This time period is intriguing for two main reasons:
1) Certain men were able to use loopholes in the laws, as well as their own hard work, to make vast fortunes in new industrial areas
AND
2) Oftentimes, these "titans of industry" used shady business dealings and unfair treatment of their employees to make these fortunes.
For this week's blog, we will focus on the first point.
Spend some time doing your own research on ONE of the following people:
John D. Rockefeller, JP Morgan, Leland Stanford, Cornelius Vanderbilt, Cyrus Field, Jay Gould, Andrew Carnegie, John Jacob Astor, Marshall Field, John Warne Gates, Charles Schwab or Andrew Mellon.
For the comment section
A) Write a 100 word paragraph explaining how this man made his fortune.
B) Write a "Top Ten List" of the most interesting facts you learned about him during your research.
Remember, the total word count must be at least 200 words.
***You may choose the same person as another classmate, but I would like to see each guy covered at least once.***
ReplyDeleteAndrew Carnegie was born on November 25, 1835, in Dunfermline, Scotland, the second of two sons of Will, a handloom weaver, and Margaret, who did sewing work for local shoemakers. In 1848, his family moved to America in search of better economic opportunities. Andrew Carnegie, whose formal education ended when he left Scotland, where he had no more than a few years’ schooling, soon found employment as a bobbin boy at a cotton factory, earning $1.20 a week. During the U.S. Civil War, Andrew Carnegie was drafted for the Army. Rather than serve, he paid another man $850 to report for duty in his place. Andrew was very hard working. He went on to hold a series of jobs, including messenger in a telegraph office and secretary and telegraph operator for the superintendent of the Pittsburgh division of the Pennsylvania Railroad. In the early 1870s, Carnegie co-founded his first steel company, near Pittsburgh. In 1892, his primary holdings were consolidated to form Carnegie Steel Company. In 1901, banker John Pierpont Morgan bought his company at $480 million, making Andrew Carnegie one of the world’s richest men. Carnegie died at age 83 on August 11, 1919. (word count:195)
1.) Andrew was raised in a really poor family.
2.) His family moved to America in the 1840s.
3.) His family lived in only one single room.
4.) For this first job, he was paid $1.20 for working 70 hours.
5.) He didn’t have a good education, but was very hard working.
6.) When he became rich, he spent a high amount of money to build many libraries because he knew he needed to be educated.
7.) Carnegie worked in railroads in 1853.
8.) He invested in different kinds of business sectors such as oil, bridges, steel and iron.
9.) U.S. Steel was established by Carnegie and the banker JP Morgan in 1901.
10.) He became one of the wealthiest men in the world. (word count: 124)
1. The person I chose to write about in the blog this week is Andrew Mellon. His full name is Andrew William Mellon. He helped create the structure of the United States taxes in the 1920’s. After he graduated from Western University he entered his father’s banking business in 1874. Eventually, his father handed the business down to him and he owned it for thirty years. He was all about new technology, so when he heard about the potential of the Aluminum Company of America he invested in them. He also started the Union Steel Company with Henry Frick. Both of these men were involved in the Union Trust Company, which made him most of his money. When he was appointed US Treasure in 1921 the Nation’s debt was $26 billion because of World War 1.
ReplyDelete(word count: 134)
2. He was one of the US’s “foremost” art collectors. He was also one of the reasons why the National Art Gallery was built in WaShington, D.C. He was the Treasure during the Great depression, but the people did not like him very much. He was the Treasure for three US presidents. His family is from Northern Ireland. He did not fight in the Civil War. He cut grass when he was a child. He lived with his father’s sister for a while to go to school because his school closed down. His father was a judge. His brother died in 1862.
(word count: 101)
Andrew Carnegie was a Scottish industrialist. He became one of the wealthiest businessmen in America. He had little formal education. When he was 13 years old, he moved to America with his family. He then worked in a factory in Pennsylvania, earning $1.20 a week. After that, he took a job as a telegraph messenger and operator. Two years later, he worked at the Pennsylvania Railroad. While he worked at the railroad, he began making investments. His investments brought in substantial returns. By the next decade, a lot of Carnegie’s time was dedicated to the steel industry. His business was called Carnegie Steel Company. It changed steel production in America. He used technology and methods that made manufacturing steel easier, faster, and more productive. His business made him very wealthy. (130)
ReplyDelete1. He worked as the assistant and telegrapher to Thomas Scott, one of the railroad's top officials.
2. By 1889, Carnegie Steel Corporation was the largest of its kind in the world.
3. He was known as one of "America's Builders" because his business helped shape the nation into what it is today.
4. In 1901, he sold his business for more than $200 million.
5. He donated $5 million to the New York Public Library so that the library could open more branches.
6. He established the Carnegie Institute of Technology in Pittsburgh.
7. More than 2,800 libraries were opened with his support.
8. He was friends with Mark Twain and Theodore Roosevelt.
9. He wrote several books and articles.
10. He loved traveling.
(115)
I am doing John D. Rockefeller. He was the owner and founder of the Standard Oil Company. He was one of the wealthiest man at the time because his oil company was the biggest and oil was in very high demand back in 1880-1900. It still is now, but it was more valuable then than now. He started investing in Cleveland, Ohio in an oil refinery business in 1863. His Standard Company started in 1870. And by 1890 over 90% of America's oil came from his Standard Company. But in 1911 the US Supreme Court found the oil company in violation of anti-trust laws. During this trial/ acusation Rockefeller was donating 500 million dollars to philanthropic causes. (108)
ReplyDelete1. He was son of a traveling salesman.
