These following facts about John D. Rockefeller will probably make you feel admired about him. If you want to know what kind of person he was during his life, or what activity he did, or anything else, then this article would be really interesting for you to read. John D. Rockefeller was an American industrialist and philanthropist. He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S business trust. In 1870, he founded Standard Oil Company and aggressively ran it until he officially retired in 1897. To get to know more about him, here are some other facts about John D. Rockefeller you may consider interesting.
Facts about John D. Rockefeller 1: Meager Income
Rockefeller began with a meager income from a commission business that dealt with meat, grains, hay and other goods.
Facts about John D. Rockefeller 2: First Oil Refinery
When he sensed the potential of the growing oil business, he built his first oil refinery in Cleveland, in circa 1863.
Facts about John D. Rockefeller 3: Standard Oil Cmpany
In 1870, Rockefeller incorporated the Standard Oil Company, which was to become the largest shipper of kerosene and oil in the USA.
Facts about John D. Rockefeller 4: Tactful Economic and Business Policies
Following Rockefeller’s tactful economic and business policies, Standard Oil became successful at absorbing nearly 22 out of 26 of its competitors in Cleveland in the initial years. Slowly and steadily, all his competitors gave in and either joined Rockefeller or ceded their business.
Facts about John D. Rockefeller 5: First Billionaire
By the 1870s, Standard Oil held nearly 90% share in the oil refining industry of the US. This made Rockefeller a billionaire. He became the first American to be worth more than a billion dollars.
Facts about John D. Rockefeller 6: Newer Policies
Disturbed by his rising status in the industry and his ruthless and aggressive competitive policies, the US government had to question Rockefeller and even had to come out with a law that was against monopoly. That did not deter Rockefeller’s aspirations. On the contrary, he came up with newer policies to tackle the law.
Facts about John D. Rockefeller 7: Abstained from Alcohol and Tobacco
John D. Rockefeller abstained from alcohol and tobacco all his life. He saved most of his income and spent it on philanthropy. For this, he thanked his mother who taught him that “willful waste makes woeful want”.
Facts about John D. Rockefeller 8: Concept of Philanthropy
Rockefeller was an great philanthropist. He was the person who revolutionized the modern concept of philanthropy. Through his foundations, he supported several colleges, universities and also sponsored medical research.
Facts about John D. Rockefeller 9: Marriage and Family
Against long circulating speculations, his family has French roots, genealogists could prove the German origin of Rockefeller and trace them back to the early 17th century.
Facts about John D. Rockefeller 10: Beliefs
Rockefeller was an abolitionist who voted for Abraham Lincoln and supported the then new Republican Party. He was a faithful congregant of the Erie Street Baptist Mission Church, where he taught Sunday school, and served as a trustee, clerk, and occasional janitor.
Those following facts about John D. Rockefeller might make you feel more amazed about the his life. His life is really interesting. And also he was really a great philanthropist and really kind to people, yet really caring to each other. Hope you found John D. Rockefeller facts really interesting and useful.