John D. Rockefeller: The Desire to Be The Richest

Good Old Jeff vs. John D. Rockefeller

Good old Jeff may be the wealthiest American right now, but he has a long way to go to beat John D. Rockefeller, the richest American of all time. John D. Rockefeller was born in 1839 in Richford, New York, a small town in Moravia. John's father was a medical practitioner, and this influenced John's ambitions towards creating medicine and curing patients. However, John eventually pursued a different path, starting with a desire to enter the workforce in Cleveland as a shipping delivery assistant. Through his work, he saved enough money to open his own business focused on producing merchandise. He became the first American man to amass such significant wealth. (Chernow, 1998)

John D. Rockefeller: The Desire to Be The Richest

John D. Rockefeller was an oil tycoon who amassed a fortune of more than four hundred million dollars. He founded the Standard Oil Company in 1870 and ran it until 1897, during which he remained the largest shareholder. Rockefeller's wealth soared as kerosene and fuel grew in importance. He became the richest individual in the country, controlling up to 90% of the oil in the United States. Oil was used throughout the US as a light source until the introduction of electricity and as a fuel after the invention of the automobile. (Yergin, 1991)

He lived quite a blissful life and owned various homes in the United States. Among his properties was the Kykuit Estate, a 40-room historic house museum in Pocantico Hills, a hamlet in New York. The estate, where this house stands, includes numerous other homes and stretches across 75 acres with 70 roads. It also boasts a massive swimming pool, a tennis court, a significant bowling alley, and a beautifully landscaped garden. Rockefeller's wealth became so vast that it was equivalent to half of the national economy. As he grew older, he expanded his charitable giving, donating 10% of his wealth to charity every year. (Gibson, 2008)

Rockefeller's Ambition and Business Practices

Rockefeller's attraction to becoming the richest man in the United States motivated him to work hard every day. In his business, he consistently earned higher wages every week. There were many significant reasons why Rockefeller fought to eliminate competition in his company; he was a self-interested individual who disliked negotiating or competing with other competitors. This drive to dominate sometimes led to controversial business practices. For instance, he was known for paying his employees unfairly. A quote from "The New Tycoons: John D. Rockefeller" illustrates this notion by stating, "Employees pointed out that he could have paid his workers a fairer wage and settled for being a half-billionaire." This phrase emphasizes the unequal wages he paid his workers while he pursued his goal of becoming the richest man in America. (Tarbell, 1904)

Despite these practices, Rockefeller's impact on the American economy and philanthropic efforts remains profound. His legacy is a testament to the complexity of balancing ambition, ethical business practices, and philanthropy. As historians continue to study his life, the lessons learned from his rise to wealth provide valuable insights into the nature of American capitalism. (Collier & Horowitz, 1976)

References

• Chernow, R. (1998). Titan: The Life of John D. Rockefeller, Sr. Random House.
• Yergin, D. (1991). The Prize: The Epic Quest for Oil, Money, and Power. Simon & Schuster.
• Gibson, C. (2008). Wealth in America: Trends in Wealth Inequality. Springer.
• Tarbell, I. M. (1904). The History of the Standard Oil Company. McClure, Phillips and Co.
• Collier, P., & Horowitz, D. (1976). The Rockefellers: An American Dynasty. Holt, Rinehart and Winston.