This website uses cookies to ensure you have the best experience. Learn more

John Rockefeller: American Business Mogul Essay

1192 words - 5 pages

John Davison Rockefeller was born on July 8th, 1839 in Richford, New York. He was the second born of six children in the family. His father, William Avery Rockefeller, was an entrepreneur of his own. He claimed to have the ability to cure patients with cancer and charged up to $25 per treatment. His mother was a very religious and well-organized woman. Growing up Rockefeller started his entrepreneurship career early by selling candy and doing jobs for his neighbors. Little did anyone know this young man would go on to be arguably the richest man ever.
In 1851 his family moved to Owego, where he attended Owego Academy. In 1853, they moved again to Cleveland, Ohio. Even without his father around, Rockefeller remained very determined and well organized. When he was just 16, Rockefeller began work as an office clerk for a firm specializing in grain and coal. Just four years later, as a 20 year old, Rockefeller wasn’t happy with his wages and established his own commission firm. In 1863, Rockefeller and his partners invested in a Cleveland oil refinery. This was the beginning of a dominant oil career for the young Rockefeller.
In 1864, Rockefeller married a woman by the name of Laura Spelman. She was born and raised in Ohio. Her father was an abolitionist and especially active in the Underground Railroad. Together they had four daughters and one son.
In 1865, the early stages of the Standard Oil Company began to unfold. Rockefeller bought out some of the partners he had previously partnered with so he could control the oil refinery. By this time their oil refinery had grown to be one of the biggest in the Cleveland area. In 1870, Rockefeller officially formed the Standard Oil Company with a few partners. However, Rockefeller was the president and majority owner.
Standard Oil began buying out other refineries en route to their monopolization of the American oil industry. Eventually, the massive group of companies became known as simply, the Standard Oil Trust. At this point, Standard Oil was over 90% of all oil companies in the nation. In the prime of his business, he began experiencing depression and later found he had alopecia. This disease caused him to lose all of his body hair, because of this he began to wear wigs. Local doctors suggested that he not work so much. As successful as Rockefeller and his oil business were, success almost always brings envy and hate.
During this time period muckrakers were very popular. Rockefeller and his oil company was a huge target for these journalists. They loved to write about his disgusting corporate greed and disagreed with how he ran his company. These muckrakers believed that it was unjust how Rockefeller expanded. To attempt to counter this, the United Stated Congress passed the Sherman Antitrust Act. This act prohibited trusts, such as Rockefeller’s Standard Oil business. Within just two years Standard Oil was separated into more than 30 smaller companies.
After the...

Find Another Essay On John Rockefeller: American Business Mogul

John D. Rockefeller Essay

1332 words - 5 pages very poor family. His father was William Avery Rockefeller. He claimed to be a doctor, who for $25 would cure various diseases. His mother was Eliza Davison Rockefeller. She was the role model who taught Rockefeller his values and morals (Poole). John Rockefeller was the second child. Altogether he had five brothers and sisters (Outman 139). As a child he was very business smart. At the young age of 12 he loaned $50 to a famer. He charged a 7

Captains of Industry Essay

1010 words - 5 pages steel industry. These recently introduced concepts and their repercussions are indebted to the businessmen who sought to manipulate and dominate the industry. Despite beginnings in poverty, determination and innovation led Andrew Carnegie and John D. Rockefeller to become not only captains of industry in their own time, but also legacies of American success. Though very different in personality, Rockefeller and Carnegie were raised under similar

Robber Baron Vs. Captain of Industry

1529 words - 6 pages Robber BaronVs.Captain of Industry?John D. Rockefeller was the guiding force behind the creation of the Standard Oil Company, which grew to dominate the oil industry. This company was one of the first big trusts in the United States, thus much controversy and opposition arose regarding business strategies and its organization. John D. Rockefeller was also one of the United States first major philanthropists, establishing numerous important

The Image of Corporate America

1007 words - 5 pages John D. Rockefeller glared across the conference room table. Maurice Clark, Rockefeller’s partner, confronted him about the expansion of their oil refinery. Clark demanded Rockefeller’s focus on increasing profits at the Cleveland refinery, but Rockefeller wanted to seize an opportunity to enhance the size of their company and raise profits. With their partnership hanging in a balance, the two decided to auction the refinery amongst them. Clark

Rockefeller

1878 words - 8 pages John Davison Rockefeller was born on July 8th, 1839 in Richford, New York. He was the second of six children to William Avery and Eliza Davison Rockefeller. From the start, his mother raised him in religion. Eliza was a devout baptist and she taught him to work and save, and what he did save, to give to charities (“Entrepreneurs and American Economic Growth”). On the other hand, his father was not such a good role model. William, or “Wild Bill

