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John D Rockefeller Research Paper

802 Words4 Pages

The Foundation of ExxonMobil

The Rise of Rockefeller

Born on July 8, 1839, John D. Rockefeller was one of America’s most influential figures. Particularly known as one of America’s wealthiest businessmen in the oil industry. When starting a business with his brothers and Maurice B. Clark at the age of 20, Rockefeller soon recognized the potential of the business and bought most of them out, and later founded Rockefeller and Andrews with another friend, Samuel Andrews. As the partnerships grew, and so did the business, the company’s primary focus was on incorporating local refineries, and soon enough, Rockefeller founded Standard Oil. To the company’s luck, when the demand for Kerosene and Gasoline greatly increased, so did John D. Rockefeller’s wealth. This was a period in which Rockefeller was considered America’s wealthiest man, along with one of the most influential figures in holding a 90% (at his most) control on all oil in the U.S. Due to its use for automobiles, railroads, and electricity in general, the people grew dependent on Standard Oil. Within revolutionizing the petroleum industry, Standard Oil was also considered one of the first great business trusts in the U.S. …show more content…

While having prior knowledge in running a factory producing metal castings, three brothers by the names of Michael, Peter, and James Donahue developed an interest for gas. To aid in starting the company, the brothers asked a coworker for help in gathering as much information on gas as possible. Afterward, the Common Council of the City of San Francisco gave permission to the brothers to begin their business in gasworks, and so they started with laying pipes and installing street lamps with this new form of

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