John D. Rockefeller (person)

Almost synonymous with the name, Standard Oil

John Davison Rockefeller was born July 8, 1839, in Tioga, New York. After several moves, the family settled down in Strongsville, Ohio, near Cleveland. While a student in high school, he rented a room in the city and joined the local Baptist church, in which he later became a trustee. Leaving High school in 1855, He enrolled in Folson Mercantile College, for a six-month business course and shortly thereafter was working as a bookkeeper for a small firm of commision merchants and produce shippers.

In 1859, with saved and borrowed money, Rockefeller formed a partnership in the commission business with Maurice Clark. Concurrently, the first oil well was drilled in western Pennsylvania, and Cleveland soon became a major player in the booming new petroleum industry. In 1863, Rockefeller and Clark joined the oil business as refiners. With a new partner, Samuel Andrews, they built and operated an oil refinery under the name, Andrews, Clark & Co. In 1865, the partnership had grown to include five, who began to disagree on business management. They decided to sell the refinery to the highest bidder, who turned out to be non other than Rockefeller, who bought it for $72,000. He sold out his other interests and with Andrews formed Rockefeller and Andrews.

                        The Standard Oil Company

Spurred by the rapid increase in the use of kerosene, Rockefeller's financial interests increased as did the oil industry itself. In 1870, he organized The Standard Oil Company along with Andrews, brother William, Henry Flagler, and others. It had a capital of one million dollars. By 1872, Standard Oil was beginning to control the refinery industry by purchasing other refineries. Soon refining 29,000 barrels of crude oil a day, naturally they began manufacturing wooden barrels. Next came storage tanks, warehouses and plants, and in 1882, all it's properties were merged in to Standard Oil Trust. By the 1890's, Standard Oli owned three-fourths of the petroleum Business in the U.S. But here we lose sight of John D., if we continue to focus on Standard Oil. We begin to talk of antitrust trials, and monopolies and court cases, as per Microsoft. So, we'll leave that for other nodes.

At the ripe old age of 57, Rockefeller turned over the day-to-day operations and leadership to others at Standard Oil. He then began to focus on philanthropy, much like a later day mogul, Bill Gates. Amongst many other causes and foundations, in 1901, he founded the Rockefeller Institute for Medical Research (now The Rockefeller University). From here, have come multitudes of cures, treatments, knowledge and achievements which have helped to revolutionize medicine and all related fields. In 1902, he established the General Education Board (GEB) for the, "promotion of education within the United States of America witout regard to race, sex or creed." Between then and 1965, the GEB distributed $325 million for the improvement of education. Again to list and describe his philanthropic foundations and causes could take a book, so I won't.

Having married Laura Spelman in 1864, they had five children--four daughters and a son, John D. Jr. (1874-1960), who carried on his philanthropic ways. In the 1870's, Rockefeller spent much time in New York City and in 1884, bought a large brownstone at 4 West 54th Street and moved his family there. As he grew older, he spent several months each year at either Lakewood, New Jersey, or Ormond Beach, Florida. It was here, at The Casements, his Ormond Beach home, where he died on the morning of May 23, 1937. He was 97 years old.