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.
He had an elder sister named Lucy and four younger siblings; William Jr. His father was of English and German descent, while his mother was of Scots-Irish descent.
Bill was first a lumberman and then a traveling salesman who identified himself as a "botanic physician" who sold elixirs. The locals referred to the mysterious but fun-loving man as "Big Bill" and "Devil Bill. Throughout his life, Bill was notorious for shady schemes.
Between John and William Jr. She also put up with his philandering and his double life, which included bigamy. He followed his father's advice to "trade dishes for platters" and always get the better part of any deal.
Bill once bragged, "I cheat my boys every chance I get. I want to make 'em sharp. Inhis family moved to Strongsville, Ohio and he attended Cleveland's Central High School, the first high school in Cleveland and the first free, public high school west of the Alleghenies.
Then he took a ten-week business course at Folsom's Commercial Collegewhere he studied bookkeeping. His contemporaries described him as reserved, earnest, religious, methodical, and discreet. He was an excellent debater and expressed himself precisely. He also had a deep love of music and dreamed of it as a possible career.
Much of Rockefeller's duties involved negotiating with barge canal owners, ship captains, and freight agents. In these negotiations, he learned that posted transportation rates that were believed to be fixed could be altered depending on conditions and timing of freight and through the use of rebates to preferred shippers.
Rockefeller was also given the duties of collecting debts when Hewitt instructed him to do so. Instead of using his father's method of presence to collect debts, Rockefeller relied on a persistent pestering approach.
He gave money to the Union cause, as did many rich Northerners who avoided combat. Rockefeller was an abolitionist who voted for President Abraham Lincoln and supported the then-new Republican Party. He felt at ease and righteous following Methodist preacher John Wesley 's dictum, "gain all you can, save all you can, and give all you can.
Most failed, but those who struck oil did not even need to be efficient. They would blow holes in the ground and gather up the oil as they could, often leading to creeks and rivers flowing with wasted oil in the place of water.
Coal had previously been used to extract kerosene, but its tedious extraction process and high price prevented broad use. Even with the high costs of freight transportation and a government levy during the Civil War the government levied a tax of twenty cents a gallon on refined oilprofits on the refined product were large.
The commercial oil business was then in its infancy. Whale oil had become too expensive for the masses, and a cheaper, general-purpose lighting fuel was needed. Tar was used for paving, naphtha shipped to gas plants.
Rockefeller said, "It was the day that determined my career.
He borrowed heavily, reinvested profits, adapted rapidly to changing markets, and fielded observers to track the quickly expanding industry. InHenry M. Bywith Rockefeller continuing practices of borrowing and reinvesting profits, controlling costs, and using refineries' waste, the company owned two Cleveland refineries and a marketing subsidiary in New York ; it was the largest oil refinery in the world.
Standard Oil Founding and early growth John D. By there was triple the kerosene refining capacity than needed to supply the market, and the capacity remained in excess for many years. Continuing to apply his work ethic and efficiency, Rockefeller quickly expanded the company to be the most profitable refiner in Ohio.
Likewise, it became one of the largest shippers of oil and kerosene in the country. The railroads competed fiercely for traffic and, in an attempt to create a cartel to control freight rates, formed the South Improvement Company offering special deals to bulk customers like Standard Oil, outside the main oil centers.In the current age, with the Rockefeller name now more likely to be associated with Rockefeller Plaza or Rockefeller University than Standard Oil, it is difficult to understand just how hated John D.
. Nov 07, · John Davison Rockefeller (July 8, -- May 23, ) was an American oil magnate. Rockefeller revolutionized the petroleum industry and defined the . John D.
Rockefeller was the richest man in America in his time and one of the first major tycoons. He founded the Standard Oil Company, a monopoly that was eventually dissolved. John D. Rockefeller was the head of the Standard Oil Company and one of the world's richest men.
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,   and the richest person in modern timberdesignmag.comcal party: Republican. 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 .
Business Magnate. 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.