How Did John D Rockefeller Impact On American Culture

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John D. Rockefeller’s legacy lies on the impact and affects the American culture that still continues today. Rockefeller is considered a legend due to the fact that he is the founder, along with his brother, William and others, of the Standard Oil Company and ran the business until his own retirement. He was considered the world’s first billionaire in the world and gave half of his money towards various, good causes. Rockefeller was the businessman of his time; his business career started when he was only 16, when he was buying and selling goods. But Rockefeller’s business career rose when he created the Standard Oil Company, which he is most known for. With all the money he received, Rockefeller created various foundations, charities, and …show more content…

Hewitt and John were arguing, when a great opportunity walked through the door that will soon settle the problem. A young, Englishman Maurice Clark offered Rockefeller proposing that both men will form a partnership together providing goods to merchants. Rockefeller accepted this offer, each man put $2,000 on the table, and they created “Clark & Rockefeller.” The business provided hay, grains, meats, and other items to merchants, and there first year of production was a success grossing $450,000 and a profit of $4,999. Clark and Rockefeller was triumphant than other commission merchants due to Rockefeller’s fine business …show more content…

In 1870, Rockefeller, along with his partners, created the world’s largest refinery, Standard Oil. 90 percent of all refineries and pipelines now belonged to the Standard Oil Company. In order of this to happen with all the money Rockefeller earned from the wealthy business, he bought out all of his rival refineries and made them his own. In other words this was called a monopoly, which federal governments tried to prevent monopolies to attack the high businessmen (such as Rockefeller). New York Times said “He was accused of crushing out competition, getting rich on rebates from railroads, bribing men to spy on competing companies, of making secret agreements, of coercing rivals to join the Standard Oil Company under threat of being forced out of business, building up enormous fortunes on the ruins of other men, and so on.” Samuel Dodd created an idea in 1882, all owners must combine their operation to give to a board of nine trustees, and in return they promised to share for the new organization. Managed by Rockefeller, the board of trustees control the companies into a trust. Laws like the Sherman Anti-trust Act, which said no combinations of companies that restrained interstate trade or commerce, banned this; however the federal government hardly enforced

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