https://padlet.com/patelannac/dziqpa8wmeh2 John D. Rockefeller en-us 2017-12-19 17:04:03 UTC 2017-12-20 20:18:42 UTC hello@padlet.com patelannac https://padlet.com/patelannac/dziqpa8wmeh2/wish/217307273 John Davison Rockefeller, the son of a traveling salesman, was born on July 8, 1839, in Richford, New York. Industrious even as a young boy the future oil magnate earned money by raising turkeys, selling candy and doing jobs for neighbors. In 1853, the Rockefeller family moved to the Cleveland, Ohio area, where John attended high school then briefly studied bookkeeping at a commercial college. He entered the fledgling oil business in 1863 by investing in a Cleveland, Ohio, refinery. He was the founder of the Standard Oil Company, became one of the world’s wealthiest men and a major philanthropist. ]]> 2017-12-19 17:08:14 UTC https://padlet.com/patelannac/dziqpa8wmeh2/wish/217307273 patelannac https://padlet.com/patelannac/dziqpa8wmeh2/wish/217311978 In 1870, he established Standard Oil, which by the early 1880s controlled some 90 percent of U.S. refineries and pipelines. Rockefeller was intrigued with the future of the oil industry, but was repelled by its past. He shunned the drills and derricks and chose the refining end instead. Refining eventually became very costly, but in the 1860s the main supplies were only barrels, a trough, a tank, and a still in which to boil the oil. The yield would usually be about 60 per cent kerosene, 10 per cent gasoline, 5 to 10 per cent benzol or naphtha, with the rest being tar and wastes. Critics accused him of predatory pricing and colluding with railroads to eliminate his competitors, in order to gain a monopoly in the industry. He ran Standard Oil until 1897. In 1911, the U.S. Supreme Court found Standard Oil in violation of anti-trust laws and ordered it to dismantle. ]]> 2017-12-19 17:22:21 UTC https://padlet.com/patelannac/dziqpa8wmeh2/wish/217311978 patelannac https://padlet.com/patelannac/dziqpa8wmeh2/wish/217588944 The Rockefeller, Andrews & Flagler company grew by incorporating local refineries. Rockefeller formally founded his most famous company, the Standard Oil Company Inc., in 1870 as an Ohio partnership. As Kerosine and gasoline grew in importance, Rockefeller's wealth soared and he became the richest person in the country, controlling 90% of all oil in the United States at his peak. Oil was used as a light source until the introduction of electricity and as a fuel after the invention of the automobile. Rockefeller gained enormous influence over the railroad industry, which transported his oil around the country. Standard Oil was the first great business trust in the United States. Rockefeller revolutionized the petroleum industry, and along with other key contemporary industrialists such as steel magnate Andrew Carnegie, defined the structure of modern philanthropy.]]> 2017-12-20 19:45:45 UTC https://padlet.com/patelannac/dziqpa8wmeh2/wish/217588944 patelannac https://padlet.com/patelannac/dziqpa8wmeh2/wish/217589217 During his life Rockefeller donated more than $500 million to various philanthropic causes. Rockefeller donated more than half a billion dollars to various educational, religious and scientific causes. Among his activities, he funded the establishment of the University of Chicago and the Rockefeller Institute for Medical Research (now Rockefeller University).]]> 2017-12-20 19:46:59 UTC https://padlet.com/patelannac/dziqpa8wmeh2/wish/217589217