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John D. Rockefeller. Click To Find Out More!. Childhood. Standard Oil Company. Monopoly. Philanthropy. Where Do You Want To Go?. Quiz. Rockefeller was born on July 8, 1839 in Richford, New York, but grew up in Cleveland, Ohio.

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john d rockefeller

John D. Rockefeller

Click To Find Out More!

where do you want to go

Childhood

StandardOilCompany

Monopoly

Philanthropy

Where Do You Want To Go?

Quiz

childhood

Rockefeller was born on July 8, 1839 in Richford, New York, but grew up in Cleveland, Ohio.

  • At 16, Rockefeller got his first job as a bookkeeper and eventually made $25 a week.
Childhood
standard oil company

Formed in 1873

  • Rockefeller had secret agreements with the railroads to give him a cheaper shipping price
  • Rockefeller was able to under-sell the competition and then buy them out
    • This is called Horizontal Integration
Standard Oil Company
monopoly

Standard Oil Trust was made up of Rockefeller’s industry partners

  • At its peak, Standard Oil controlled 90% of the petroleum market
  • Anti-trust legislation forced Standard Oil to break up into 34 new companies
    • Examples: Conoco, Amoco, Chevron, Esso (Exxon), Mobil, Sohio
Monopoly
philanthropy

Rockefeller gave 10% of his earnings to his church

  • He also supported education and medical science
  • Rockefeller was worth $1.4 billion at his death in 1937
    • Translates to $318.3 billion today!!!
Philanthropy
slide7

Quiz

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question 2

When Rockefeller bought out his competition, this was called…

  • Vertical Integration
  • Competitive Incorporation
  • Horizontal Integration
Question 2
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