The Story of AMERICA First Billionaire – John Davison Rockefeller Sr
John Davison Rockefeller Sr.
John D. Rockefeller is widely known to be the first American billionaire, He’s the wealthiest in American of all time and also one of the richest man ever lived. He was the Founder of of Standard oil Company Ohio , of University of Chicago, Rockefeller University of Chicago and Rockefeller Foundation. His fortune worth nearly 2% of national economy, His peak net worth $336 Billion.
John was born July 8, 1839 in Richford New York to a poor family, died at barely 98 on May 23, 1937. His father William Avery Bill Rockefeller was a per time sales man and a full time con artist and his mother Eliza Davison was a devout Baptist, she brought him up in the way of the Lord and he feared God. After his family moved to Cleveland, Ohio, he went for a 10 weeks business course at Folsom’s commercial college where he studied book keeping. At the age of 16 he got a job as an assistant bookkeeper in a small firm and he was dedicated to his job.
During his high school days was known to be well behaved, organized, studious and religious.
At the age of 18 he made some loan and moved a step forward in his business career, by starting is own business of commodity trading.
John D Rockefeller was a very ambitious man, he never dreamt small even from his early days in business. One of his bapriest told him ‘ earn all you can and give all you can’, John strongly believed in give and it shall be given back to you as the Bible says , and so therefore he was a heavy giver he gave all he can right from when he earn 50cents daily, he gave to his local church and missions in New York.
A year later he saw golden opportunity in the oil industry and went for, as he saw risk in the drilling of oil he decided to go into the refinery. He was what I call the peoples man, he saw this an opportunity to ltighten up the world by selling kerosene at the cheapest price possible to the common man. By January 10, 1870, he established Standard Oil Company Ohio. This company at her peak controlled 90% of oil in America and at his peak was worth about 2% of the American economy.
Standard oil controversies
Due to standard ever growing empire this drew the attention of competitors, the government and the community in a whole. In 1879 the Commonwealth of Pennsylvania indicted Rockefeller on charges of monopolizing the oil trade, starting an avalanche of similar court proceedings in other states and making a national issue of Standard Oil’s business practices, He was often attacked by the press. This pressured Rockefeller and claimed to have had sleepless night during this periods. The firm was attacked by journalists and politicians throughout its existence. To critics Rockefeller replied, “In a business so large as ours … some things are likely to be done which we cannot approve. We correct them as soon as they come to our knowledge. At last in 1911, the Supreme Court of the United States found Standard Oil Company of New Jersey in violation of the
Sherman Antitrust Act. The court ruled that the trust originated in illegal
monopoly practices and ordered it to be broken up into 34 new companies.
Which included ExxonMobil, Mobil, Chevron and many others. But this worked out to the favour of Rockefeller, in a few years later this made his shares tripled.
John D. Rockefeller’s family
In 1864 John married Laura Celestia Spelman (1839–1915). They had four daughters and one son, Elizabeth “Bessie” Rockefeller (August 23, 1866 – November 14, 1906)
Alice Rockefeller (July 14, 1869 – August 20, 1870)
Alta Rockefeller (April 12, 1871 – June 21, 1962)
Edith Rockefeller (August 31, 1872 – August 25, 1932)
John Davison Rockefeller, Jr. (January 29, 1874 – May 11, 1960)
His wife Laura brought up their children in the fear of the Lord, John D Rockefeller Jr succeeded is father as the only son of the Rockefeller.
Baptist Christian and Philanthropist
John D. Rockefeller sr. was a devout Baptist due to his upbringing by his mother who was a devout Baptist. He was a religious man and gave great reference to his religion. He was a faithful congregant of the Erie street Baptist Mission church. He served as a Sunday school teacher , he sometimes sweeps the chapel, he rings the bell, lights the candles, he was committed to service in the Lord’s house, he read the bible daily and attended prayer meetings twice a week.
Rockefeller was philanthropist. He was the world’s richest and he yet gave it away, he was said to have given away about $550,000,000 before he died. He was told by one of the Baptist priest to earn all he could and give all he could. Rockefeller be in sowing and reaping according to Luke 6:38; Give and it shall be given unto you, he therefore gave all could right from the time of nothing and this brought him to something, he was the founder of University of Chicago abs Rockefeller University of Chicago , he funded the establishment if central Philippine University in Philippines, he funded several missions and research institutions and established foundations.
Rockefeller was an honest man that feared God. He was referred to ad reserved, earnest, religious and discrete. Whatsoever he had to do he did it diligently, he believed that doing the God’s work was not only in the church but also in business. He was persistent, he took the risk and standout. I love this words of his ” My has been a long happy holiday full of work and full of play, I dropped the worries and God has been good to me everyday “