery near Cleveland, Ohio, directly owned by Andrews, Clark & Company (composed of Clark, Rockefeller, chemist Samuel Andrews, and Clark's two brothers)

1859

In 1859, at the age of 20, he ventured into private business with a partner, Maurice B

1853

In 1853, the family moved to Strongsville where he attended Cleveland's Central High School

1851

In 1851, the family moved to Owego where he attended the Owego Academy

1839

Rockefeller was born on 8 July 1839, in Richford, New York, to William Avery Rockefeller and Eliza Davison

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