Good Bad Billionaire

John D Rockefeller: The first billionaire

62 snips
Jul 7, 2025
Dive into the life of John D. Rockefeller, the first billionaire who revolutionized the oil industry while shaping corporate America. Discover how his ruthless tactics fueled a monopoly yet triggered antitrust laws. Unravel the contradictions of a man viewed by some as a 'robber baron' and by others as a generous philanthropist, giving away over $500 million. Explore how Rockefeller's legacy resonates in today's corporations and the ongoing debate: can vast wealth justify immense power?
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ANECDOTE

Rockefeller's Troubled Childhood

  • John D. Rockefeller's father was a con man who sold fake cures and left family turmoil.
  • Young John took charge early, displaying a money-making knack by selling sweets and raising turkeys for profit.
ANECDOTE

Persistence Lands Rockefeller Job

  • Rockefeller persistently visited firms for a bookkeeping job until he succeeded with Henry B. Tuttle.
  • He celebrated this day yearly, crediting it as the turning point of his career.
INSIGHT

Rockefeller's Vertical Integration

  • Rockefeller vertically integrated Standard Oil, controlling every step, aggressively reducing costs.
  • They even produced barrels and plumbing services, showcasing thorough cost control and efficiency.
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