Thursday, July 2, 2009

John D Rockefeller (Part One)

The Standard Oil generated wealth of John D. Rockefeller was estimated at $900 million in 1913, equivalent to $189.6 Billion today. This is more than the riches of Bill Gates, Warren Buffett, and the Walton family combined! In contrast, Rockefeller’s first job, in the 1850’s, earned him a wage of just $3.57 per week.

Rockefeller developed a reputation of ruthlessness. Tales of men who had been ruined by him were accompanied by stories of bribed lawmakers, railroad corruption, and unfair discriminations. Some of the old headlines read: “Rockefeller Indicted Again,” “Standard Oil Before the Bar,” “Standard Oil Magnates Dodge Subpoenas,” “Rockefeller Faces Justice.” Later headlines changed dramatically in tone — “Rockefeller Gives Another Million to Unemployment Fund,” “Rockefeller Foundation Fights Pellagra in Georgia,” and “John D. Gives Dimes to Children” — as a more philanthropic side emerged.

No comments:

Post a Comment