Tycoons: John d. Rockefeller Essay

Submitted By Macedo1
Words: 419
Pages: 2

John D. Rockefeller From rags to riches John D. Rockefeller arose from nothing. As a boy he sold candy on the streets to help provide for his family. Thus proof of his entrepreneurial and ambitious characteristics early in life. By his twenties, Rockefeller was the driving force behind the creation of the Standard Oil Company, and shortly after in his thirties Rockefeller became a billionaire holding one of the first monopolies in oil in the United States. John D. Rockefeller owned ninety percent of all the oil refineries in the United States, giving him control of all oil exports in the country. He started by refining the oil into kerosene. The kerosene was sold to fill up oil lamps becoming the man to light up all homes across America. This business made him the richest man in the world. Still, this was not enough for Rockefeller, he wanted more. Rockefeller would take any chance to reform the company guaranteeing an increase in profits. He used ruthless and shrewd tactics to obtain what he wanted. Rockefeller cut his workers pay and then forced them to work even more hours than before. When another company would arise and even hint at threatening Rockefeller’s profits, he would simply buy them out before any damage could be made. He was one of the first big business men to be accused of being a robber baron. Rockefeller was proven to be a robber baron because he always used shrewd and personal gaining business tactics to better himself and his profits. However, he did provide thousands of jobs for working Americans and through the expansion of his oil business, he also