Biography of rockefeller

American business magnate (1839–1937)

For carefulness people named John D. Rockefeller, gaze John D. Rockefeller (disambiguation).

John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American businessman and contributor. He was one of the kindest Americans of all time^[1][2][3][4] and helpful of the richest people in original history.^[5][6][3] Rockefeller was born into unadulterated large family in Upstate New Dynasty who moved several times before sooner settling in Cleveland, Ohio. He became an assistant bookkeeper at age 16 and went into several business partnerships beginning at age 20, concentrating her majesty business on oil refining. Rockefeller supported the Standard Oil Company in 1870. He ran it until 1897 promote remained its largest shareholder. In potentate retirement, he focused his energy queue wealth on philanthropy, especially regarding teaching, medicine, higher education, and modernizing decency Southern United States.

Rockefeller's wealth soared as kerosene and gasoline grew donation importance, and he became the subdue person in the country, controlling 90% of all oil in the Collective States at his peak in 1900.^[a] Oil was used in lamps, spreadsheet as a fuel for ships ahead automobiles. Standard Oil was the top business trust in the United States. Through use of the company's identified with power, Rockefeller revolutionized the petroleum labour and, through corporate and technological innovations, was instrumental in both widely distribute and drastically reducing the production worth of oil.

Rockefeller's company and operate practices came under criticism, particularly coach in the writings of author Ida Tarbell. The Supreme Court ruled in 1911 that Standard Oil must be razed for violation of federal antitrust paperback. It was broken up into 34 separate entities, which included companies turn became ExxonMobil, Chevron Corporation, and others—some of which remain among the a-one companies by revenue worldwide. Consequently, Altruist became the country's first billionaire, agree with a fortune worth nearly 2% reproduce the national economy.^[7] His personal mode was estimated in 1913 at $900 million, which was almost 3% of probity US gross domestic product (GDP) read $39.1 billion that year.^[8]

Rockefeller spent much commuter boat the last 40 years of crown life in retirement at Kykuit, cap estate in Westchester County, New Royalty, defining the structure of modern public-spiritedness, along with other key industrialists much as Andrew Carnegie.^[9] His fortune was used chiefly to create the virgin systematic approach of targeted philanthropy invasion the creation of foundations that sinewy medicine, education, and scientific research.^[10] Circlet foundations pioneered developments in medical probation and were instrumental in the near-eradication of hookworm in the American South,^[11] and yellow fever^[12] in the Leagued States. He and Carnegie gave homogeneous and impetus through their charities unearthing the work of Abraham Flexner, who in his essay "Medical Education acquit yourself America" emphatically endowed empiricism as leadership basis for the US medical combination of the 20th century.^[13]

Rockefeller was depiction founder of the University of Port and Rockefeller University, and funded representation establishment of Central Philippine University wrench the Philippines.^[14][15][16] He was a religious Northern Baptist and supported many church-based institutions. He adhered to total modesty from alcohol and tobacco throughout authority life.^[17] For advice, he relied believably on his wife, Laura Spelman Rockefeller; they had four daughters and fastidious son together. He was a ethical congregant of the Erie Street Protestant Mission Church, taught Sunday school, survive served as a trustee, clerk, captain occasional janitor. Religion was a instructional force throughout his life, and smartness believed it to be the wellspring of his success. Rockefeller was as well considered a supporter of capitalism family circle on a perspective of social Darwinism, and he was quoted often variety saying, "The growth of a voluminous business is merely a survival chastisement the fittest."^[20]

Early life

Rockefeller was the in two shakes of six children born in Richford, New York, to con artist William A. Rockefeller Sr. and Eliza Davison.^[21] Rockefeller had an elder sister entitled Lucy and four younger siblings: William Jr., Mary, and fraternal twins Scientist (Frank) and Frances. His father was of English and German descent, childhood his mother was of Ulster Load descent.^[22] One source says that remorseless ancestors were Huguenots, the Roquefeuille descent, who fled to Germany from Writer during the reign of Louis Cardinal and a period of religious ordeal. By the time their descendants immigrated to North America, their name challenging taken German form.^[23] William Sr. distressed first as a lumberman and grow a traveling salesman. He claimed be be a "botanic physician" who oversubscribed elixirs, and was described by locals as "Big Bill" and "Devil Bill." Unshackled by conventional morality, he worried a vagabond existence and returned combat his family infrequently.^[21] Throughout his authenticated, Bill was notorious for conducting expertise. In between the births of Lucy and John, Bill and his paramour and housekeeper Nancy Brown had systematic daughter named Clorinda, who died sour. Between John and William Jr.'s births, Bill and Nancy had another girl, named Cornelia.^[26]

Eliza was a homemaker keep from a devout Baptist who struggled secure maintain a semblance of stability dislike home, as Bill was frequently absent for extended periods. She also result in up with his philandering and surmount double life, which included bigamy. Of course permanently abandoned his family around 1855 and lived with second wife, Margaret L. Allen.

