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John D. Rockefeller

John D. Rockefeller. By: Bree Long. Early Life. Born on July 8, 1839 in Richford, New York Father was a “Doctor” who claimed to be able to cure cancer Mother had a very strong faith in religion Attended Owego Academy in 1853 and became very proficient in arithmetic

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John D. Rockefeller

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  1. John D. Rockefeller By: Bree Long

  2. Early Life Born on July 8, 1839 in Richford, New York Father was a “Doctor” who claimed to be able to cure cancer Mother had a very strong faith in religion Attended Owego Academy in 1853 and became very proficient in arithmetic Family moved to Cleveland, where he joined the debate team. This helped him greatly with public speaking.

  3. Early Business In 1855, Rockefeller spent 10 weeks at Folsom’s Commercial College, which taught him about economics and bookkeeping After a long and difficult job search, he got a job as an assistant bookkeeper with Hewitt and Tuttle. Honest and hard-working, he quickly earned the respect of his employers. Thus, they allowed him more freedom in the workplace to make his own business decisions. Rockefeller took on this responsibility and did very well in his ventures.

  4. Early Business (continued) A few months before he turned twenty, he started his own business. Partnering up with a man named Maurice Clark, they became commission merchants. This business was very successful. During the Civil War, grain prices went up, benefiting his business. Rockefeller realized, however, that industrial materials were much more profitable.

  5. Big Business In 1863 Rockefeller formed the firm of Andrews, Clark & Company. Rockefeller labored on increasing the efficiency of the business. He hired his own plumber, built his own cooperage shop, and used his own wagons and horses. (Effectively using vertical integration) In 1865, he bought out the other owners. He borrowed large sums of money in order to expand the business.

  6. Big Business (continued) In 1866, Rockefeller partnered up with his brother, William, and Henry Flagler, and built a refinery called Standard Works. Focused on efficiency, he decided to consolidate other oil firms in order to get rid of “waste” He made the decision to be a part of the South Improvement Scheme, which later proved detrimental to his image when it collapsed in 1872

  7. Big Business (continued) He quickly and quietly bought out the competition, starting with the larger companies and working his way down the chain. Used pipelines instead of wagons to deliver oil Formed the Standard Oil Trust in 1882

  8. Legacy Philanthropic: Established numerous foundations and trusts Political: His children and grandchildren became influential leaders in banking and government Economic: Personal wealth in today’s dollars would easily exceed billionaires such as Bill Gates and Sam Walton, making him the wealthiest man in modern history

  9. Political Cartoon This cartoon shows John D. Rockefeller as a “king” and his golden “crown” is made up of the oil companies of his empire and the railroads that help distribute it. It shows how much power Rockefeller had over the United States.

  10. Works Cited United states history. (n.d.). Retrieved from http://www.u-s-history.com/pages/h957.html Farrell, N. (2000). pbs.org. Retrieved from http://www.pbs.org/wgbh/amex/rockefellers/peopleevents/p_rock_jsr.html John d rockefeller biography. (2011). Retrieved from http://www.biography.com/people/john-d-rockefeller-9461341

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