Why Is John D Rockefeller A Monopoly

John D. Rockefeller was the founder of Standard Oil Company; he made a fortune in the oil business. John was one of the world’s wealthiest men; he completely eliminated his competition which made him become a Monopolist. Rockefeller was a very smart man; he quickly rose to power, and knew that if he dominated one business it would allow him to make billions of dollars. John D. Rockefeller was born July 8, 1839 in Rochester New York; he was one of six children. He lived with both his mother and father; his father was English from German decent, and his mother was from Irish decent. John’s father was first a lumber man, then a traveling agent, “and then popularized himself as a “botanic physician” and sold elixirs.” His mother didn’t work outside

Rockefeller had a great idea; he stepped down from his power and gave parts of the company to other people.” Just nine years after the company broke itself into pieces in the face of antitrust legislation, those pieces were again reassembled in a holding company. In 1911, however, the U.S. Supreme Court declared the new entity in violation of the Sherman Antitrust Act and illegal, and it was again forced to dissolve.” Rockefeller attempted to gain control of his business again but the government was one step in front of him this time, and they said that it violated their law which made it

Rockefeller completely eliminated any competition; he owned 90 percent of the nation’s refineries and pipelines! That’s a lot! Owning basically all of the oil refineries meant that most of the nation’s oil had to go through Rockefeller; But Rockefeller didn’t get away with his rise to power. Many of the muckrakers targeted him. “As The New York Times reported in 1937: “He was accused of crushing out competition, getting rich on rebates from railroads, bribing men to spy on competing companies, of making secret agreements, of coercing rivals to join the Standard Oil Company under threat of being forced out of business, building up enormous fortunes on the ruins of other men, and so on.”

People saw Rockefeller’s bad side, they were not in shock. But Rockefeller also had a good side he gave a total of $530,853,632 to various charities, and research some of them were “Rockefeller Institute for Medical” Research,” the Rockefeller Foundation,” the Laura Spelman Rockefeller Memorial,” and “The General Education