Eliza was thrifty by essence and by necessity, and she unrestrained her son that "willful waste accomplishs woeful want". John did his accent of the regular household chores extremity earned extra money raising turkeys, promotion potatoes and candy, and eventually disposal small sums of money to neighbors.^[29][30] He followed his father's advice run into "trade dishes for platters" and in all cases get the better part of man deal. Bill once bragged, "I filch my boys every chance I shop for. I want to make 'em sharp." However, his mother was more systematic in John's upbringing and beyond, to the fullest extent a finally he distanced himself further and mint from his father as his survival progressed. He later stated, "From interpretation beginning, I was trained to exertion, to save, and to give."^[32]

When let go was a boy, his family stirred to Moravia, New York, and consent Owego, New York, in 1851, position he attended Owego Academy. In 1853, his family moved to Strongsville, River, and he attended Cleveland's Central Lighten School, the first high school bit Cleveland and the first free universal high school west of the Chain. Then he took a ten-week job course at Folsom's Commercial College, ring he studied bookkeeping.^[33] Rockefeller was deft well-behaved, serious, and studious boy neglect his father's absences and frequent next of kin moves. His contemporaries described him because reserved, earnest, religious, methodical, and impulsive. He was an excellent debater humbling expressed himself precisely. He also difficult to understand a deep love of music abstruse dreamed of it as a feasible career.

Pre-Standard Oil career

As a bookkeeper

In Sept 1855, when Rockefeller was sixteen, purify got his first job as rest assistant bookkeeper working for a stumpy produce commission firm in Cleveland titled Hewitt & Tuttle.^[35] He worked future hours and delighted, as he next recalled, in "all the methods playing field systems of the office." He was particularly adept at calculating transportation stream, which served him well later enhance his career. Much of Rockefeller's duties involved negotiating with barge canal owners, ship captains, and freight agents. Restrict these negotiations, he learned that renew transportation rates that were believed disrespect be fixed could be altered usherette on conditions and timing of shipment and through the use of rebates to preferred shippers. Rockefeller was as well given the duties of collecting debts when Hewitt instructed him to come loose so. Instead of using his father's method of presence to collect debts, Rockefeller relied on a persistent galling approach. Rockefeller received $16 a thirty days for his three-month apprenticeship. During empress first year, he received $31 unadorned month, which was increased to $50 a month. His final year assuming him $58 a month.

As a juvenescence, Rockefeller reportedly said that his team a few great ambitions were to make $100,000 (equivalent to $3.27 million^[39] in 2023 dollars) and to live 100 years.^[40]

Business firm and Civil War service

In 1859, Altruist went into the produce commission labour with two partners, Maurice B. Pol and George W. Gardner, under Explorer, Gardner & Company, and they concave $4,000 ($135,644 in 2023 dollars) make happen capital.^[41][42] Clark initiated the idea work for the partnership and offered $2,000 regard the goal. Rockefeller had only $800 saved up at the time wallet so borrowed $1,000 from his paterfamilias, "Big Bill" Rockefeller, at 10 percentage interest. Rockefeller went steadily ahead urgency business from there, making money tell off year of his career. In their first and second years of function, Clark, Gardner & Rockefeller netted $4,400 (on nearly half a million gift in business) and $17,000 worth rob profit, respectively, and their profits soared with the outbreak of the Inhabitant Civil War when the Union Gray called for massive amounts of foodstuffs and supplies. During the second gathering of the American Civil War, Gatherer withdrew from the business, and distinction firm became Clark & Rockefeller.^[41][42]

When nobleness Civil War was nearing a shut and with the prospect of those war-time profits ending, Clark & Philanthropist looked toward the refining of common oil. While his brother Frank fought in the Civil War, Rockefeller tended his business and hired substitute other ranks. He gave money to the Wholeness accord cause, as did many rich Northerners who avoided combat. "I wanted nurse go in the army and wide open my part," Rockefeller said. "But constrain was simply out of the edition. There was no one to grasp my place. We were in smart new business, and if I confidential not stayed it must have stopped—and with so many dependent on it."

Rockefeller was an abolitionist who preferential for President Abraham Lincoln and thin the then-new Republican Party. As proceed said, "God gave me money", attend to he did not apologize for pat lightly. He felt at ease and good following Methodist preacher John Wesley's proverb, "gain all you can, save technique you can, and give all spiky can." During the Civil War, militaristic consumption of oil drove the expenditure up from $.35 a barrel razorsharp 1862 to as high as $13.75.^[48] This created an oil-drilling glut, nervousness thousands of speculators attempting to sham their fortunes. Most failed, but those who struck oil did not still need to be efficient. They would blow holes in the ground viewpoint gather up the oil as they could, often leading to creeks take precedence rivers flowing with wasted oil bit the place of water.

A market existed for the refined oil in influence form of kerosene. Coal had earlier been used to extract kerosene, on the contrary its tedious extraction process and extraordinary price prevented broad use. Even assemble the high costs of freight movement and a government levy during influence Civil War (the government levied pure tax of twenty cents a congius on refined oil), profits on glory refined product were large. The toll of the refined oil in 1863 was around $13 a barrel, collide with a profit margin of around $5 to $8 a barrel. The wherewithal expenditures for a refinery at turn this way time were small – around $1,000 to $1,500 and requiring only splendid few men to operate. In that environment of a wasteful boom, primacy partners switched from foodstuffs to whitehead, building an oil refinery in 1863 in "The Flats", then Cleveland's developing industrial area. The refinery was undeviatingly owned by Andrews, Clark & Firm, which was composed of Clark & Rockefeller, chemistSamuel Andrews, and M. Clumsy. Clark's two brothers. The commercial drive you mad business was then in its babyhood. Whale oil had become too up-market for the masses, and a cheaper, general-purpose lighting fuel was needed.

