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John D Rockefeller

John D Rockefeller

Net Worth

$418,000,000,000

Born in (City)

Florida

Born in (Country)

United States of America

Date of Birth

08th December, 1839

Date of Death

23rd December, 0937

Mother

Eliza Davison

Father

William Rockefeller Sr.

Children

  • John D. Rockefeller Jr.
  • Edith Rockefeller McCormick
  • Alta Rockefeller Prentice
  • Alice Rockefeller
  • Elizabeth Rockefeller Strong

About

A person often meets his destiny on the road he took to avoid it. John D Rockefeller is one such person. He is considered the wealthiest American of all time, and the richest person in modern history. Rockefeller Found and lead the Standard Oil Company, he’s also known for Founding the University of Chicago, Rockefeller University, Central Philippine University, General Education Board, and Rockefeller Foundation. His major occupation involved being an Oil industry business magnate and a philanthropist, he also belonged to the Republican political party. His Networth is considered US$418 billion (in 2019 dollars; inflation-adjusted) in 1913, according to Forbes and (1.5% to 2% of the United States economy; or approximately 1/65th to 1/50th of its GDP).

Early Life

Rockefeller was the second child born in Richford, New York, to con artist William Avery "Bill" Rockefeller and Eliza Davison. He had an elder sister named Lucy and four younger siblings: William Jr., Mary, and twins Franklin (Frank) and Frances. His father was of English and German descent, while his mother was of Scots-Irish descent. Bill was first a lumberman and then a traveling salesman who identified himself as a "botanic physician" who sold elixirs. The locals referred to the mysterious but fun-loving man as "Big Bill" and "Devil Bill." He was a sworn foe of conventional morality who preferred a vagabond existence and returned to his family infrequently. Throughout his life, Bill was notorious for shady schemes. In between the births of Lucy and John, Bill and his mistress and housekeeper Nancy Brown had a daughter named Clorinda who died young. Between John and William Jr.’s births, Bill and Nancy had a daughter Cornelia. Eliza was a homemaker and a devout Baptist who struggled to maintain a semblance of stability at home, as Bill was frequently gone for extended periods. She also put up with his philandering and his double life, which included bigamy. She was thrifty by nature and by necessity, and she taught her son that "willful waste makes woeful want".John did his share of the regular household chores and earned extra money raising turkeys, selling potatoes and candy, and eventually lending small sums of money to neighbors. He followed his father’s advice to "trade dishes for platters" and always get the better part of any deal. Bill once bragged, "I cheat my boys every chance I get. I want to make ’em sharp." However, his mother was more influential in his upbringing and beyond, while he distanced himself further and further from his father as his life progressed. He later stated, "From the beginning, I was trained to work, to save, and to give."

Road to Success

Rockefeller founded the Standard Oil Company in 1870. He ran it until 1897 and remained its largest shareholder. Rockefeller’s wealth soared as kerosene and gasoline grew in importance, and he became the richest person in the country, controlling 90% of all oil in the United States at his peak. Rockefeller spent much of the last 40 years of his life in retirement at his estate in Westchester County, New York, defining the structure of modern philanthropy, along with other key industrialists such as steel magnate Andrew Carnegie. His fortune was mainly used to create the modern systematic approach of targeted philanthropy through the creation of foundations that had a major effect on medicine, education, and scientific research. Rockefeller was also the founder of the University of Chicago and Rockefeller University and funded the establishment of Central Philippine University in the Philippines. He was a devout Northern Baptist and supported many church-based institutions. He adhered to total abstinence from alcohol and tobacco throughout his life

Challenges

As he grew rich, his donations became more generous, especially to his church in Cleveland; nevertheless, it was demolished in 1925, and replaced with another building. At the height of Rockefeller’s power as a monopolist, there began rumors that the family guarded an "embarrassing secret". Joseph Pulitzer offered a reward of $8,000 for information about John’s father, Bill, aka "Doc Rockefeller". However, journalists could not find him before his death, and only two years later the whole story was published.

Failures

In his 50s Rockefeller suffered from moderate depression and digestive troubles; during a stressful period in the 1890s he developed alopecia, the loss of some or all body hair. By 1901 he began wearing toupées. His hair never grew back, but other health complaints subsided as he lightened his workload. Rockefeller died of arteriosclerosis on May 23, 1937, less than two months shy of his 98th birthday, at "The Casements", his home in Ormond Beach, Florida. He was buried in Lake View Cemetery in Cleveland.

Quotes

  • Don't be afraid to give up the good to go for the great.
  • I believe that every right implies a responsibility; every opportunity, an obligation; every possession, a duty.