To describe John D. Rockefeller in one word would be an extremely difficult, if not impossible thing to do. Rockefeller was known by so many things in his time and still today; a captain of industry who revolutionised the American economy with new business practices and keen management of what he controlled, a robber baron who lied and cheated his way to the top with back room dealings and taking advantage of the most disadvantaged of people. In his early life, Rockefeller grew up in Richmond, New York with his two brothers and two sisters about 20 years before the start of the Civil War as the child of Eliza Davison and William Avery Rockefeller. His father was con artist who spent most of John’s life traveling selling his various elixirs and his mother was a devout Baptist who John said shaped his life and most of his religious views for the rest of his life. Towards the end of his life, Rockefeller had built up a beyond substantial fortune but, seeing as how he was now retired from the oil industry and had no desire to invest into a new business, he decided to follow Andrew Carnegie's Gospel of Wealth by donating the bulk of his wealth to charity. John D. Rockefeller was truly a man who was almost undefinable despite the simple black and white labels that most people and historians have pinned upon him, as we examine his life it can be determined that Rockefeller was neither an evil man nor a good one but someone who lived his life in the grey.
To begin the look at Rockefeller’s life, let’s look back to his birth. John D. Rockefeller was born on July 8th, 1839 to Eliza and William Avery Rockefeller in Richmond, New York and was the eldest of his other 4 siblings; Lucy, William Jr., Mary and Franklin. John’s parents could easi...
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...mpanies, it eventually came to the point where they couldn’t keep up and eventually became a part of Standard Oil. By the time Rockefeller had reached the age of 40, his company had controlled all national oil refining by 90% and about 70% of international export of said oil.
However, the reason Rockefeller controlled 90% is because of a company that basically appeared from nowhere and had some actual competition for Standard Oil and actually surprised Rockefeller. The company was known as the Tidewater Pipe-line Company, it started by building a pipeline from north Pennsylvania to Williamsport. Rockefeller tried to acquire the company but in the end it ended up as Standard only competition with Tidewater controlling 10% of the oil refining market. This was however of not a large concern to Standard as they were developing products besides oil from Vaseline to candy.
Rockefeller was America’s first billionaire, and he was the true epitome of capitalism. Rockefeller was your typical rags-to-riches businessman, and at the turn of the twentieth century, while everyone else in the working class was earning ten dollars max every week, Rockefeller was earning millions. There has been much discussion as to whether Rockefeller’s success was due to being a “robber baron”, or as a “captain of industry”. By definition, a robber baron was an industrialist who exploited others in order to achieve personal wealth, however, Rockefeller’s effect on the economy and the lives of American citizens has been one of much impact, and deserves recognition. He introduced un-seen techniques that greatly modified the oil industry. During the mid-nineteenth century, there was a high demand for kerosene. In the refining process from transforming crude oil to kerosene, many wastes were produced. While others deemed the waste useless, Rockefeller turned it into income by selling them. He turned those wastes into objects that would be useful elsewhere, and in return, he amassed a large amount of wealth. He sold so much “waste” that railroad companies were desperate to be a part of his company. However, Rockefeller demanded rebates, or discounted rates, from the railroad companies, when they asked to be involved with his business. By doing so, Rockefeller was able to lower the price of oil to his customers, and pay low wages to his workers. Using these methods,
Rockefeller even wrote in a letter to a partner, "we must remember we are refining oil for the poor man and he must have it cheap and good" (83).
Rockefeller was the co-founder of the stand Oil Company. His wealth grew and became the world’s richest man. By the early 1880s, he dominated the oil business with his Standard Oil Company, in which he accounted thirty percent of. In the overall U.S. refineries and pipelines, his company accounted for around ninety percent. John D. Rockefeller was also a major philanthropist.