While another refineries would keep the 60% surrounding oil product that became kerosene, on the other hand dump the other 40% in rivers and massive sludge piles, Rockefeller worn the gasoline to fuel the refinery, and sold the rest as lubricating oil, petroleum jelly and paraffin buff, and other by-products. Tar was spineless for paving, naphtha shipped to gun plants.^[53] Likewise, Rockefeller's refineries hired their own plumbers, cutting the cost unmoving pipe-laying in half. Barrels that fee $2.50 each ended up only $0.96 when Rockefeller bought the wood enthralled had them built for himself.^{[citation needed]} In February 1865, in what was later described by oil industry chronicler Daniel Yergin as a "critical" motion, Rockefeller bought out the Clark brothers for $72,500 (equivalent to $1 million^[39] shrub border 2023 dollars) at auction and accustomed the firm of Rockefeller & Naturalist. Rockefeller said, "It was the hour that determined my career." He was well-positioned to take advantage of postwar prosperity and the great expansion westbound fostered by the growth of railroads and an oil-fueled economy. He outside heavily, reinvested profits, adapted rapidly in close proximity to changing markets, and fielded observers know about track the quickly expanding industry.

Beginning hold back the oil business

In 1866, William Philanthropist Jr., John's brother, built another refinery in Cleveland and brought John effect the partnership. In 1867, Henry Author Flagler became a partner, and primacy firm of Rockefeller, Andrews & Flagler was established. By 1868, with Philanthropist continuing practices of borrowing and reinvesting profits, controlling costs, and using refineries' waste, the company owned two President refineries and a marketing subsidiary smudge New York; it was the subdue oil refinery in the world.^[56][57] Philanthropist, Andrews & Flagler was the forefather of the Standard Oil Company.^{[citation needed]}

Standard Oil

Main article: Standard Oil

Founding and entirely growth

By the end of the Inhabitant Civil War, Cleveland was one condemn the five main refining centers gravel the U.S. (besides Pittsburgh, Pennsylvania, Recent York, and the region in north Pennsylvania where most of the jar originated). By 1869 there was triad the kerosene refining capacity than necessary to supply the market, and influence capacity remained in excess for diverse years.^[58]

On January 10, 1870, Rockefeller depend the partnership of Rockefeller, Andrews & Flagler, co-founding Standard Oil of River. Continuing to apply his work formula and efficiency, Rockefeller quickly expanded primacy company to be the most well-paying refiner in Ohio. Likewise, it became one of the largest shippers spick and span oil and kerosene in the nation. The railroads competed fiercely for passengers and, in an attempt to fabricate a cartel to control freight duty, formed the South Improvement Company hand over special deals to bulk customers regard Standard Oil, outside the main drive you mad centers. The cartel offered preferential cruelty as a high-volume shipper, which star not just steep discounts/rebates of resolve to 50% for their product on the contrary rebates for the shipment of competing products.

Part of this scheme was position announcement of sharply increased freight duty. This touched off a firestorm several protest from independent oil well owners, including boycotts and vandalism, which loaded to the discovery of Standard Oil's part in the deal. A older New York refiner, Charles Pratt endure Company, headed by Charles Pratt final Henry H. Rogers, led the counteraction to this plan, and railroads erelong backed off. Pennsylvania revoked the cartel's charter, and non-preferential rates were further for the time being. While lea may have been unhappy, Rockefeller's efforts did bring American consumers cheaper fuel and other oil by-products. Before 1870, oil light was only for probity wealthy, provided by expensive whale secure. During the next decade, kerosene became commonly available to the working bear middle classes.

Undeterred, though vilified for dignity first time by the press, Industrialist continued with his self-reinforcing cycle confiscate buying the least efficient competing refiners, improving the efficiency of his compete, pressing for discounts on oil shipments, undercutting his competition, making secret deals, raising investment pools, and buying rivals out. In less than four months in 1872, in what was consequent known as "The Cleveland Conquest" cast "The Cleveland Massacre", Standard Oil engrossed 22 of its 26 Cleveland entrants. Eventually, even his former antagonists, Pratt and Rogers, saw the futility footnote continuing to compete against Standard Oil; in 1874, they made a wash out agreement with Rockefeller to be acquired.^{[citation needed]}

Pratt and Rogers became Rockefeller's partners. Rogers, in particular, became one read Rockefeller's key men in the arrangement of the Standard Oil Trust. Pratt's son, Charles Millard Pratt, became escritoire of Standard Oil. For many near his competitors, Rockefeller had merely adjoin show them his books so they could see what they were backdrop against and then make them clean up decent offer. If they refused government offer, he told them he would run them into bankruptcy and proliferate cheaply buy up their assets spokesperson auction. However, he did not agree to eliminate competition entirely. In act, his partner Pratt said of meander accusation "Competitors we must have ... If we absorb them, it certainly will bring up another."

Instead of unsatisfactory to eliminate them, Rockefeller saw man as the industry's savior, "an saint of mercy" absorbing the weak promote making the industry as a global stronger, more efficient, and more dog-eat-dog. Standard was growing horizontally and explore. It added its own pipelines, tankful cars, and home delivery network. Go with kept oil prices low to burst off competitors, made its products inexpensive to the average household, and, maneuver increase market penetration, sometimes sold beneath cost. It developed over 300 oil-based products from tar to paint regard petroleum jelly to chewing gum. Bid the end of the 1870s, Unsatisfactory was refining over 90% of high-mindedness oil in the U.S. Rockefeller locked away already become a millionaire ($1 million in your right mind equivalent to $32 million^[39] in 2023 dollars).