The Rockefeller Family

798 words - 4 pages Did you know that the Rockefeller family was so wealthy that they were able to continue and finance the construction of the 14 buildings in Rockefeller Center completely on their own? Rockefeller Center is a very important piece of American History not because of its sponsoring family but the opportunities it gave to all. Rockefeller Center became a landmark for its importance in the number of jobs it created during the great depression and the

Rockefeller

1688 words - 7 pages Company efficient and did it hurt the social wealth of the country? The government's enforcement of the Sherman Antitrust Act on Standard Oil hurt the country's social wealth and efficiency. John D. Rockefeller was the founder and owner of Standard Oil. Considered by many to be the first great businessman in the United States, he was extremely industrious and methodical. He could not stand to waste anything. He had begun working in business

Rich Families of Long Island Sound in the 1920's

755 words - 4 pages . Works Cited "Rockefeller, John D." The Grolier Library of North American Biographies. Danbury, CT: Grolier Educational, 1994. 181-82. Print. "Moments in Time: 1920 – 1929." : The Rockefeller Foundation. N.p., n.d. Web. 11 Feb. 2014 "Andrew Carnegie." Columbia Electronic Encyclopedia, 6Th Edition (2013): 1. MAS Ultra - School Edition. Web. 29 Jan. 2014.

Entrepreneurs in American History

705 words - 3 pages Carnegie, John D. Rockefeller integrated his oil business from top to bottom; his distinctive innovation in movement of American industry was horizontal. This meant he followed one product through all its stages. For example, Rockefeller controlled the oil when it was drilled, through the refining stage, and he maintained control over the refining process turning it into gasoline. Although these two powerful men used two different methods of

The Robber Barons- John Rockefeller: Historian Matthew Josephson's thesis

523 words - 2 pages It is historian Matthew Josephson's thesis that John Rockefeller was a 'Robber Baron,' an exploiter of capitalism who crushed the smaller capitalists, who brought hardships to many, but from a socialist's point of view, praised for doing so.Although his immoral methods of monopolization were quite atrocious, which was why he was dubbed a 'Robber Baron,' he was still far ahead of his time and competition and was in control of the majority of the

How Entrepreneurs Help America’s Economy

1825 words - 7 pages industries, that’s not fair because these entrepreneurs, like John D. Rockefeller, have worked extremely hard for their enormous success (John D. Rockefeller Biography). John D. Rockefeller’s company, Standard Oil, grew rapidly, quickly controlling the oil industry. Throughout this time Rockefeller started to buy railroads, refineries, pipelines, and oil storage tanks (Poole). His hard work paid off and made his business boom. With Standard Oil

Similar Essays

John D. Rockefeller A Business Man In The Oil Industry And An Industrialist

932 words - 4 pages . Rockefeller. Rockefeller dominated oil industry, which was a budding industry in the 1860s. He founded Standard Oil, which quickly monopolized the entire petroleum industry. Although vilified by many during his time, Rockefeller, along with other “Captains of Industry”, revolutionized the United States, from business to even philanthropy. Rockefeller was born in New York in 1839. In 1853, he and his family moved to Cleveland where he would attend

Andrew Carnegie And John D. Rockefeller

629 words - 3 pages Andrew Carnegie and John D. Rockefeller; Captains of industry, or robber barons?            True, Andrew Carnegie and John D Rockefeller may have been the most influential businessmen of the 19th century, but was the way they conducted business proper? To fully answer this question, we must look at the following: First understand how Andrew Carnegie and John D. Rockefeller changed the market of their industries. Second, look at the

The Life Of Nelson Rockefeller Essay

1128 words - 5 pages As vice president of the United States of American Nelson Rockefeller was a smart business man and always dreamed about becoming president as a kid. He had a good life growing up with a great family. Rockefeller had an impressive career in public service and is a leader in many ways. He had to overcome a lot of obstacles before becoming the vice president, but still strived to accomplish many things. I am going to tell you about Nelson

Corporate Development During The Industrial Revolution In The Us

598 words - 2 pages middle man. Carnegie bought his own iron and coal mines because using independent companies cost too much and were inefficient. By doing this he was able to undersell his competetors because they had to pay the competitors they went through to get the raw materials. Unlike Andrew Carnegie, John D. Rockefeller integrated his oil business from top to bottom, his distinctive innovation in movement of American industry was horizontal. This meant he