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Rockefeller founded Standard Oil

January 10, 1870 - Rockefeller founded Standard Oil. Who is the richest American in history? Forbes, the world-renowned financial magazine, recently gave the answer. The total personal assets quoted in the Forbes list are all data from the peak of the richest people on the list. To more accurately reflect their impact on the US economy, Forbes converted everyone's personal assets into dollars in 2006 compared to the US GDP at that time. Therefore, if John Rockefeller were still alive today, his personal assets would be several times that of Gates.

1 John Davidson Rockefeller 1839 1937 305.30 billion USD

2 Andrew Carnegie 1835-1919 $281.2 billion

3 Cornelius Vanderbilt 1794-1877 $168.4 billion

4 John Jacob-Aosta 1763-1848 US$110.1 billion

5 Stephen Gerard 1750-1831 $95.60 billion

6 Richard Mellon 1858-1933 US$82.3 billion

7 A.T. Stewart 1803-1876 $80.8 billion

8 Frederick Verhauser 1834-1914 72.20 billion USD

9 Marshall Field 1834-1906 $60.1 billion

10 Sam Walton 1918-1992 $58.6 billion

11 Jay Gould 1836-1892 $58.20 billion

12 Henry Ford 1863-1947 $54.30 billion

13 Bill Gates $195.5 - 53 billion

14 Andrew Mellon 1855-1937 50.50 billion USD

15 Warren Buffett 1930- $46 billion

John D. Rockefeller (1839-1937) was an American industrialist, super-capitalist, and founder of the Mobil Oil Company (Standard Oil). Born in Richford, New York, his father, William Avery Rockefeller, was an unlicensed traveling doctor, and his mother, Eliza Davidson, was a devout Baptist. Due to his lack of responsibility, his father spent many years wandering outside as a drug dealer, resulting in a difficult family life. His mother, Eliza, took on the heavy task of supporting the family and raised five children alone. As a child, he carefully fed the young turkeys he caught and sold them at the market. At the age of 12, he had saved $50, which he lent to his neighbors to collect principal and interest. In 1855, unable to continue his education due to his father's reasons, just two months before his high school graduation on July 16, John followed his father's advice and spent 40 yuan to attend a three-month course at Folsom Business School in Cleveland. He then joined Hewitt-Tuttle as a double-entry bookkeeper.

In 1858, Clark partnered with Clark to establish the Clark-Rockefeller Company with $800 in savings and $1000 borrowed from his father, mainly dealing in agricultural products. He did not participate in the Civil War, but made huge profits during the war. In 1862, the company's profits reached US$17000.

In 1863, the refining expert Andrews persuaded Rockefeller to invest in the refinery, and the Andrews-Clark Company was established. In 1865, due to differences in partners' opinions, the company broke up and auctioned, and Rockefeller successfully bid for 72,500 dollars, renamed Rockefeller-Andrews Company. In the same year, a second refinery was opened, becoming the largest oil refinery in Cleveland. In 1866, the New York Rockefeller Company was formed, responsible for export business. In 1867, Henry Morris Ferragler joined, and the company was renamed Rockefeller-Andrews-Ferragler Company. In 1870, the company merged internally, and Standard Oil Company was established. Rockefeller served as president, with assets of 1 million dollars. Rockefeller said: "One day, all refining barrels will belong to Standard Oil Company." Less than two years later, he had annexed more than 20 oil refineries in the region, and controlled 90% of the state's refining industry, all major pipelines, and all the trucks of the Pennsylvania Railroad. He also took over the terminal facilities of a New Jersey railroad company, forcing oil capitalists in New York, Pittsburgh, and Philadelphia to fall at his feet. Then, in order to control the national oil industry, he manipulated the New York Central Railroad and Erie Company to compete with the Pennsylvania Company in terms of rail freight rates. As a result, within eight years, Mobil Oil's refining capacity soared from 4% of the country's total to 95%. Mobil Corporation controlled almost all of America's industry and several major railroad lines. In 1882, it became the first trust in American history.

Later, the Rockefeller Consortium formed a core financial institution composed of four major banks, including Citibank and Chase Manhattan Bank, and three insurance companies. These seven major companies controlled 12% of the country's bank assets and 26% of the country's insurance industry assets. Through them, the Rockefeller family influenced the decision-making of industrial enterprises. The Rockefeller Foundation established a foundation to grant grants to education (now the University of Chicago, Rockefeller University), cultural, medical and other social groups to expand their influence and influence. The Rockefeller Consortium also supports close associates to hold important government positions. For example, Dulles and Rusk, who were former secretaries of state, both served as chairmen of the Rockford Foundation; before becoming secretary of state, Kissinger served as Nelson Rockefeller (grandson of the old Rockefeller). Private foreign policy adviser. Members of the family are also active on the political stage, influencing domestic and foreign policy. For example, Nelson Rockefeller served as Vice President of the United States from 1974 to 1977.

Key words: January 10, 1870, Rockefeller, oil, standards


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17WorldNews[2025.09.12-04:46] 访问:70
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