John D. Rockefeller was an important part to the oil industry. He had many accomplishments in his lifetime. Some of his many accomplishments in his lifetime were forming his first business in 1859, getting into the oil industry, and forming The Standard Oil Company. He was a captain of industry. He was a philanthropist donating money to various causes. The amount of money he ended with compared to the amount he started with is rather impressive. Even though some people think of John D. Rockefeller as a monopolist, his accomplishments in the oil refinery business paved the way for the oil industry today. John D. Rockefeller was very determined from the start of his first business. In March 1859, he started a business with his neighbor, Maurice Clark. Rockefeller was 20-years-old at this time. The name of the business was called Clark & Rockefeller, commission merchants, that sold grain, hay, meats, and other items to people. When they first started each of them put $2,000 into the business to get the company up and running. After the first year in business the company had gross income of $450,000. The company’s profit was $4,400. By the end of the second year the profit was $17,000.
At the start of the
…show more content…
Rockefeller was very determined to be successful. The Standard Oil Company was formed in 1870. The company was made up of many people, with John D. Rockefeller owning most of the company. Rockefeller was smart enough to know that in order to stay as competitive as possible, he build the best plants using the best materials. He owned his own barrel making company and the timber used to make the barrels to reduce cost. He owned his own drayage service, which was used in the purification process. He owned his own warehouses to store the product. He owned his own boats to transport the product. John D. Rockefeller hated waste. He devoted a lot of time increasing the efficiency of oil refinery. This allowed for more products to be developed and