USA HISTORY

Detailed explanation-1: -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. He made possible the founding of the University of Chicago and endowed major philanthropic institutions.

Detailed explanation-2: -Standard Oil dominated the oil industry, controlling roughly 90% of the refineries and pipelines in the United States by the early part of the 1880s. While he has faced some criticism historically for how he accumulated his wealth, Rockefeller’s charitable efforts paint him as a philanthropic captain of industry.

Detailed explanation-3: -John D. Rockefeller formed the Standard Oil Company on January 10, 1870 with his business partners and brother. The success of this business empire made Rockefeller one of the world’s first billionaires and a celebrated philanthropist. He garnered both admirers and critics during his lifetime and after his death.

Detailed explanation-4: -Rockefeller. John D. Rockefeller made his immense riches from monopolizing America’s oil industry. Conspiring with refinery owners, he helped found what became known as the Standard Oil monopoly.