USA HISTORY

Detailed explanation-1: -Rockefeller, America’s first billionaire. Long before Jeff Bezos became the world’s richest person, oil tycoon John D. Rockefeller was setting records with his wealth. Both philanthropist and ruthless baron of the Standard Oil Company, Rockefeller became America’s first billionaire in 1916.

Detailed explanation-2: -John D. Rockefeller created the Standard Oil Company, the success of which made him the world’s first billionaire and a celebrated philanthropist. He garnered both admirers and critics during his lifetime and after his death.

Detailed explanation-3: -Born into modest circumstances in upstate New York, he entered the then-fledgling oil business in 1863 by investing in a Cleveland, Ohio refinery. In 1870, he established Standard Oil, which by the early 1880s controlled some 90 percent of U.S. refineries and pipelines.

Detailed explanation-4: -Rockefeller and a business partner became oil refiners. From this small start, grew the Standard Oil Company. By the 1890s, Standard Oil owned three-quarters of the oil industry in the United States.

Detailed explanation-5: -Rockefeller’s accomplishments? John D. Rockefeller founded the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Later in life he turned his attention to charity.