John D. Rockefeller: Biography and Facts.
                     John D. Rockefeller: Biography and 
Facts
Introduction
John D. Rockefeller was the 
head of the Standard Oil 
Company and one of the 
world's richest men. He used 
his fortune to fund ongoing 
philanthropic causes.
Source: www.biography.com
Who Was John 
D. Rockefeller?
American industrialist John D. 
Rockefeller built his first oil 
refinery near Cleveland and in 
1870 incorporated the 
Standard Oil Company. 
By 1882 he had a near-
monopoly of the oil business in 
the United States. 
Later in life, Rockefeller 
devoted himself to 
philanthropy. He died in 1937.
Source: www.biography.com
Early Years
Born in Richford, New York, on 
July 8, 1839, John Davison 
Rockefeller moved with his 
family to Cleveland, Ohio, at 
the age of 14.
Source: www.biography.com
First Venture
By the age of 20, Rockefeller, 
who'd thrived at his job, 
ventured out on his own with a 
business partner, working as a 
commission merchant in hay, 
meats, grains and other goods. 
At the close of the company's 
first year in business, it had 
grossed $450,000.
Source: www.biography.com
Opportunity in 
the oil 
business
A careful and studious 
businessman who refrained 
from taking unnecessary risks, 
Rockefeller sensed an 
opportunity in the oil business 
in the early 1860s. 
With oil production ramping up 
in western Pennsylvania, 
Rockefeller decided that 
establishing an oil refinery near 
Cleveland, a short distance 
from Pittsburgh, would be a 
good business move.
Source: www.biography.com
First Refinery
In 1863, he opened his first 
refinery, and within two years it 
was the largest in the area. It 
didn't take much further 
success to convince Rockefeller 
to turn his attention full-time to 
the oil business.
Source: www.biography.com
Standard Oil
In 1870, Rockefeller and his 
associates incorporated the 
Standard Oil Company, which 
immediately prospered, thanks 
to favorable economic/industry 
conditions and Rockefeller’s 
drive to streamline the 
company’s operations and keep 
margins high.
Source: www.biography.com
Monopoly
Standard’s footprint got bigger 
as well, and it bought up 
competitors in other regions, 
soon pursuing ambitions of 
being an industry player both 
coast-to-coast in the U.S. and 
abroad. 
In just over a decade since 
Standard Oil was incorporated, 
it had a near monopoly of the 
oil business in the U.S. 
Source: www.biography.com
Antitrust 
Issues
With such an aggressive push 
into the industry, the public 
and the U.S. Congress took 
notice of Standard and its 
seemingly unstoppable march. 
Monopolistic behavior was not 
kindly regarded, and Standard 
soon became the epitome of a 
company grown too big and too 
dominant, for the public good. 
Source: www.biography.com
Later Years, 
Rockefeller passed away on 
May 23, 1937, in Ormond 
Beach, Florida. His legacy, 
however, lives on: Rockefeller 
is considered one of America's 
leading businessmen and is 
credited for helping to shape 
the U.S. into what it is today.
Source: www.biography.com