John D. Rockefeller

BADONKADONK

?did JDRockefeller own 90 percent of the oil refining business in the 1880

david

Oil

John D. Rockefeller was the co-founder and president of the Standard Oil Company, which was established in 1870. Under his leadership, the company became a dominant force in the oil industry, known for its aggressive business practices and monopolistic strategies. Rockefeller's approach to business and his role in the oil industry significantly shaped the landscape of American enterprise during that era.

Who was Ida B. Tarbell?

a significant oil refiner

a proponent of the women's right to vote

an essential investigative journalist

an associate of John D. Rockefeller

He purchased coal plants around the country to add to his business.

In the 19th century, John D. Rockefeller was most associated with Standard Oil Company, which he co-founded in 1870. The company became a dominant force in the oil industry and was known for its innovative business practices and aggressive strategies that led to the monopolization of the oil market in the United States. Rockefeller's leadership and the company's growth made him one of the wealthiest individuals in history. Standard Oil was eventually broken up in 1911 due to antitrust laws.

John D. Rockefeller treated his workers well by paying them above the regular market wage and giving them large bonuses and vaccation time for rewards.

John D. Rockefeller revolutionized the oil industry by founding the Standard Oil Company in 1870, which became the first significant vertically integrated oil company. He implemented innovative business practices such as horizontal integration, acquiring rival companies to eliminate competition and create a monopoly. His strategies led to significant efficiencies in oil production and distribution, ultimately lowering prices and making oil widely accessible. Rockefeller's influence helped shape the modern petroleum industry and established practices that are still used today.

The company John D. Rockefeller was most closely associated with was the Standard Oil Company. Rockefeller was one of the co-founders as well as the Chairman. He was also the founder of the University of Chicago.

John D. Rockefeller's oil company, Standard Oil, was termed a monopoly because it controlled a significant portion of the U.S. oil industry, dominating production, refining, and distribution. By employing aggressive tactics such as undercutting competitors' prices and acquiring rival companies, Standard Oil eliminated competition and established a near-total market share. This led to concerns about unfair business practices and the negative impact on consumers, prompting the government to regulate monopolistic behavior, ultimately resulting in the company's breakup in 1911.

they worked hard and never gave up on their business

because the standard oil company was really famous and made large profits

He sold oil to the US govt for war time.

John D. Rockefeller was an American industrialist and philanthropist, best known as the co-founder of the Standard Oil Company, which dominated the oil industry in the late 19th and early 20th centuries. Born in 1839 in Richford, New York, he started his career as a bookkeeper before venturing into the oil business in the 1860s. Through aggressive business practices and strategic mergers, he amassed immense wealth, becoming the world's first billionaire. Beyond his business success, Rockefeller was also a significant philanthropist, contributing to education and public health initiatives.

His wifes name was Laura Celestia Spelman.

No - Rockefeller's net worth (from Standard Oil and subsequent breakup) is estimated to be around $600bn (today's money).

Howard Hughes' net worth was just over $1.5bn in his lifetime, even adjusted to today's money, that accounts for maybe $10-$15bn.

The difference is really in the assets the two created. Rockefeller's assets are still the backbone of today's society - oil refinement. Of all the most affluent companies in the World, 8 of the top 10 are oil extractors & refiners. Exxon Mobil and a lot of others are direct descendants of Standard Oil, which was broken up by a monopoly. The Rockefeller family still owns a significant amount of shares in these companies.

Howard Hughes' remaining assets, however, are no where near as sprawling. He owned a lot of real estate, an airline, and some film studios I believe. Most of which I think has been liquidated, but even if there was anything left after that, I'm sure it's worth a lot less than Rockefeller's assets.

Using horizontal consolidation, Rockefeller took hold of the entire petroleum refining process. He ruled only that part of the process, and revolutionized it.

Someone like Andrew Carnegie used vertical consolidation, in which he controlled every aspect of the steel business, from mining to manufacturing to transporting to selling.

he became famous by creating the Oil Refining Company that helped him get richer when cars were created in further years ahead

Well he invested a lot of his money into his business which was in the Oil Industry.

John D. Rockefeller