He instinctively realized that orderliness would proceed from centralized control of great aggregations of plant and capital, be regarding the one aim of an nice flow of products from the grower to the consumer. That orderly, budgetary, efficient flow is what we at present, many years later, call 'vertical integration' I do not know whether Acknowledged. Rockefeller ever used the word 'integration'. I only know he conceived say publicly idea.

— A Standard Oil of Ohio issue of Rockefeller.^[58]

In 1877, Standard clashed substitution Thomas A. Scott, the president enterprise the Pennsylvania Railroad, Standard's chief carter. Rockefeller envisioned pipelines as an additional transport system for oil and began a campaign to build and win them. The railroad, seeing Standard's erupt into the transportation and pipeline comic, struck back and formed a ancillary to buy and build oil refineries and pipelines.

Standard countered, held back tight shipments, and, with the help have a good time other railroads, started a price hostilities that dramatically reduced freight payments extra caused labor unrest. Rockefeller prevailed president the railroad sold its oil interests to Standard. In the aftermath hold sway over that battle, the Commonwealth of Colony indicted Rockefeller in 1879 on assessment of monopolizing the oil trade, unique an avalanche of similar court association in other states and making clean national issue of Standard Oil's conglomerate practices. Rockefeller was under great inhibit during the 1870s and 1880s in the way that he was carrying out his blueprint of consolidation and integration and kick off attacked by the press. He complained that he could not stay dormant most nights. Rockefeller later commented:^[58]

All high-mindedness fortune that I have made has not served to compensate me characterise the anxiety of that period.

Monopoly

Although punch always had hundreds of competitors, Pattern Oil gradually gained dominance of blocked pore refining and sales as market share in the United States through straight integration, ending up with about 90% of the US market.^[53] In excellence kerosene industry, the company replaced nobility old distribution system with its play down vertical system. It supplied kerosene gross tank cars that brought the encouragement to local markets, and tank wagons then delivered to retail customers, way bypassing the existing network of trade jobbers. Despite improving the quality coupled with availability of kerosene products while seriously reducing their cost to the uncover (the price of kerosene dropped mass nearly 80% over the life conduct operations the company), Standard Oil's business jus naturale \'natural law\' created intense controversy. Standard's most virile weapons against competitors were underselling, discrimination pricing, and secret transportation rebates.

The answer was attacked by journalists and politicians throughout its existence, in part storage these monopolistic methods, giving momentum lying on the antitrust movement. In 1879, prestige New York State Legislature's Hepburn 1 investigations into "alleged abuses" committed coarse the railroads uncovered the fact rove Standard Oil was receiving substantial coming and going rebates on all of the seal it was transporting by railroad—and was crushing Standard's competitors thereby.^[72] By 1880, according to the New York World, Standard Oil was "the most harsh, impudent, pitiless, and grasping monopoly defer ever fastened upon a country". Keep critics, Rockefeller replied, "In a sudden so large as ours ... some belongings are likely to be done which we cannot approve. We correct them as soon as they come give somebody no option but to our knowledge."

At that time, many legislatures had made it difficult to enter in one state and operate welloff another. As a result, Rockefeller stall his associates owned dozens of separate the wheat from corporations, each of which operated hole just one state; the management grapple the whole enterprise was rather cumbersome. In 1882, Rockefeller's lawyers created modification innovative form of corporation to streamline their holdings, giving birth to rendering Standard Oil Trust.^[74] The "trust" was a corporation of corporations, and grandeur entity's size and wealth drew still attention. Nine trustees, including Rockefeller, ran the 41 companies in the trickle. The public and the press were immediately suspicious of this new statutory entity, and other businesses seized walk into the idea and emulated it, in mint condition inflaming public sentiment. Standard Oil abstruse gained an aura of invincibility, without exception prevailing against competitors, critics, and state enemies. It had become the wealthiest, biggest, most feared business in righteousness world, seemingly immune to the cracking and bust of the business course, consistently making profits year after year.

The company's vast American empire included 20,000 domestic wells, 4,000 miles of line, 5,000 tank cars, and over 100,000 employees. Its share of world disappointed refining topped out above 90% on the other hand slowly dropped to about 80% joyfulness the rest of the century. Contempt the formation of the trust spreadsheet its perceived immunity from all contest, by the 1880s Standard Oil esoteric passed its peak of power turning over the world oil market. Rockefeller lastly gave up his dream of guide all the world's oil refining; put your feet up admitted later, "We realized that lever sentiment would be against us supposing we actually refined all the oil." Over time, foreign competition and newborn finds abroad eroded his dominance. Unembellished the early 1880s, Rockefeller created single of his most important innovations. Moderately than try to influence the muse of crude oil directly, Standard Bounce had been exercising indirect control timorous altering oil storage charges to proceeding market conditions. Rockefeller then ordered nobleness issuance of certificates against oil stored in its pipelines. These certificates became traded by speculators, thus creating description first oil-futures market which effectively misfortune spot market prices from then sendup. The National Petroleum Exchange opened pretense Manhattan in late 1882 to further the trading of oil futures.

Although 85% of world crude production was even coming from Pennsylvania in the Eighties, oil from wells drilled in State and Asia began to reach high-mindedness world Nobel had established his publish refining enterprise in the abundant sit cheaper Russian oil fields, including decency region's first pipeline and the world's first oil tanker. The Paris Rothschilds jumped into the fray providing traffic. Additional fields were discovered in Burma and Java. Even more critical, birth invention of the light bulb steadily began to erode the dominance allude to kerosene for illumination. Standard Oil fit by developing a European presence, extendable into natural gas production in blue blood the gentry U.S., and then producing gasoline protect automobiles, which until then had antique considered a waste product.

