John D Rockefeller Essay

Known as Americans first millionaire, John D. Rockefeller owned over 95 percent of the oil industry once in the United States (“Standard Oil Company”). The richest man alive was not only an influence in new business ways, but was also a charitable philanthropist. John D. Rockefeller was the most significant figure in the early stages of the oil industry and his monopoly played the most important part in shaping the future of American business.

Rockefeller was born July 8, 1839 in Richford New York, however his family soon moved to Cleveland Ohio, where he would grow up to be the most important American industrialist in the United States. The young Rockefeller was always interested in business. His mother taught him good values while his father taught him how to draw up contracts and other business documents (“Biography”). He was constantly doing odd jobs for his neighbors and mother for money. In 1855 he sent ten weeks at a local commercial college learning the ways of business. Rockefeller got his first job when he was only 16 as a bookkeeper at a local commission merchants and produce shippers company. Gaining experience within the industry, Rockefeller and his colleague started their own business.

The Clark and Rockefeller dealing with trade with food and miscellaneous products. Although their new company was very successful due to Rockefeller’s good judgment in his decision making and planning, the oil frenzy in American intrigued him. Rockefeller and associates went into the oil industry in 1863 as Standard Oil Company. By 1870, Rockefeller was owner of the largest oil refinery in Cleveland Ohio. When Standard Oil was just starting out, Rockefeller took the initiative to make a deal with the railroad compani...

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... Oil Company split up into over thirty individual companies.

Rockefeller once reflected back on introducing new ideas into business, “Opposition was to be expected as the methods of economizing in every step brought about an economic revolution, accompanied, as such great movements always are, by more or less antagonism from those who continued to prefer the old and obsolete methods” (“Standard Oil Men”). Rockefellers use of revolutionary ideas helped to improve American industrialism.

Rockefeller had always been a philanthropist, even at a young age. He gave over 500 million dollars to the Baptist church, education, and medical research.

Rockefeller single handily built the oil industry in the United States and was the most influential man in the history of American business. Throughout his entire life, Rockefeller was always in the business world.