Rockefeller's biography: the way to millions

For financiers, the biography of Rockefeller is a role model, because he was the richest man of the 20th century. After passing the path from the accountant to the owner of the corporation, Rockefeller put together a state with a large number of zeros. At the same time, John was an example not only of financial prosperity, but also of charity.

Birth

Rockefeller's biography begins in 1839, when he was born in Richford. William, the father of a future millionaire, worked in various fields: lending money, selling timber, etc. Thanks to his propensity for risk, he managed to put together a small capital ($ 3,100), part of which went to buy a plot of land. The other part, William prudently invested in several enterprises. About his investments, he told little John, explaining the specifics of doing business.

First earnings

John Rockefeller, whose biography will be considered in this article, earned his first money in 7 years. He fed turkeys for sale and dug out potatoes from neighbors. John recorded all his income in a small notebook. Having accumulated $ 50 to 13 years, the future oil tycoon lent them to the farmer at 8% per annum. At the age of 16, after completing courses in accounting, he went to find work. Six weeks of searching were unsuccessful. Finally, John got a job as an accountant at Hewitt and Tuttle. Working for 16 hours a day, Rockefeller quickly established himself as a professional, and soon he was offered the manager's vacated seat. True, pay steel is three times less than its predecessor. John quit ... This was the first and last time he worked for hire.

Own company

Then the biography of Rockefeller leads us to 1857, when the future oil magnate opened a joint business with Maurice Clark. Partners were lucky: a civil war broke out with the southern states. The US government needed tons of biscuits, tobacco, sugar and meat, as well as hundreds of thousands of rifles, uniforms and millions of cartridges. To fulfill these orders, starting capital was small, and John decided to take out a loan. The probability of rejection was great, but Rockefeller went to the director of the bank and frankly told everything. Sincerity of the young man made an impression on the banker, and the loan was approved.

Standard Oil

The history of John Rockefeller as an oil magnate began in 1865. At that time everything was illuminated with kerosene lamps, and kerosene itself was obtained from oil. John immediately realized the prospects of this business and engaged in its extraction by opening the company Standard Oil. When the business began to generate revenue, Rockefeller engaged in buying up other oil companies. By 1880, thanks to the numerous mergers of Standard Oil, 95% of the oil production market was owned. Even Sherman's law did not change the situation. The millionaire simply shattered Standard Oil into 34 small firms, a controlling stake of each of which was in his possession.

Charity

The Rockefeller biography is filled not only with financial victories. He is the largest philanthropist in the history of America. At the beginning of the twentieth century, John handed over business management to reliable partners, and he only dealt with charity. In 1905, he donated $ 100 million to the church, and at the end of his life gave away more than half a billion.