John D. Rockefeller

Who was John D. Rockefeller?

John Davison 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. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy. In 1870, he founded Standard Oil Company and aggressively ran it until he officially retired in 1897.

Rockefeller founded Standard Oil as an Ohio partnership with his brother William along with Henry Flagler, Jabez Bostwick, chemist Samuel Andrews, and a silent partner, Stephen V. Harkness. As kerosene and gasoline grew in importance, Rockefeller's wealth soared and he became the world's richest man and the first American worth more than a billion dollars. Adjusting for inflation, he is often regarded as the richest person in history.

Rockefeller spent the last 40 years of his life in retirement. His fortune was mainly used to create the modern systematic approach of targeted philanthropy. He was able to do this through the creation of foundations that had a major effect on medicine, education and scientific research. His foundations pioneered the development of medical research and were instrumental in the eradication of hookworm and yellow fever.

Famous Quotes:

• The ability to deal with people is as purchasable a commodity as sugar or coffee and I will pay more for that ability than for any other under the sun.
• I would rather earn 1% off a 100 people's efforts than 100% of my own efforts.
• Singleness of purpose is one of the chief essentials for success in life, no matter what may be one's aim.
• I believe in the dignity of labor, whether with head or hand; that the world owes no man a living but that it owes every man an opportunity to make a living.
• Every right implies a responsibility; Every opportunity, an obligation, Every possession, a duty.
• I believe that every right implies a responsibility; every opportunity an obligation; every possession, a duty.
• It is wrong to assume that men of immense wealth are always happy.
• I always tried to turn every disaster into an opportunity.
• If your only goal is to become rich, you will never achieve it.
• I believe in the supreme worth of the individual and in his right to life, liberty, and the pursuit of happiness.