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Rockefeller Family & Rothschild Family: How did they get rich?. By: Delphine Marini. Rockefeller Family: John D. Rockefeller. John D. Rockefeller was born on July 8, 1939 in Richford, NY. He started finding employment on nearby farms Enrolled in a business school in 1855
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Rockefeller Family & Rothschild Family: How did they get rich? By: Delphine Marini
Rockefeller Family: John D. Rockefeller • John D. Rockefeller was born on July 8, 1939 in Richford, NY. • He started finding employment on nearby farms • Enrolled in a business school in1855 • After graduation: • Bookkeeper for Hewitt and Tuttle • Left and partnered with M.B. Clark to form his own business.
John D. Rockefeller: Oil Business • Clark and Rockefeller then joined Samuel Andrews to establish an oil-refining company • 1865- Rockefeller bought Clark’s share in the company • Rockefeller & Andrews Oil Company • At that time prices fluctuated dramatically • To try and stabilize oil prices, they united their company with O.H. Payne, the owner of the largest oil refinery in Cleveland.
John D. Rockefeller & Oil Refineries • Bought out many companies or drove others out of business by selling their oil for a much cheaper price • Rockefeller united all of the companies together • Became the Standard Oil Company • During the 1870s and 1880s, Rockefeller sought to expand Standard Oil’s influence • By 1878, Standard Oil controlled 90% of the oil refineries in the United States
John D. Rockefeller: Standard Oil • In the 1880s and 1890s, the Federal Gov’t attacked Rockefeller for having created a virtual monopoly over the oil industry. • In 1890, John Sherman, a senator from Ohio, proposed an anti-trust act • In 1892, Ohio’s attorney general filed suit against Rockefeller and his company. • Ohio won the case but Standard Oil appealed the decision • In 1911, US Supreme Court eventually ruled in this case that Standard Oil was a trust and had to cease to exist
John D. Rockefeller:Standard Oil Broken Up • The company broke out into numerous divisions • Rockefeller had actually retired from the company in 1895 • In 1901, he was estimated to have $900 million • He dedicated the rest of his life to philanthropic efforts • Established the University of Chicago in 1892 • Rockefeller Institute for Medical Research in 1901 • Donated to various charities through theRockefeller Foundation • Died in 1937 in Florida
The Rothschild Family:Mayer Amschel Rothschild • The Rothschild family wealth starts with Mayer Amschel Rothschild • He had five sons with his wife, Gutle, all of whom played an important role inincreasing the family wealth • Amschel Mayer, Salomon, Nathan Meyer, Karl, andJames. Family Crest
The Rothschild Family:Five Brothers • Each son opened a branch of Rothschild Bank in different countries: • Amschel Mayer- Frankfurt • Salomon- Vienna • Nathan- London • Karl- Naples • James- Paris
The Rothschild Family:Nathan • Dealt in bills of exchange and arranging foreign loans • He provided the model for his brothers who were still back in Frankfurt • In 1814, He and his brothers werecommissioned by the British government to raise the funding to help Britain and its allies to defeat Napoleon
The Rothschild Family:Four Others Mayer Amschel 1812- James 1820- Salomon Karl
The Rothschild Family:Family Legacy • Other descendants added other interests • Built and financed networks of railroads in France and Austria • During the Gold Rush, they set up agencies in Australia and California • Turned to investment in the mining of precious stones in 1887 in Africa and India • Also known for their winemaking, collecting and other charitable benefactors.
Rosthchild Now • Provides: • Investment Banking • Corporate Banking • Private Banking and Trust • Located in 34 countries: From America, to Europe, to Australia
Works Cited: • Wilson, Derek. Rothschild: The Wealth and Power of a Dynasty. New York: Charles Scribner’s Sons, 1988. • Morton, Frederic. The Rothschilds; A Family Portrait. New York: Atheneum, 1962. • ”John D. Rockefeller", Ohio History Central, October 16, 2006, http://www.ohiohistorycentral.org/entry.php?rec=326. • Tarbell, Ida. History of Standard Oil. New York, NY: Arno Press, 1976. • www.rothschild.info/start.asp • “Rothschild”, Rothschild, 2009, www.rothschild.com.