John D. Rockefeller Essays - Rockefeller Family, Standard Oil

John D. Rockefeller During the late 1800's and early 1900's the oil industry was a monopoly that was created by one man. Some people would describe this man as a ruthless, cruel, cutthroat business tycoon. This man was John Davison Rockefeller. John D. Rockefeller made the Standard Oil Company, becoming America's first billionaire, and then gave away more than half his fortune to charities. John Rockefeller was a dedicated businessman who built himself an empire from nothing and helped others with his generous donations. His business ended up helping smaller businesses because of the new laws and restrictions that needed to be created in order for the U.S. government to have a handle on the Standard Oil Company. John D. Rockefeller changed the oil industry, created and greatly contributed to many charities in America. Rockefeller was born on July 8, 1839 in Richford, New York (J.D.R. J.D.R. Page n.p.). He married Laura C. Spelman (1839-1915) on September 8, 1864 (Rockefeller Family and Associates n.p.). His mother, Eliza Davison Rockefeller, was very religious and disciplined, she was the person who taught him to work hard, save and give to charities (J.D.R. J.D.R. Page n.p.). Rockefeller's mother had the biggest influence on him involving his religion and philanthropy. John D. Rockefellers father, William Avery Rockefeller, was a pitch man or a doctor that says he can cure cancers for a fee (J.D.R. J.D.R. Page n.p.). John and Laura Rockefeller had four girls and one boy (Rockefeller Family and Associates n.p.). The one boy they did have, John Davison Rockefeller Jr. (1874-1960), went on to continue his father's work and make the Rockefeller name a well-liked one instead of one that was a bitter reminder of his father's business techniques (Rockefeller Family and Associates n.p.). John D. Rockefel ler died on May 23, 1937 in Ormond, Florida after retiring from the oil industry in 1911 (J.D.R. Encyclopedia of World Biography Vol. 13 228). Rockefeller attended Folsom's Commercial College for ten weeks where he studied single and double entry bookkeeping, penmanship, commercial history, mercantile customs, banking and exchange to help him get a job (J.D.R. J.D.R. Page n.p.). He never attended any other type of school after attending Folsom's Commercial College. The most important person in Rockefeller's life was his mother when he was growing up (Bill Bell n.p.). She was the person who taught him about his religion. When Rockefeller was twelve years old, he loaned a local farmer fifty dollars at seven percent interest, and discovered that letting money do the work was a much better way to earn a living, instead of working one's whole life (J.D.R. J.D.R. Page n.p.). Charging interest on his money earned him more than he had to loan out and led him to stocks, where he always had more of the company's stocks than anyone else. His first real job was at as an assistant bookkeeper where he gained many responsibilities because of his hard work mentality and honesty (J.D.R. J.D.R. Page n.p.). Since Rockefeller was poor as a child he always worked hard to get anything. This was a very good quality that he had, and it helped him greatly when he was looking for a job. Rockefeller's family was Baptist and so Rockefeller himself, was a very religious ma n that always gave money to the church (J.D.R. J.D.R. Page n.p.). When Rockefeller was twenty years of age, he would give ten percent of his income to his church (Roger Draper n.p.). He even paid off the mortgage of the Euclid Avenue Baptist Church after suffering a heart attack one day before he died (Bill Bell n.p.). In his business and retired life he loved to pile up money, but also loved to give it away to charities (Bill Bell n.p.). Rockefeller first went into business, in grains, with Maurice Cark (1859) and soon expanded into oil refining when it was just getting going (J.D.R. Encyclopedia of World Biography vol. 13 226). Rockefeller was involved in the South Improvement Company Scheme in 1871, which was ...a defensive alliance of Cleveland refiners to meet the bitter opposition of the oil producers of Pennsylvania. (J.D.R. Encyclopedia of World Biography vol.13 227). The plan and the Refiner's pool were outlawed by the Pennsylvania Legislature (J.D.R.