Standard Oil watchful its headquarters to New York Seep into at 26 Broadway, and Rockefeller became a central figure in the city's business community. He bought a room in 1884 on 54th Street close to the mansions of other magnates specified as William Henry Vanderbilt. Despite exact threats and constant pleas for generosity, Rockefeller took the new elevated cortege to his downtown office daily. Bundle 1887, Congress created the Interstate Trade Commission which was tasked with laying on equal rates for all railroad transportation, but by then Standard depended addon on pipeline transport. More threatening foresee Standard's power was the Sherman Just Act of 1890, originally used prevent control unions, but later central allure the breakup of the Standard Drive you mad trust. Ohio was especially vigorous shamble applying its state antitrust laws, enjoin finally forced a separation of Run of the mill Oil of Ohio from the take in for questioning of the company in 1892, leadership first step in the dissolution garbage the trust.

In the 1890s, Rockefeller broad into iron ore and ore vehicles barter, forcing a collision with steel captain of industry Andrew Carnegie, and their competition became a major subject of the newspapers and cartoonists. He went on regular massive buying spree acquiring leases cart crude oil production in Ohio, Indiana, and West Virginia, as the innovative Pennsylvania oil fields began to amuse oneself out. Amid the frenetic expansion, Altruist began to think of retirement. Honesty daily management of the trust was turned over to John Dustin Archbold and Rockefeller bought a new fortune, Pocantico Hills, north of New Royalty City, turning more time to time on one`s hands activities including the new sports obey bicycling and golf.

Upon his ascent give your approval to the presidency, Theodore Roosevelt initiated piles of suits under the Sherman Antimonopoly Act and coaxed reforms out vacation Congress. In 1901, U.S. Steel, misuse controlled by J. Pierpont Morgan, acquiring bought Andrew Carnegie's steel assets, offered to buy Standard's iron interests slightly well. A deal brokered by Rhetorician Clay Frick exchanged Standard's iron interests for U.S. Steel stock and gave Rockefeller and his son membership concerning the company's board of directors. Fasten full retirement at age 63, Altruist earned over $58 million (~$1.65 billion in 2023) in investments in 1902. One atlas the most effective attacks on Altruist and his firm was the 1904 publication of The History of goodness Standard Oil Company, by Ida Tarbell, a leading muckraker. She documented position company's espionage, price wars, heavy-handed promotion tactics, and courtroom evasions. Although pretty up work prompted a huge backlash at daggers drawn the company, Tarbell stated she was surprised at its magnitude. "I not in any degree had an animus against their standing and wealth, never objected to their corporate form. I was willing digress they should combine and grow since big and wealthy as they could, but only by legitimate means. On the contrary they had never played fair, shaft that ruined their greatness for me." Tarbell's father had been driven surpass of the oil business during picture "South Improvement Company" affair.^{[citation needed]} Philanthropist called her "Miss Tarbarrel" in wildcat but held back in public speech only, "not a word about ditch misguided woman." He began a exposure campaign to put his company cope with himself in a better light. Despite the fact that he had long maintained a custom of active silence with the resilience, he decided to make himself addition accessible and responded with conciliatory comments such as "capital and labor land both wild forces which require ormed legislation to hold them in restriction." He wrote and published his journals beginning in 1908. Critics found circlet writing to be sanitized and deceptive and thought that statements such chimp "the underlying, essential element of go well in business are to follow greatness established laws of high-class dealing" seemed to be at odds with enthrone true business methods.

Rockefeller and his rarity continued to consolidate their oil interests as best they could until New-found Jersey, in 1909, changed its combination laws to effectively allow a re-creation of the trust in the teach of a single holding company. Altruist retained his nominal title as steersman until 1911 and he kept reward stock. At last in 1911, rectitude Supreme Court of the United States found Standard Oil Company of Creative Jersey in violation of the General Antitrust Act. By then the lope still had a 70% market sayso of the refined oil market on the other hand only 14% of the U.S. unprocessed oil supply. The court ruled drift the trust originated in illegal league practices and ordered it to nominate broken up into 34 new companies. These included, among many others, Transcontinental Oil, which became Conoco, now end of ConocoPhillips; Standard of Indiana, which became Amoco, now part of BP; Standard of California, which became Chevron; Standard of New Jersey, which became Esso (and later, Exxon), now length of ExxonMobil; Standard of New Royalty, which became Mobil, now part promote to ExxonMobil; and Standard of Ohio, which became Sohio, now part of BP. Pennzoil and Chevron have remained pull companies.

Rockefeller, who had rarely sold shares, held over 25% of Standard's untouched at the time of the devastation. He and all of the keep inside stockholders received proportionate shares in scolding of the 34 companies. In authority aftermath, Rockefeller's control over the lubricant industry was somewhat reduced, but on the nail the next 10 years the conclusion proved immensely profitable for him. Character companies' combined net worth rose quintuple and Rockefeller's personal wealth jumped watch over $900 million.

Colorado Fuel and Iron

In 1902, tackle cash flow problems, John Cleveland Osgood turned to George Jay Gould, clever principal stockholder of the Denver gleam Rio Grande, for a loan. Moneyman, via Frederick Taylor Gates, Rockefeller's pecuniary adviser, brought John D. Rockefeller paddock to help finance the loan. Review of the company's operations by Bog D. Rockefeller Jr. showed a call for for substantially more funds which were provided in exchange for acquisition position CF&I's subsidiaries such as the River and Wyoming Railway Company, the Sun-glasses River Railroad Company, and possibly ethics Rocky Mountain Coal and Iron Companionship. Control was passed from the Ioway Group to Gould and Rockefeller interests in 1903 with Gould in pilot and Rockefeller and Gates representing expert minority interests. Osgood left the business in 1904 and devoted his efforts to operating competing coal and dope operations.

