The Story of an Oil Tycoon: What You Need to Know About John D. Rockefeller

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The Rockefeller family, one of the richest families in the world, has been at the center of conspiracy theories for decades. The family’s wealth is mainly based on the oil industry. However, they are also very active in areas such as politics and banking. John D. Rockefeller, the family’s member who founded the oil kingdom, is a revolutionary figure in the world oil industry. Therefore, since early on, the Rockefeller family has become a target for both the media and its competitors. So far there has been a lot of speculation about the family. So much so that the Rockefeller family’ There are even those who claim to want to bring a new order to the world through the Illuminati and other secret organizations. So what do you know about John D. Rockefeller, who got the Rockefeller family back to where it is today? Let’s look at the details together.

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John D. Rockefeller was born in New York in 1839

Born into an impoverished farming family, Rockefeller helped his mother grow potatoes and corn in her youth. When his parents were struggling to make a living, he dropped out of high school and started working when he was 16. John D. Rockefeller started his first job as an accountant’s apprentice. John, known from an early age as a data visionary, noticed the mystery of oil in his 20s. In 1863, he invested in the Cleveland, Ohio refinery and entered the oil business, which was still in its infancy at the time. The following year, his father married Laura Celestia, a well-known merchant. The two are said to be in a good way. He had five children, John D. Rockefeller, Jr., Edith Rockefeller McCormick, Elizabeth Rockefeller Strong, Alta Rockefeller Prentice and Alice Rockefeller, who died at 13 months old.

The Story of an Oil Tycoon: What You Need to Know About John D. Rockefeller 1

John D. Rockefeller founded the Ohio Standard Oil Company in 1870 with his younger brother William and Henry Flagler

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John Rockefeller was the company’s president and largest shareholder. In a short time, it gained a monopoly in the oil industry by purchasing rival refineries and marketing oil worldwide. In the 1880s, Standard Oil controlled about 90% of refineries and pipelines in the United States. Standard Oil has been working with many scientists to find new uses for oil. At the same time, all the necessary products up to oil barrels were made at Standard Oil.

The rapid rise of Rockefeller began to disturb many in the early years of the 20th century. The company has become a target especially for the media and reformist politicians

Rockefeller’s opponents accused him of profiting unfairly by collating. In the New York Times, the Rockefeller family was indicted on numerous charges including corruption, bribery and espionage.

In 1890, the U.S. Congress passed the Sherman Antitrust Act. This law was aimed at regulating competition between enterprises and preventing monopoly

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In 1911, the U.S. Supreme Court ruled that Standard Oil should terminate the company for violating antitrust laws. However, businesses within the company soon became part of Standard Oil of New Jersey, which functioned as a conglomerate.

Rockefeller retired from Standard Oil’s day-to-day operations in 1895. Donated more than half a billion dollars to various educational institutions during his retirement

The Rockefeller Foundation later established Rockefeller University. John D. Rockefeller devoted himself to philanthropy until his death in 1937. After he passed away, his children continued to add wealth to the family’s fortune. The family is now revered across the country for helping America prosper.

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