John D Rockefeller Captain Of Industry Essay

839 Words4 Pages
Hilliard 1 John D. Rockefeller was born on July, 8 1839 in Richford, New York. There he grew up with his five sibling William, Lucy, Frank, Francis, Mary and his father William Avery Rockefeller and mother Eliza Davidson. His family moved to Moravia then to Oswego, New York and finally moving to Ohio where he was enrolled at Central High School in Cleveland. Rockefeller finished high school in 1855 to attend a business course at Folsom Mercantile College. He completed the six month course in three months. He acquired his first job as an assistant bookkeeper for Hewitt & Tuttle, here he became very skilled at calculating transportation costs. In 1859 he was made partner after his showed talent for detail and work ethic. Rockefeller settled down in 1864 and married Laura Celestia Spelman to go on and have one son and four daughters. John D. Rockefeller died on May 23, 1937 in Ormond Beach, Florida from atherosclerosis. Rockefeller was said to be the wealthiest man of his time…show more content…
He introduced techniques to the oil industry that would change it forever. Rockefeller saw something that others called waste, in the refining process there are by-products when crude oil is converted to Kerosene. He sold a byproduct paraffin to candle makers and a byproduct petroleum jelly to medical companies. With his many shipments railroads were competing for his business, Rockefeller took this to his advantage. As I stated in the paragraph before Rockefeller demanded discounted rates or rebates. All of his methods were to reduce the price of oil to his consumers so they would by more from him. This caused his profits to skyrocket while his competitors were crushed by his company trying to compete with his prices. He used this to get smaller companies to hand over their stock. Rockefeller started a monopoly by crushing his competitors and raising his prices. He became the captain of the oil industry, making

    More about John D Rockefeller Captain Of Industry Essay

      Open Document