For financiers, Rockefeller's biography is a role model, because he was the richest man of the 20th century. Having gone from an accountant to the owner of a corporation, Rockefeller made a fortune with a lot of zeros. At the same time, John was an example not only in financial success, but also in charity.
Birth
Rockefeller's biography begins in 1839, when he was born in the city of Richford. William, the father of the future millionaire, worked in various fields: lending money, trading in timber, etc. Due to his risk appetite, he managed to make a small capital ($ 3,100), part of which went to buy a land plot. William prudently invested the other part in several enterprises. He told little John about his investments, explaining the specifics of doing business.
First earnings
John Rockefeller, whose biography will be discussed in this article, earned his first money at 7 years old. He fed turkeys for sale and dug potatoes from neighbors. John recorded all his income in a small notebook. Having saved $ 50 by the age of 13, the future oil tycoon loaned them to the farmer at 8% per annum. At 16, having completed accounting courses, he went in search of work. Six weeks of searching were unsuccessful. Finally, John got a job at Hewitt and Tuttle as an assistant accountant. Working 16 hours a day, Rockefeller quickly established himself as a professional, and soon he was offered the vacant position of manager. True, they began to pay three times less than his predecessor. John quit ... This was the first and last time he worked for a job.
Own company
Further, Rockefeller's biography leads us to 1857, when the future oil tycoon opened a joint business with Maurice Clark. The partners were lucky: a civil war broke out with the southern states. The US government needed tons of biscuits, tobacco, sugar and meat, as well as hundreds of thousands of rifles, uniforms and millions of rounds. To fulfill these orders, the starting capital was not enough, and John decided to take a loan. The probability of failure was great, but Rockefeller went to the bank director and frankly told everything. The sincerity of the young man impressed the banker, and the loan was approved.
Standard oil
The story of John Rockefeller as an oil tycoon began in 1865. At that time, everything was lit with kerosene lamps, and kerosene itself was obtained from oil. John immediately realized the prospects of this business and began its production by opening Standard Oil. When the business began to generate revenue, Rockefeller began buying up other oil companies. By 1880, through numerous mergers, Standard Oil owned 95% of the oil production market. Even Sherman’s law did not change the situation. The millionaire simply split Standard Oil into 34 small firms, a controlling stake in each of which was in his possession.
Charity
Rockefeller's biography is filled not only with financial victories. He is the largest philanthropist in the history of America. At the beginning of the twentieth century, John transferred business management to reliable partners, and he was engaged only in charity. In 1905, he donated $ 100 million to the church, and at the end of his life he distributed more than half a billion.