John D. Rockefeller

he founded the oil company.

Hello

He gave much of his money away to charities for the poor.

To decrease competition

He was a monopolist.

They established and dominated the new steel and oil industries.

Reducing the price of goods and services to the consumer.

Reducing the price of goods and services to the consumer.

ida tarbell

He gave much of his money away to charities for the poor.

By selling oil cheaper than his competitors, forcing his competitors to go out of business or to be taken over by Rockefeller. He also gave kickbacks to the railroads to give his oil shipments preferential treatment.

Ida Tarbell

John D. Rockefeller died in his home in Ormond Beach, Florida. He passed away on may 23, 1937 at the age of 97.

John D Rockefeller is a/an Oil industry business magnate and philanthropist

John D Rockefeller's middle name was Davidson

Eliminating competition

Not sure when this question is from but I'll answer it anyways... Following the Civil War, America experienced massive industrialization. By the 1880s, businesses began to combine their companies into much larger organizations. There large companies became known as trusts. In 1881, John D. Rockefeller established the first trust, the Standard Oil Company. He pioneered many of the aggressive business practices he used by trusts. Standard Oil and other trusts used their size advantage to hold down prices and drive competitors out of business. By the turn on the century, nearly 80% of the US industry was controlled by trusts. In 1890, Congress passed the Sherman Anti-trust Act to protect fair competition. The law regulated trusts and outlawed monopolies. Federal courts were empowered to break monopolies into smaller, less powerful companies. However, the courts narrowly applied the new law. For example, in 1895, the Supreme Court ruled that the Sherman Act did not apply to trusts that controlled 98% of the country's sugar refineries.

The courts were not alone to blame for the government's failure to control trusts. Presidents sympathetic to business did not enforce the Sherman Act, like Grover Cleveland and William McKinley. By 1900, Standard Oil controlled nearly 95% of the US oil industry. The company set its price for oil below the price of production. Other oil companies could not compete. In affect Standard Oil drove them out of business. Once free of competition, Rockefeller could then raise prices. Rockefeller also forced oil transport companies to secretly pay for the privilege of hauling Standard Oil's products. The transporters paid the fees because they could not afford to lose the business of a company that so dominated the industry. These fees, called rebates, helped Standard Oil reduce costs to levels that drove its competitors out of business.

Standard Oil provided an easy target for muck-raking journalist, Ida Tarbell. From 1901 to 1904, she published a popular series of articles attacking Standard Oil. Her allegations ranged from secret rebates to accusations that Rockefeller once cheated a widow of her inheritance. Tarbell's Standard Oil series coincided with the rise to the presidency of progressive reformer, Theodore Roosevelt. The new President resolved once a for all that government would regulate trusts. Thus, he began to enforce the Sherman Act as it was originally intended. Tarbell's magazine stories and Roosevelt's anti-trust campaign caused widespread criticism of some of Standard Oil's business practices. The government now faced a difficult decision: should it break up Standard Oil's monopoly?

He over ruled oil companies

Study Island: A Trust

John D. Rockefeller is often considered a robber baron because of his ruthless business practices in establishing the Standard Oil Company, which monopolized the oil industry in the late 19th century. He used aggressive tactics, such as undercutting competitors and engaging in secret deals with railroads, to eliminate competition and control the market. This led to significant wealth accumulation and power for Rockefeller, often at the expense of smaller businesses and fair market practices. His actions exemplified the era's corporate greed and exploitation, drawing criticism for prioritizing profits over ethical considerations.

Industrialists like John D. Rockefeller, Andrew Carnegie, and J.P. Morgan were labeled "captains of industry" for their roles in driving economic growth, innovation, and job creation during the Industrial Revolution. However, they were also called "robber barons" due to their ruthless business practices, exploitation of workers, and monopolistic tendencies that stifled competition. This duality reflects the contrasting views on their impact: while they contributed significantly to the economy, their methods often raised ethical concerns about fairness and social responsibility.

Rockefeller and Vanderbilt used their wealth and influence to lobby for changes in laws that would benefit their business interests, such as regulations on competition and transportation. They also made significant contributions to political campaigns and parties to ensure favorable legislation was passed.

Ida Tarbell reported on the corrupt business practices at Standard Oil.

John D. Rockefeller established Standard Oil as a monopoly through a combination of aggressive business practices, including horizontal integration and secretive agreements with railroads to secure favorable shipping rates. He acquired or merged with competing oil companies, effectively consolidating control over the market. Additionally, Rockefeller employed tactics such as undercutting prices to drive competitors out of business and created a trust structure that allowed for centralized control over various subsidiaries. These strategies enabled Standard Oil to dominate the oil industry in the United States by the late 19th century.