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Dec 3, 2016 · The Rise and Fall of Rockefeller. The story of John D. Rockefeller and the Standard Oil trust is one of the most controversial in business history. Book Review. John Rockefeller. Monopoly. Oil. Price. Emil Duhnea. A little over a century ago, the United States found themselves in the grip of a vicious monopoly that not only controlled the ...
The Standard Oil Trust grew to control around ninety percent of the refined oil in the United States. In 1890, anti-monopoly advocates struck back, passing the Sherman Antitrust Act, which barred monopolistic trusts and, more generally and somewhat vaguely, “restraints on trade.”. Reformers viewed choke points in the system, such as ...
- The Standard Oil Company
- Philanthropy
- The University of Chicago
- Corporate Philanthropy
- The Rockefeller Institute For Medical Research
- The General Education Board
- Rockefeller Sanitary Commission
- The Rockefeller Foundation
- Other Rockefeller Philanthropic Support
- Family Life
JDR’s stake in the oil industry increased as the industry itself expanded, spurred by the rapidly spreading use of kerosene for lighting. In 1870 he organized The Standard Oil Company with his brother William, Andrews, Henry M. Flagler, Steven V. Harkness, and others. It had a capital of $1 million. By 1872 Standard Oil had purchased nearly all the...
JDR was 57 years old in 1896 when he decided that others should take over the daily leadership of Standard Oil. He now focused his efforts on philanthropy, giving away the bulk of his fortune in ways designed to do the most good as determined by careful study, experience, and the help of expert advisers. From the time he began earning money as a ch...
As his wealth grew in 1880s, JDR came to favor a cooperative and conditional system of giving in which he would support a project if others interested in it also provided substantial financial support. Thus he participated in the founding of the University of Chicago with the American Baptist Education Society by offering $600,000 of the first $1 m...
JDR recognized the difficulties of wisely applying great funds to human welfare, and he helped to define the method of scientific, efficient, corporate philanthropy. To help manage his philanthropy, he hired the Rev. Frederick T. Gates, whose work with the American Baptist Education Society and the University of Chicago inspired JDR’s confidence. W...
In 1901 JDR founded the Rockefeller Institute for Medical Research (now The Rockefeller University) for the purpose of discovering the causes, manner of prevention, and the cure of disease. A few of the noted achievements of its scientists are the serum treatment of spinal meningitis and of pneumonia; knowledge of the cause and manner of infection ...
In 1902 JDR established the General Education Board (GEB) for the “promotion of education within the United States without the distinction of race, sex or creed.” Between 1902 and 1965, the GEB distributed $325 million to improve education at all levels, with emphasis upon higher education, including medical schools. In the south, where there was s...
In 1909 JDR combined his special interest in the U.S. south with his interest in public health to create the Rockefeller Sanitary Commission for the Eradication of Hookworm Disease. Its purposse was to fund a cooperative movement to cure and prevent hookworm disease, which was especially devastating in the southern states. The commission launched a...
In 1913 JDR established the Rockefeller Foundation to “promote the well-being of mankind throughout the world.” In keeping with this broad commitment, the foundation has given important global assistance to public health, medical education, improved food production, scientific advancement, social research, and the arts. The foundation’s Internation...
In addition to creating several corporate philanthropies, JDR continued to make personal donations to the following: theological schools; the Palisades Interstate Park Commission; victims of the 1906 San Francisco earthquake; the Anti-Saloon League; Baptist missionary organizations; various YMCAs and YWCAs; parks in Cleveland; and colleges and univ...
John D. Rockefeller married Laura C. Spelman, a teacher, on September 8, 1864, in Cleveland. They had five children: Bessie, Alice, Alta, Edith, and John Jr., who inherited much of the family fortune and continued his father’s philanthropic work. In the 1870s, JDR began to make business trips to New York, and soon he started bringing his family for...
In 1881, The Atlantic magazine published Henry Demarest Lloyd’s essay “The Story of a Great Monopoly” — the first in-depth account of one of the most infamous stories in the history of capitalism: the “monopolization” of the oil refining market by the Standard Oil Company and its leader, John D. Rockefeller. “Very few of the forty ...
Sep 13, 2024 · John D. Rockefeller formed the Standard Oil Company on January 10, 1870 with his business partners and brother. The success of this business empire made Rockefeller one of the world’s first billionaires and a celebrated philanthropist. He garnered both admirers and critics during his lifetime and after his death.
Jun 28, 2024 · Rockefeller’s genius lay in his ability to streamline operations and drive down costs. By 1870, Standard Oil controlled 90% of the refining capacity in Cleveland, leveraging economies of scale to dominate the oil industry. His aggressive tactics, including strategic partnerships and mergers, solidified his company’s dominance across America.
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How did Rockefeller rise to dominance?
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Why did Rockefeller enter Standard Oil?
Did Rockefeller's 'anticompetitive misconduct' lead to Standard Oil's growth?
Should Rockefeller have been allowed to take anticompetitive actions?
Why did Rockefeller's management techniques attract great minds to standard?
The Rise of Corporate Public Relations in Progressive America, 1902-1908 247 reputation as the primary builder of Standard Oil ensured that he remained the company's public face.13 A 1915 letter to Ivy Lee asserted that Rockefeller and Standard were "in public opinion one and the same."14 Rockefeller was also a continuing influence at Stan dard.
