The 600 Billion Dollar Man: William Rockefeller Essay

The 600 Billion Dollar Man: William Rockefeller Essay

Length: 1387 words (4 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

The 600 Billion Dollar Man
To any other person living on July 8, 1839, it may have seen like any other day. Perhaps that day in Richmond, New York it was sunny, or maybe it rained. Whatever the case, the weather on that day could not possibly have been more inconsequential compared to what was happening in the Rockefeller household. William Rockefeller and his wife Eliza were expecting their second child, a son they would name John. William, already living a vagabond lifestyle and rarely visiting his family by the time of John’s birth, would prove to be a far from ideal father. And so John grew up in a home where his mother taught him thriftiness and struggled to keep stability, and on the occasions he saw his father, was taught to always “trade dishes for platters”. In other words, John learned early on to be frugal and always get the better part of any deal. Biographer Allan Nuvins said that “beyond question, early adversity did much to mold and toughen John’s character” (Nuvins 49).
Skipping forward about 50 years, the Standard Oil Company which Rockefeller founded has become nothing short of a force to be reckoned with. Having absorbed dozens of competitors in not only oil production but also in transportation, Standard Oil was in charge of well over 90% of oil refining in the United States. During four months in 1872 Standard Oil absorbed 22 of the competitor companies in Cleveland, one of the top oil producing regions of the time (Nuvins 363). Such rapid expansion of this massive corporation made it quite difficult to manage, and so around 1882 the Standard Oil Trust was created. This idea of a “trust” meant that one massive blanket corporation would be in charge of the dozens of smaller corporations and made up Standard...

... middle of paper ...

...derbilt and Carnegie and eventually leading to a new era of American governmental policies on business and monopolies. His massive fortune would be shared with the people, and through his philanthropy new frontiers of medical science, public health, education, and civil rights would be breached. His influence was truly felt worldwide, and it might even confidently be said that no man like him will ever be born again.

1. Abels, Jules. The Rockefeller Millions. London: Frederick Muller, 1967. Print.
2. Latham, Earl. Robber Baron or Industrial Statesman? Boston: D.C. Heath and, 1949. Print.
3. Nevins, Allan. John D. Rockefeller: The Heroic Age of American Enterprise. New York: Scribner, 1940. Print
4. Nevins, Allan. Study in Power: John D. Rockefeller, Industrialist and Philanthropist. New York: Scribner, 1953. Print.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Congo’s Struggles at the Bottom Billion Countries

- In the age of globalization and development, almost 80% of world populations are living in poverty. In the 20th century, after decolonization when most of the countries got their independency, it did not work how they wanted to. Most of the countries especially African countries, fell into deep poverty and debt which they could not stand on their feet. This paper will shed lights on the economic struggles of democratic republic of Congo and the reasons behind it then suggest some solutions. Bottom billion countries is a term that is used to referring to those countries which are falling behind or falling apart economically (Collier 2007)....   [tags: poverty, congo, bottom billion]

Strong Essays
1582 words (4.5 pages)

John D. Rockefeller Essay

- The United States has come to be known as a major world superpower throughout history. One of the main parts of America that has contributed to its renowned strength has been its economy. The United State’s economy has been growing ever since it began. Credit for its strength and progress in development can be attributed to the financial geniuses of their time. John D. Rockefeller became an economical giant during his time when he changed the face of business by developing ground-breaking new strategies to ensure financial success....   [tags: Politics, the united states, rockeffeller]

Strong Essays
1566 words (4.5 pages)

John Rockefeller: American Business Mogul Essays

- 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....   [tags: biography, oil refinery, oil company]

Strong Essays
898 words (2.6 pages)

Book Review: The Bottom Billion by Paul Collier Essay

- Paul Collier’s book is about the future of the world. Most of the world is on the positive trajectory set by growth and prosperity. The 21st Century is the age of the middle class. For most of the world, things are looking up. However, Collier is concerned with a group of countries that are not part of this trajectory. Collier is concerned with approximately 58 countries that constitute about one billion people, or 20 percent of the earth’s population (Collier 7). This “bottom billion” group belongs to countries that are not progressing with the rest of the world’s pace; in fact, they seem to be diverging and falling apart when everyone else around them are growing....   [tags: bottom billion, world trade, state sovereighty]

Strong Essays
1817 words (5.2 pages)

John D. Rockefeller Essay

- Oil has always been a coveted natural resource. Oil was discovered in the United States in 1859; since it was a young industry, it was without any structure. That is where John Davison Rockefeller stepped in. John Rockefeller was at one point one of the richest men in the world, monopolizing the oil industry which played a major role in shaping the economy. John D. Rockefeller was born on July 8, 1839 in Rickford, New York. He grew up in a very poor family. His father was William Avery Rockefeller....   [tags: natural resource, philanthropist]

Strong Essays
1048 words (3 pages)

Essay about Rockefeller

- Arguments have raged over Standard Oil and its business practices since its prime in the 1870's and 1880's. Was it a monopoly. Did it severely impede fair competition. If it was a monopoly, did it hurt the consumer. These are the questions that have been argued in debates about Standard Oil and its practices. Whether Standard Oil was a monopoly or not, the more important question to economists is, were the practices of the Standard Oil Company efficient and did it hurt the social wealth of the country....   [tags: Business Case Studies]

Strong Essays
1255 words (3.6 pages)

Rockefeller Essay example

- Rockefeller John Davison Rockefeller, a U.S industrialist was the founder of the infamous Standard Oil Company, through which he dominated the U.S oil industry in the late 19th century and early 20th century and created the first major business trust in the United States of America. His business trust made him the world first billionaire .he also created a lot of controversies and opposition because of his business practices and form of organization especially from the US government....   [tags: Free Essay Writer]

Free Essays
720 words (2.1 pages)

Essay on JD Rockefeller and Ted Turner

- Rags to Riches A Comparative Essay on JD Rockefeller and Ted Turner “Yet among men there are some endowed with vision, an insight more penetrating and more sustained. To their liberated spirit the world unfolds a farther prospect.” These words were spoken by Carleton Noyes to his class as they were analyzing The Harvard Classics (collection of poetry). This phrase means to reflect the driving genius behind such philanthropist entrepreneurs as John D. Rockefeller and Ted Turner. Both of these ‘supermen’ have displayed great determination in their lives, enabling each to accomplish far and above more mortal men....   [tags: Compare Contrast Comparison]

Strong Essays
2203 words (6.3 pages)

John D. Rockefeller Essay

- John D. Rockefeller John Davison Rockefeller (July 8, 1839 - May 23, 1937) was the guiding force behind the creation and development of the Standard Oil Company, which grew to dominate the oil industry and became one of the first big trusts in the United States, thus engendering much controversy and opposition regarding its business practices and form of organization. Rockefeller also was one of the first major philanthropists in the U.S., establishing several important foundations and donating a total of $540 million to charitable purposes....   [tags: Standard Oil Company Biography Essays]

Strong Essays
961 words (2.7 pages)

Essay about John D. Rockefeller as a Robber Baron

- John D. Rockefeller as a Robber Baron 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....   [tags: Papers]

Strong Essays
3611 words (10.3 pages)