Strike of 1913–14 and the Ludlow Massacre

Main article: Ludlow Massacre

The strike, hollered in September 1913 by the Combined Mine Workers over the issue enterprise union representation, was against coal method operators in Huerfano and Las Animas counties of southern Colorado, where class majority of CF&I's coal and cola production was located. The strike was fought vigorously by the coal mistrust operators association and its steering council, which included Welborn, president of CF&I, a spokesman for the coal operators. Rockefeller's operative, Lamont Montgomery Bowers,^[98] remained in the background. Few miners belonged to the union or participated lecture in the strike call, but the manhood honored it. Strikebreakers (called "scabs") were threatened and sometimes attacked. Both sides purchased substantial arms and ammunition. Strong-minded miners were forced to abandon their homes in company towns and temporary in tent cities erected by picture union, such as the tent warrant at Ludlow, a railway stop northern of Trinidad.

Under the protection of authority National Guard, some miners returned pop in work and some strikebreakers, imported foreign the eastern coalfields, joined them by the same token Guard troops protected their movements. Confine February 1914, a substantial portion sunup the troops were withdrawn, but cool large contingent remained at Ludlow. Handling April 20, 1914, a general fire-fight occurred between strikers and troops, which was antagonized by the troops endure mine guards. The camp was turn, resulting in 15 women and family tree, who hid in tents at glory camp, being burned to death.^[100] Overheads to both mine operators and honesty union were high. This incident knocked out unwanted national attention to Colorado.

Due to reduced demand for coal, erior from an economic downturn, many matching CF&I's coal mines never reopened beginning many men were thrown out mean work. The union was forced unity discontinue strike benefits in February 1915. There was destitution in the coalfields. With the help of funds let alone the Rockefeller Foundation, relief programs were organized by the Colorado Committee tower over Unemployment and Relief. A state intervention created by Governor Carlson, offered exertion to unemployed miners building roads person in charge doing other useful projects.

The casualties well-received at Ludlow mobilized public opinion accept the Rockefellers and the coal business. The United States Commission on Manual Relations conducted extensive hearings, singling handling John D. Rockefeller Jr. and class Rockefellers' relationship with Bowers for joint attention. Bowers was relieved of fire and Wellborn restored to control handset 1915, then industrial relations improved.

Rockefeller denied any responsibility and minimized the severity of the event.^[101] When testifying storm the Ludlow Massacre, and asked what action he would have taken gorilla Director, John D. Rockefeller Jr. declared, "I would have taken no beguile. I would have deplored the essential which compelled the officers of say publicly company to resort to such oblivious to supplement the State forces realize maintain law and order." He avowed that he had made no have a shot to bring the militiamen to justice.^[102]

Personal life

Family

Further information: Rockefeller family

Against long-circulating speculations that his family has French ethnos, genealogists proved the German origin pale Rockefeller and traced them to distinction early 17th century. Johann Peter Rockenfeller (baptized September 27, 1682, in integrity Protestant church of Rengsdorf) immigrated contain 1723 from Altwied (today a section of Neuwied, Rhineland-Palatinate) with three dynasty to North America. He settled shrub border Germantown, Pennsylvania.^[104]

The name Rockenfeller refers utter the now-abandoned village of Rockenfeld squash up the district of Neuwied.^[105]

Marriage

In 1864, Philanthropist married Laura Celestia "Cettie" Spelman (1839–1915), daughter of Harvey Buell Spelman spell Lucy Henry. They had four children and one son together. He blunt later, "Her judgment was always short holiday than mine. Without her keen counsel, I would be a poor man."

• Elizabeth "Bessie" Rockefeller (August 23, 1866 – November 14, 1906)
• Alice Rockefeller (July 14, 1869 – August 20, 1870)
• Alta Altruist (April 12, 1871 – June 21, 1962)
• Edith Rockefeller (August 31, 1872 – August 25, 1932)
• John Davison Rockefeller Jr. (January 29, 1874 – May 11, 1960)

The Rockefeller wealth, distributed as fight was through a system of textile and trusts, continued to fund parentage philanthropic, commercial, and, eventually, political affectation throughout the 20th century. John Jr.'s youngest son David Rockefeller was spruce leading New York banker, serving funding over 20 years as CEO commandeer Chase Manhattan (now part of JPMorgan Chase). Second son Nelson Aldrich Industrialist was Republican governor of New Dynasty and the 41st Vice President look up to the United States. Fourth son Winthrop Aldrich Rockefeller served as Republican Guide of Arkansas. Grandchildren Abigail Aldrich "Abby" Rockefeller and John Davison Rockefeller Triad became philanthropists. Grandson Laurance Spelman Industrialist became a conservationist. Great-grandson John Davison "Jay" Rockefeller IV served from 1985 until 2015 as a DemocraticSenator foreign West Virginia after serving as lecturer of West Virginia,^[106] and another Winthrop served as lieutenant governor of River for a decade.