The Gilded Age refers to a period in which things were fraudulent and deceitful; the surface was clinquant while underneath that lustrous coat laid corruption. During the Gilded Age companies recruited to corrupt methods to further increase profits, leading to an increase in power, rapid economic prosperity, and domination of industries, leading to monopolistic corporations. As a result, antitrust laws to regulate business began to emerge in the late 19th and early 20th century known as the Progressive Era. Among these companies was Standard Oil, which was founded in 1870 by John D. Rockefeller; in 1880, Standard Oil was responsible for refining 90 percent of America’s oil and between 1880-1910, dominating the oil industry (Marshall). The lack of intervention from the government and regulations impeding monopolistic practices allowed Standard Oil to
Jay Gould was a financial mogul during the Gilded Age. He was among the wealthiest men in America because of his works as a railroad developer and speculator. He was also a financier, which was at that time, a person who made a living from investing large amounts of money in order to get money back. He was also a considered by many Americans as a Robber Baron. Unlike the likes of John D. Rockefeller, he did not have a wealthy background. His mother and father did not have a lot of money. His father was a farmer and a store owner in Roxbury, New York. His whole life can be classified as a rags to riches story that is derailed into a corrupt and vilified track.
A "robber baron" was someone who employed any means necessary to enrich themselves at the expense of their competitors. Did John D. Rockefeller fall into that category or was he one of the "captains of industry", whose shrewd and innovative leadership brought order out of industrial chaos and generated great fortunes that enriched the public welfare through the workings of various philanthropic agencies that these leaders established? In the early 1860s Rockefeller was the founder of the Standard Oil Company, who came to epitomize both the success and excess of corporate capitalism. His company was based in northwestern Pennsylvania.
These industrialists are the pillars of the American society due to the successful outcomes of their hard works. Andrew Carnegie and John D. Rockefeller were both born in an underprivileged families. Andrew Carnegie and John D. Rockefeller became the breadwinner of the family at a young age. They both worked hard despite of being born to a
Many people consider Rockefeller a robber of industry because of his forcible ways of gaining his monopolies. Rockefeller was fond of buying out small and large competitors. If the competitors refused to sell they often found Rockefeller cutting the prices of his Standard Oil or in the worst cases, their factories mysteriously blowing up. Rockefeller was obsessed with controlling the oil market and used many of undesirable tactics to flush his competitors out of the market. Rockefeller was also a master of the rebate game. He was one of the most dominant controllers of the railroads. He was so good at the rebate that at some times he skillfully commanded the rail road to pay rebates to his standard oil company on the traffic of other competitors. He was able to do this because his oil traffic was so high that he could make or break a section of a railroad a railroad company by simply not running...
Rockefeller was a Robber Baron for the simple reason that he was greedy and selfish. He has treated his workers horribly and did use his money for others. He used aggressive tactics to get to where he was.
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 similarities and differences in how both men achieved dominance.
John Rockefeller was born July 8th, 1839, the second of six children. He took a business course at Folsom Mercantile College in 1855. He was employed as an assistant bookkeeper by Hewitt and Turtle. He was paid only $50 for 3 months of work. Moving up to a cashier he made $25 a month.
Both are traits that Rockefeller accomplished and exceeded in. Rockefeller was a man that changed the world, mainly from the exponential growth of the oil industry. He received great wealth and recognition from the accomplishment. Even though he may have been seen as a bad man to the common person, he had given the world a new industry, and many jobs. Rockefeller is one of the most recognised and loved businessmen to this day, and all it started with was a little drop of
Rockefeller received his elementary and middle school education at Lincoln school. He attended Columbia University, a teacher college, and worked on making good grades to become successful. In 1930 Nelson Rockefeller graduated from Dartmouth College, earning a Bachelor of Arts Degree in economics. After Rockefeller graduated from college, he got married to Mary Todhunter Clark a few days later. Nelson and Mary had five children and then got divorce in 1962. Th...
Rockefeller’s full name is John Davidson Rockefeller Jr. He was born on January 29, 1874 in Cleveland, Ohio. He died on May 11, 1960 in Tucson, Arizona.
Morgan, Rockefeller and Carnegie were all robber barons. They all showed that they were robber barons because they were all cruel and ruthless. John d. Rockefeller was a cruel and inhuman person to his worker. He treated his workers like slaves, low pay, long working hours and he disliked union activity from anyone. Andrew Carnegie another ruthless person that would stop at nothing to win. He would compete against others and fiercely try to squash the opponents. He was a very possessive and control person.Morgan mount govern one of the less cruel and ruthless of the two powerful businessmen. Morgan criticized for creating monopolies by making it difficult for any business to compete against his own. These three business man all have done bad