Biography of John Davis Rockefeller, oil business magnate
John Davis RockefellerA summary of John Davis Rockefeller's biography:
Full name: John Davison Rockefeller
Date of birth: July 8, 1839
Place of birth: Richford, New York
Known for: American financier
Net worth: 537 billion dollars
Died: May 23, 1937
Burial: Lakeview Cemetery, Cleveland, Ohio
Biography of John Davis RockefellerBiography of John Davis Rockefeller:
John Davis Rockefeller was born on July 8, 1839 in Richford, New York. Rockefeller was the second of six children of William Avery Rockefeller and Eliza Davison. He was considered the eldest child in his family and was expected to help his parents in the agricultural work along with his other siblings. The Rockefeller family moved to Ohio when John was 14 years old. In 1855, when John was only 16 years old, he began working as a paddy and assistant bookkeeper for Hoyt and Tuttle.
In them, for many years, he did not have a fixed salary and only received money in the form of commissions, which caused him to have no money as wages for 14 weeks, but after that, the amount of 50 dollars and the salary of 25 dollars per month were determined for him. . John Rockefeller stayed with the company for three years until his request for $800 a month was rejected.
About the life of John Davis RockefellerThe beginning of John Davis Rockefeller:
In this period of three years, Rockefeller learned how to run a business and finally decided to leave the company and start his own business. Morris Clark started as John Rockefeller's partner with him, they took out a thousand dollar loan at 10% interest and started a manufacturing business.
John Rockefeller would visit all the local farmers and after chatting with them for a while, he would charm them all, then present them with his business card. Farmers treated John so well that he was able to earn 500 thousand dollars in the first years of his work, i.e. in 1895. At that time, oil was just starting to make an impact in Ohio, and several refineries had been built.
Rockefeller had a special feeling about the potential power of this fuel, as a result, he did not waste time and in 1862 started to establish a company in the field of active oil refineries. The company was run by Rockefeller, Andrews and Clark.
After some time, he sold his share of the oil company to Clark, and then bought Clark's share in favor of Andrews, as a result, the company went ahead with the shares of Rockefeller and Andrews.
Rockefeller, together with his partners, was able to establish one of the largest oil companies in the history of the United States, so that in the late 19th century, Standard Oil was able to cover most of the music of the United States and also had a lot of control over the railroads. applied
For many years, critics complained sharply about Rockefeller's management strategy and methods and attacked his personality. In the meantime, the criticisms of some people were very constructive and timely, but some spoke completely baseless and exaggerated.
Rockefeller believed that people should listen to harsh criticisms and use positive points in this path to take a step in great paths.
John Davis Rockefeller, founder of Standard OilMerger of Standard Oil Company:
In 1869, Rockefeller decided to combine his company with the Standard Oil Company of Ohio with a capital of 1 million dollars and take over the presidency of the new company. This action was so successful that it became an indicator and integration strategy in G. P. Morgan and became a symbol in the steel and metals industry.
Rockefeller believed that the best way to ensure survival is to distribute such risk in an unstable and risky industry, and the best way to achieve this goal is to buy competing companies outside or inside the United States. By 1872, Standard Oil had managed to purchase all the refining companies in Ohio. After several prosperous decades, in 1882, all businesses belonging to Standard Oil were placed under the control of the Standard Oil Trust.
Standard Oil Trust's superiority over others caused widespread criticism, so that the 1892 Ohio Attorney General's ruling was able to dissolve Standard Oil Trust. The court related to this issue was established in 1890 and caused a lot of stress to Rockefeller, so that all his hair even fell out of his eyebrows and he also suffered from nervous tremors, the effects of the court's decision on Standard Oil were no less. However, the company changed its structure very quickly and this time resumed its activities under the name of Standard Oil Company of New Jersey. The company was also able to control three-quarters of the oil industry in the United States.
Rockefeller continued to serve as president of the company until 1911, the same year that the United States Supreme Court ordered the company dissolved, declaring that Standard Oil had violated antitrust laws, which caused the oil giant to 83 Divide the constituent parts into smaller ones.
Rockefeller experienced the most severe criticism during this period, it is said that his diet was reduced to a little milk and bread. Some critics continued their work to destroy them from morning till late at night. This was an issue that Rockefeller always denied and believed that it was not his whole life's work.
John Davis Rockefeller; Prominent American capitalistThe last years of John Davis Rockefeller's life:
In the last four years of his life, John Rockefeller chose retirement and tried to participate in humanitarian work. He provided $35 million to the University of Chicago to establish the Rockefeller Institute of Medical Research, the Rockefeller Foundation, and the Rockefeller Sanitary Commission to eradicate hookworm and yellow fever from the American South.
In America, many places are named after him, such as Rockefeller University and Rockefeller Center.
Humanitarian actions:
John Rockefeller had become a philanthropist in the last years of his life. He allocated huge sums for scientific and humanitarian purposes. In 1913, he founded the Rockefeller Foundation, which focused on improving public health and promoting scientific research. The foundation also supported education and the arts and helped establish the Johns Hopkins School of Public Health and the University of Chicago.
Rockefeller also established the Public Education Board, which funded public schools and colleges throughout the United States. This board was instrumental in the development of the American public education system and helped establish the first public high schools in the country.
Philanthropic actions of John Davis RockefellerLegacy of John Davis Rockefeller:
John D. Rockefeller's legacy is complex. He was a brilliant businessman who helped revolutionize the oil industry and played an important role in the development of the modern American economy. However, his business practices were often ruthless and he was criticized for his monopolistic tendencies.
On the other hand, Rockefeller's philanthropic efforts pioneered and played a significant role in the development of public health, education, and scientific research in the United States. During his lifetime, he donated more than 500 million dollars, which is equivalent to billions of dollars today.
compilation: Cover biographical section