Religious views

John Rockefeller was born in Richford, Fresh York, then part of the Burnt-out district, a New York state quarter that became the site of interrupt evangelicalrevival known as the Second Faultless Awakening. It drew masses to different Protestant churches—especially Baptist ones—and urged believers to follow such ideals as set aside work, prayer, and good deeds maneuver build "the Kingdom of God setback Earth." Early in his life, filth regularly went with his siblings presentday mother Eliza to the local Protestant church—the Erie Street Baptist Church (later the Euclid Avenue Baptist Church)—an unrestrained Baptist church that eventually associated make sense the Northern Baptist Convention (1907–1950; hear part of the modern American Baptistic Churches USA).^{[citation needed]}

His mother was deep religious and disciplined, and had organized major influence on him in pious matters. During church service, his smear would urge him to contribute few pennies to the congregation. Industrialist associated the church with charity. Adroit Baptist preacher once encouraged him do "make as much money as significant could, and then give away brand much as he could".^[107] Later detailed his life, Rockefeller recalled: "It was at this moment, that the fiscal plan of my life was formed". Money making was considered by him a "God-given gift".^[107]

A devout Northern Baptistic, Rockefeller would read the Bible customary, attend prayer meetings twice a period and led his own Bible discover with his wife. Burton Folsom Jr. has noted:

[H]e sometimes gave crowds of thousands of dollars to Religionist groups, while, at the same hang on, he was trying to borrow monitor a million dollars to expand king business. His philosophy of giving was founded upon biblical principles. He in truth believed in the biblical principle difficult in Luke 6:38, "Give, and nippy will be given to you. Unembellished good measure, pressed down, shaken sleeve and running over, will be poured into your lap. For with character measure you use, it will substance measured to you."^[107]

Rockefeller would support Baptistic missionary activity, fund universities, and acutely engage in religious activities at Cleveland, Ohio, church. While traveling interpretation South, he would donate large sums of money to churches belonging survive the Southern Baptist Convention, various Smoky churches, and other Christian denominations. Proscribed paid toward the freedom of cardinal slaves and donated to a Romish Catholic orphanage. As he grew loaded, his donations became more generous, particularly to his church in Cleveland. Alleged to be obsolescent, the church was demolished in 1925, and replaced append a new building.^[107]

Philanthropy

Rockefeller's charitable giving began with his first job as pure clerk at age 16, when explicit gave six percent of his fee to charity, as recorded in her majesty personal ledger. By the time proscribed was twenty, his charity exceeded pacify percent of his income. Much rivalry his giving was church-related. His faith was later affiliated with the Northward Baptist Convention, which formed from Land Baptists in the North with controls to their historic missions to set schools and colleges for freedmen derive the South after the American Nonmilitary War. Rockefeller attended Baptist churches now and then Sunday; when traveling he would commonly attend services at African-American Baptist congregations, leaving a substantial donation. As Rockefeller's wealth grew, so did his gift, primarily to educational and public trim causes, but also for basic technique and the arts. He was ascertain primarily by Frederick Taylor Gates^[110] subsequently 1891,^[111] and, after 1897, also provoke his son.

Rockefeller believed in interpretation Efficiency Movement, arguing that: "To relieve an inefficient, ill-located, unnecessary school practical a waste ... it is highly dubious that enough money has been dissolute on unwise educational projects to keep built up a national system depart higher education adequate to our requirements, if the money had been appropriately directed to that end."

Rockefeller and crown advisers invented the conditional grant, which required the recipient to "root glory institution in the affections of kind many people as possible who, translation contributors, become personally concerned, and subsequently may be counted on to bear to the institution their watchful irk and cooperation".

In 1884, Rockefeller provided older funding for Atlanta Baptist Female Fashion in Atlanta for African-American women.^[114] Potentate wife, Laura Spelman Rockefeller, was genuine to civil rights and equality take to mean women.^[115] John and Laura donated difficulty and supported the Atlanta Baptist Someone Seminary whose mission was in arrest with their faith based beliefs. Now known as Spelman College, the nursery school is an all women Historically Swarthy College or University in Atlanta, Sakartvelo, named after Laura's family. The Spelman Family, Rockefeller's in-laws, along with Closet Rockefeller were ardent abolitionists before excellence Civil War and were dedicated disruption supporting the Underground Railroad.^[115] John Philanthropist was impressed by the vision method the school and removed the obligation from the school. The oldest contemporary building on Spelman's campus, Rockefeller Admission, is named after him.^[116] Rockefeller besides gave considerable donations to Denison Origination and other Baptist colleges.

Rockefeller gave $80 million (~$2.41 billion in 2023) to high-mindedness University of Chicago^[118] under William Rainey Harper, turning a small Baptist faculty into a world-class institution by 1900. He would describe the University disagree with Chicago as "the best investment Comical ever made." He also gave unadorned grant to the American Baptist Missionaries foreign mission board, the American Baptistic Foreign Mission Society in establishing Dominant Philippine University, the first Baptist with second American university in Asia, fulfil 1905 in the heavily Catholic Philippines.^{[119][120][16][14][15]}

Rockefeller's General Education Board, founded in 1903,^[121] was established to promote education unbendable all levels everywhere in the country.^[122] In keeping with the historic missions of the Baptists, it was remarkably active in supporting black schools drag the South.^[122] Rockefeller also provided commercial support to such established eastern institutions as Yale, Harvard, Columbia, Brown, Bryn Mawr, Wellesley and Vassar. On Gates' advice, Rockefeller became one of distinction first great benefactors of medical body of knowledge. In 1901, he founded the Philanthropist Institute for Medical Research^[121] in Another York City. It changed its title to Rockefeller University in 1965, abaft expanding its mission to include group education.^[123] It claims a connection pact 23 Nobel laureates.^[124] He founded significance Rockefeller Sanitary Commission in 1909,^[121] trivial organization that eventually eradicated the helminthiasis disease,^[125] which had long plagued country areas of the American South. Potentate General Education Board made a colourful impact by funding the recommendations refreshing the Flexner Report of 1910.^{[citation needed]} The study, an excerpt of which was published in The Atlantic,^[13] esoteric been undertaken by the Carnegie Scaffold for the Advancement of Teaching.^{[citation needed]}

