John D. Rockefeller

John D. Rockefeller was the ultimate business tycoon. His Standard Oil Company dominated the oil industry until the Supreme Court broke it up in 1911. Shards of the Standard Oil Company can be still being seen today in the 'smaller' companies like Exxon and Mobil.

John D. was born on July 8, 1839 in Richford, New York as the second of six children. His working life started as a bookkeeper in Cleveland, Ohio for Hewitt & Tuttle commission merchants. He was a very dedicated and thorough worker and was diligent in every aspect especially finances, "The devil's in the detail." as the saying goes.

He was involved in several refineries and later in 1870 some of these became part of Standard Oil. He formed the company with his brother William Rockefeller, Henry M. Flagler, Stephen V. Harkness and Samuel Andrews.

If the game of Monopoly existed in the 19th century, John D. would probably have won it every time. His Standard Oil bought out all the competitors in the Cleveland area. It also used monopolistic practices in negotiations with railroads and shipping companies.

At the height of his wealth, John D. was worth approximately $1 billion. At the turn of the century he was probably the richest man in America. If his wealth then were compared as a ratio to the GDP of the US, in today's terms he would be worth more than $200 billion.

At the time of his death his estate was worth only about $30 million. This is due to the fact that in the latter half of his life his main occupation was that of philanthropist. Organizations that owe him a debt of gratitude (maybe even for being in existence) include the University of Chicago , Rockefeller University , Rockefeller Sanitary Commission (responsible for eradicating the hookworm in the South by 1927) and The Rockefeller Foundation . A lot of his wealth was also given to his heirs.

Though villianized by the likes of Ida Tarbell, John D. Rockefeller contributed to America in a major way. He introduced economies of scale to business and in the latter half of his life made significant charitable contributions. The game Monopoly didn't exist in the 19th century, but this man probably was the inspiration for it.

This man is worth an in depth study to better understand his business genius. One way you can do that is by getting the book Titan . It is an interesting look into the life of this enigmatic business tycoon and though you might not admire him, you will come to respect the ultimate Titan, John D. Rockefeller.