USA HISTORY

Detailed explanation-1: -John D. Rockefeller (1839-1937), founder of the Standard Oil Company, became one of the world’s wealthiest men and a major philanthropist. Born into modest circumstances in upstate New York, he entered the then-fledgling oil business in 1863 by investing in a Cleveland, Ohio refinery.

Detailed explanation-2: -His fortune primarily came from his firm, Standard Oil Company, which grew to dominate the oil industry and become the first great American business trust. Through Standard Oil, Rockefeller controlled ninety percent of all oil in the United States, making him one of the most powerful businessmen in American history.

Detailed explanation-3: -Standard Oil (in full, Standard Oil Company and Trust) was an American company and corporate trust that from 1870 to 1911 was the industrial empire of John D. Rockefeller and associates, controlling almost all oil production, processing, marketing, and transportation in the United States.