https://padlet.com/izzydalo/fg400kpuju4i Was he a Robber Baron? en-us 2016-12-16 16:31:28 UTC 2026-01-31 16:51:19 UTC hello@padlet.com izzydalo https://padlet.com/izzydalo/fg400kpuju4i/wish/144090185 John D. Rockefeller (July 8, 1839-May 23, 1937) was an American industrialist, who was responsible for the Standard Oil Company. He dominated the oil industry, and was the first significant US business trust. He got his start in Ohio when he was younger, by having a commission business dealing with grains and meat at Hewitt and Tuttle. He first started earning money when he let a farmer borrow $50, and charged the farmer a 7% interest rate. In 1864 Rockefeller bought his oil refinery business, Standard Oil, which lasted until 1911 (when the Supreme Court ordered the company to break up).]]> 2016-12-16 16:39:44 UTC https://padlet.com/izzydalo/fg400kpuju4i/wish/144090185 izzydalo https://padlet.com/izzydalo/fg400kpuju4i/wish/144091680 http://thehustle.co/the-history-of-john-d-rockefeller-standard-oil
https://www.britannica.com/biography/John-D-Rockefeller
http://www.shmoop.com/gilded-age/john-d-rockefeller.html]]> 2016-12-16 16:46:20 UTC https://padlet.com/izzydalo/fg400kpuju4i/wish/144091680 izzydalo https://padlet.com/izzydalo/fg400kpuju4i/wish/144338853 2016-12-19 16:16:17 UTC https://padlet.com/izzydalo/fg400kpuju4i/wish/144338853 izzydalo https://padlet.com/izzydalo/fg400kpuju4i/wish/144342845 In 1872, Rockefeller became determined to get rid of competition, so he bought out many oil companies. By 1882, he controlled over 90% of America's refineries. He also made a secret deal with railroad companies: he promised bulk shipments in exchange for prices that would destroy his competitors (horizontal integration). This is why Congress declared Standard Oil as a monopoly. He was also considered ruthless because he would buy all the barrels on the market so his competitors would have no place to store/ship their oil.  He also bought up all of the chemicals needed to refine oil, leaving other companies in the dark. ]]> 2016-12-19 16:36:07 UTC https://padlet.com/izzydalo/fg400kpuju4i/wish/144342845 izzydalo https://padlet.com/izzydalo/fg400kpuju4i/wish/144344195 Rockefeller was a dedicated Baptist, so in the 1890s he  shifted his focus to charity. He funded the University of Chicago, giving them $35 million by the time of his death. He also founded the Rockefeller Institute for Medical Research (Rockefeller University) in New York (with his son), the General Education Board in 1902, the Rockefeller Foundation, and Spelman College.]]> 2016-12-19 16:42:16 UTC https://padlet.com/izzydalo/fg400kpuju4i/wish/144344195 izzydalo https://padlet.com/izzydalo/fg400kpuju4i/wish/144354401 Rockefeller started working at sixteen-years-old as a book keeper for a produce  brokerage.  He then left his job because of the low pay, and started his own produce business, which did very well as soon as it opened. After saving up his money, he and his business partner decided to join the "black gold" trend, and open up their own oil refining business.]]> 2016-12-19 17:29:46 UTC https://padlet.com/izzydalo/fg400kpuju4i/wish/144354401