Who was John D Rockefeller and what did he accomplish?
Who was John D Rockefeller and what did he accomplish?
John D. Rockefeller founded the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Later in life he turned his attention to charity. He made possible the founding of the University of Chicago and endowed major philanthropic institutions.
Who was John D Rockefeller and what was his impact on industrialization?
In 1870, he established Standard Oil, which by the early 1880s controlled some 90 percent of U.S. refineries and pipelines. Critics accused Rockefeller of engaging in unethical practices, such as predatory pricing and colluding with railroads to eliminate his competitors in order to gain a monopoly in the industry.
What did John D Rockefeller believe?
He was a devout Northern Baptist and supported many church-based institutions. He adhered to total abstinence from alcohol and tobacco throughout his life. For advice, he relied closely on his wife Laura Spelman Rockefeller with whom he had five children.
How did John Rockefeller impact American history?
His fortune primarily came from his firm, Standard Oil Company, which grew to dominate the oil industry and become the first great American business trust. Through Standard Oil, Rockefeller controlled ninety percent of all oil in the United States, making him one of the most powerful businessmen in American history.