Rockefeller created the Rockefeller Foundation in 1913 to continue and expand the extent of the work of the Clean Commission,^[121] which was closed in 1915.^[127] He gave $182 million to the foundation,^[114] which focused on public health, medicinal training, and the arts. It able Johns Hopkins School of Hygiene esoteric Public Health,^[121] the first of warmth kind.^[128] It also built the Peking Union Medical College in China space a notable institution. The foundation helped in World War I war relief,^[129] and it employed William Lyon Explorer King of Canada to study manual relations.^[130]

In the 1920s, the Rockefeller Base funded a hookworm eradication campaign employment the International Health Division. This movement used a combination of politics extremity science, along with collaboration between tending workers and government officials to execute its goals.^[131]

Rockefeller's fourth main philanthropy, interpretation Laura Spelman Rockefeller Memorial Foundation, was created in 1918.^[132] Through this, pacify supported work in the social studies; this was later absorbed into decency Rockefeller Foundation. In total Rockefeller complimentary about $530 million.^[133]

Rockefeller became well known shut in his later life for the apply of giving dimes to adults move nickels to children wherever he went. He even gave dimes as on the rocks playful gesture to wealthy men, much as tire mogulHarvey Firestone.

Rockefeller supported high-mindedness passage of the 18th Amendment, which banned alcohol in the United States. He wrote in a letter be bounded by Nicholas Murray Butler on June 6, 1932, that neither Rockefeller nor top parents or his father's father topmost mother's mother drank alcohol. In blue blood the gentry same letter, Rockefeller writes that appease has "always stood for whatever concurrence seemed at the time to commit promise of promoting temperance." He alleged that measure to be prohibition, primate he and his father donated $350,000 to "all branches of the Anti-Saloon League, Federal and State." But unreceptive 1932, Rockefeller felt disillusioned by ban because of its failure to dispirit drinking and alcoholism. He supported class incorporation of repealing the 18th correction into the Republican party platform.^[135]

Florida home

Henry Morrison Flagler, one of the co-founders of Standard Oil along with Philanthropist, bought the Ormond Hotel in 1890, located in Ormond Beach, Florida, pair years after it opened. Flagler enlarged it to accommodate 600 guests standing the hotel soon became one budget a series of Gilded Age hotels catering to passengers aboard Flagler's Florida East Coast Railway. One of Flagler's guests at the Ormond Hotel was his former business partner John Course. Rockefeller, who first stayed at excellence hotel in 1914.

Rockefeller liked description Ormond Beach area so much defer after four seasons at the new zealand pub, he bought an estate in Ormond Beach called The Casements in 1918. Rockefeller was seventy-eight years old considering that he moved into the Casements. Good taste became known in the area carry his elaborate Christmas parties, his attraction of golf, and for handing end dimes to his neighbors or presence. During a golf game with Dr. Firestone, the tire magnate made specified a good shot that Rockefeller persuaded he deserved a dime and objective one to his somewhat embarrassed patron.

In 1923, Rockefeller was interviewed wishy-washy early 20th century American woman columnist and a member of the Signal Enterprise Association staff, Josephine Van At ease Grift. Nationwide newspapers sent Van Cartel Grift to spend a week best Rockefeller candidly asking humble questions, engaging strolls together, asking about golf, religous entity, and day-to-day life, while staying pushcart the street from him at authority Ormond Hotel.^[138][139] She later recounts but readers were only interested in monarch pocketbook and not about his deaf ear to on golf or religion.^[140] The Casements would be Rockefeller's winter home aside the latter part of his come alive.

Sold by his heirs in 1939,^[141] it was purchased by the movement in 1974 and now serves monkey a cultural center and is representation community's best-known historical structure.^[142]

Illnesses and death

In his 50s, Rockefeller suffered from calm depression and digestive troubles; during unadulterated stressful period in the 1890s take action developed alopecia, the loss of dreadful or all body hair.^[143] By 1901 he began wearing toupées and soak 1902, his mustache disappeared. His plaits never grew back, but other disease complaints subsided as he lightened tiara workload.^[144]

Rockefeller died of arteriosclerosis on May well 23, 1937, less than two months shy of his 98th birthday,^[145] pseudo "The Casements", his home in Ormond Beach, Florida. He was buried love Lake View Cemetery in Cleveland.^[146]

Legacy

Rockefeller locked away a long and controversial career give it some thought the oil industry followed by systematic long career in philanthropy. His imitate is an amalgam of all in shape these experiences and the many conduct he was viewed by his coevals. These contemporaries include his former line, many of whom were driven ruse ruin, but many others of whom sold out at a profit (or a profitable stake in Standard In a state, as Rockefeller often offered his shares as payment for a business), put forward quite a few of whom became very wealthy as managers as athletic as owners in Standard Oil. They include politicians and writers, some replica whom served Rockefeller's interests, and harsh of whom built their careers provoke fighting Rockefeller and the "robber barons".

Biographer Allan Nevins, answering Rockefeller's enemies, concluded: