John D. Rockefeller

Profession: Oil Industrialist

Nationality:

Biography: John D. Rockefeller was one of the most influential figures in American business history, known primarily as a co-founder of Standard Oil Company. His innovative and ruthless business practices revolutionized the petroleum industry and established him as a leading figure in the American industrial era.

Rockefeller started his business career as a bookkeeper before venturing into business with his own commodities brokerage. He moved into the oil business in the early 1860s, co-founding Standard Oil in 1870 with his brother William, along with a group of other investors. The company grew rapidly and soon dominated the U.S. oil industry, thanks in part to Rockefeller's use of horizontal integration, which involved buying out competitors to monopolize the market.

Standard Oil's immense success and its virtual monopoly on the oil industry resulted in extensive scrutiny and led to a landmark U.S. Supreme Court decision in 1911 that dismantled the company due to its violation of federal anti-trust laws. Despite this, Rockefeller retained enormous wealth and influence, using his fortune to make significant contributions to philanthropic causes.

Among his many philanthropic endeavors, Rockefeller established the University of Chicago and Rockefeller University, both renowned institutions. He also created the Rockefeller Foundation to promote public health, education, and scientific research.

Born: July 8, 1839
Birthplace: Richford, New York, USA
Star Sign: Cancer

Died: May 23, 1937 (aged 97)
Cause of Death: Arteriosclerosis