Rockefeller, John D.


Rockefeller, John D.

▪ American industrialist
born July 8, 1839, Richford, New York, U.S.
died May 23, 1937, Ormond Beach, Florida
 American industrialist and philanthropist, founder of the Standard Oil Company (Standard Oil Company and Trust), which dominated the oil industry and was the first great U.S. business trust.

      Rockefeller moved with his family to Cleveland, Ohio, in 1853, and six years later he established his first enterprise—a commission business dealing in hay, grain, meats, and other goods. Sensing the commercial potential of the expanding oil production in western Pennsylvania in the early 1860s, he built his first oil refinery, near Cleveland, in 1863. Within two years it was the largest refinery in the area, and thereafter Rockefeller devoted himself exclusively to the oil business.

      In 1870 Rockefeller and a few associates incorporated the Standard Oil Company (Ohio). Because of Rockefeller's emphasis on economical operations, Standard prospered and began to buy out its competitors until, by 1872, it controlled nearly all the refineries in Cleveland. That fact enabled the company to negotiate with railroads for favoured rates on its shipments of oil. It acquired pipelines and terminal facilities, purchased competing refineries in other cities, and vigorously sought to expand its markets in the United States and abroad. By 1882 it had a near monopoly of the oil business in the United States. In 1881 Rockefeller and his associates placed the stock of Standard of Ohio and its affiliates in other states under the control of a board of nine trustees, with Rockefeller at the head. They thus established the first major U.S. “trust” and set a pattern of organization for other monopolies.

      The aggressive competitive practices of Standard Oil, which many regarded as ruthless, and the growing public hostility toward monopolies, of which Standard was the best-known, caused some industrialized states to enact antimonopoly laws and led to the passage by the U.S. Congress of the Sherman Antitrust Act (1890). In 1892 the Ohio Supreme Court held that the Standard Oil Trust (Standard Oil Company and Trust) was a monopoly in violation of an Ohio law prohibiting monopolies. Rockefeller evaded the decision by dissolving the trust and transferring its properties to companies in other states, with interlocking directorates so that the same nine men controlled the operations of the affiliated companies. In 1899 these companies were brought back together in a holding company, Standard Oil Company (New Jersey), which existed until 1911, when the U.S. Supreme Court declared it in violation of the Sherman Antitrust Act and therefore illegal.

      A devout Baptist, Rockefeller turned his attention increasingly during the 1890s to charities and benevolence; after 1897 he devoted himself completely to philanthropy. He made possible the founding of the University of Chicago (Chicago, University of) in 1892, and by the time of his death he had given it more than $80 million. In association with his son, John D. Rockefeller, Jr. (Rockefeller, John D., Jr.), he created major philanthropic institutions, including the Rockefeller Institute for Medical Research (renamed Rockefeller University) in New York City (1901); the General Education Board (1902); and the Rockefeller Foundation (1913). Rockefeller's benefactions during his lifetime totaled more than $500 million.

Additional Reading
Rockefeller's life and work are discussed in Allan Nevins, Study in Power: John D. Rockefeller, Industrialist and Philanthropist, 2 vol. (1953); and David Freeman Hawke, John D.: the Founding Father of the Rockefellers (1980). A multifaceted view of Rockefeller is presented in Ron Chernow, Titan: the Life of John D. Rockefeller, Sr. (1998).

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Universalium. 2010.

Look at other dictionaries:

  • Rockefeller, John D., Jr. — ▪ American philanthropist in full  John Davison Rockefeller, Jr.  born January 29, 1874, Cleveland, Ohio, U.S. died May 11, 1960, Tucson, Arizona  American philanthropist, the only son of John D. Rockefeller, Sr. (Rockefeller, John D.), and heir… …   Universalium

  • Rockefeller, John D., III — ▪ American philanthropist in full  John Davison Rockefeller III  born March 21, 1906, New York City died July 10, 1978, Mount Pleasant, New York, U.S.       American philanthropist, eldest of the five sons of John D. Rockefeller, Jr.       After… …   Universalium

  • Rockefeller, John D(avison) — born July 8, 1839, Richford, N.Y., U.S. died May 23, 1937, Ormond Beach, Fla. U.S. industrialist and philanthropist. He moved with his family to Cleveland, Ohio, in 1853, and in 1859 he established a commission business dealing in hay, grain,… …   Universalium

  • Rockefeller, John D(avison) — (8 jul. 1839, Richford, N.Y., EE.UU.–23 may. 1937, Ormond Beach, Fla.). Empresario industrial y filántropo estadounidense. En 1853 se trasladó con su familia a Cleveland, Ohio, y en 1859 formó una empresa comisionista que comerciaba en pasto seco …   Enciclopedia Universal

  • Rockefeller,John Davison — See Rockefeller. * * * …   Universalium

  • Rockefeller, John Davison — ► (1839 1937) Industrial estadounidense, fundador de la Standard Oil Company (1870) y del trust del petróleo (1879) y su presidente hasta 1911. Reunió una de las mayores fortunas del mundo. Entre las grandes empresas controladas por la familia… …   Enciclopedia Universal

  • Rockefeller, John D(avison) —  (1839–1937) American business tycoon.  Note middle name was Davison, not Davidson …   Bryson’s dictionary for writers and editors

  • John D. Rockefeller, Jr. — John Davison Rockefeller, Jr. John D. Rockefeller Jr. Born January 29, 1874(1874 01 29) Cleveland, Ohio, U.S …   Wikipedia

  • John D. Rockefeller — John Davison Rockefeller John Davison Rockefeller Nacim …   Wikipedia Español

  • John Davison Rockefeller — John D. Rockefeller, um 1875 John Davison Rockefeller, Sr. (* 8. Juli 1839 in Richford, New York; † 23. Mai 1937 in Ormond Beach, Florida) war ein US amerikanischer Unternehmer und gilt als reichster Mensch seiner Zeit. Rockefeller war… …   Deutsch Wikipedia


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