2. Was born July 8, 1839 in Richford, New York.
3. He started earning money fairly young. He sold: candy, raising turkeys, and doing odd jobs for his neighbors.
4. 1853 the Rockefeller family moved to Cleveland, Ohio and John attended high school than briefly studied bookkeeping at a commercial college.
5. In 1855 he was 16 and had a job as an office clerk in Cleveland commission firm, bought sold and shipped grain, coal and other commodities.
6. In 1859 Him and a partner started their own commission firm.
7. The same year, America's first oil was drilled in Titusville, Pennsylvania
8. 1863 Him and more partners came into the oil industry by investing in an oil refinery
9. He died in may 23, 1937 in Ormond Beavh, Florida.
10. He had 5 children, 2 boys and 3 girls. (141)
John D Rockefeller was the founder of the Standard Oil Company. He was born in upstate New York in not extremely wealthy circumstances. In 1863 he entered the fledgling oil business by investing in a Cleveland, Ohio, refinery. In 1865 Rockefeller borrowed some money and bought some of the competition in order to take control. In 1870 he established his own business, Standard Oil, which by the early 1880’s had almost off the the U.S. pipelines. His business was started by him and his brothers but soon just became his business. In 1892 all of the oil companies combined and created the Standard Oil Trust. In 1911 Standard Oil was found in violation of the anti-trust laws. Throughout Rockefeller’s life donated more that $500 million to many different causes. (129)
ReplyDelete1. He was not born rich.
2. He was a little entrepreneur.
3. At age 16 he worked as an office clerk in Cleveland, Ohio.
4. Got married to Laura Celestia “Cettie” spellman.
5. He entered a lot of job fairs.
6. Spellman college is named after his wife.
7. He and wife had four daughters.
8. His brothers were actually in on the business with him but he had the most share in the company
9. He was very religious.
10. He was a big golfer. (87)
Total word count: 222
Andrew Mellon was a American financier in the 1920s. After completing his studies at Western University, Mellon entered his father's banking house in 1874 and prove so capable that in 1882 his father transferred the bank's ownership to him. In the next 3 decades Mellon built up a financial industrial empire by supplying capital for Pittsburgh-based corporationd to expand in such fields as aluminum, steel, oil,coal, coke, and synthetic abrasives. Mellon's keen judgment of new technologies and potentially successful firms and entrepreneurs enabled him to help found the Aluminum Company of America and the Gulf Oil Corporation. In alliance with Henry Clay Frick, he helped found the Union Steel Company, which later merged with United States Steel Corporation. He and Frick were also the principal organizers of the Union Trust Company, which became Mellon's principal financial instrument and acquired his family's bank. By the early 1920s Mellon had become one of the richest men in the United States.
ReplyDeleteword count: 158
Delete1. He was a secretary of treasury when Pres. Warren G. Harding in 1921.
ReplyDelete2. His benefactions made possible the building of the National Gallery of Art in Washington,D.C.
3.He was a philanthropist
4.One of the nation's foremost art collectors, Mellon gave a collection valued at $25 million to the U.S. government in 1937.
5.Mellon donated $15 million to build the National Gallery of Art, opened in 1941, to house the collection.
6.He was still head of treasury under presidents Calvin Coolidge and Herbert Hoover.
7.His popularity declined after the Great Depression began in 1929.
8. In 1932 he resigned to serve as U.S. ambassador to England for a year.
9.He reformed the tax structure of the U.S. government in the 1920s.
10.In discussions concerning reduction of the national debt, which totaled about $26 billion in 1920 as a result of World War1 expenditures, Mellon held that continuance of the high wartime tax rates would discourage business expansion and hence reduce revenue.
word count:157
Deleteby Evan Mowery
DeleteAndrew Carnegie made his fortune while being in the steel industry. He entered the steel industry in the early 1870s. He began as a cotton factory worker and made an average of about $1.20 a day or a week in Pittsburgh. He also made a fortune while being a division superintendent at the Pennsylvania Railroad in 1859. He invested in iron and oil companies. He became rich by selling his steel industry to a banker named John Pierpont Morgan and sold it for about some $480 million. Later on, he devoted himself to full-time philanthropy, giving away $380 million. Over the next two decades, Carnegie became a really dominant force in his industry making a lot of money.
ReplyDeleteMy top ten facts about Andrew Carnegie are:
1. Andrew Carnegie was born on November 25, 1835.
2. In 1848, the Carnegie family moved to America in search for better economic opportunities.
3. Andrew Carnegie had switched to different jobs such as being a messenger for a telegraph office, being a secretary for a telegraph office, and being a telegraph operator.
4.in the early 1870s, Carnegie co-founded his first steel company.
5. Over the next few decades, Andrew Carnegie created a steel empire, maximizing and minimizing inefficiencies through ownership of factories and other stuff.
6. Andrew Carnegie hired a general manager to help him named Henry Clay Frick.
7. Andrew Carnegie was on vacation during the strike at the steel mill which was bloody.
8. In 1901, banker John Pierpont Morgan purchased the Carnegie steel company for some $480 million.
9. Andrew Carnegie retired from business and devoted himself to full-time philanthropy.
10. Andrew Carnegie funded the establishment of mire than 2,500 public libraries around the globe.
cornelius vanderbilt, also known as "commodore vanderbilt" made his wealth through owning the new your central raildroad. he is one of the richest americans in history, and also provided most of the money to found Vanderbilt university, in nashville, TN. his net worth in todays money was $215 billion. he was married to Sophia Johnson. he had 13 kids, which he provided for in his early years by running his fairy and steamship. once the goldrush hit in '49, Vanderbilt took his steamboats from being regional to ocean going. he began buying accessory transit and took control of the company.(100 words)
ReplyDelete1. Vanderbilt had 13 kids... all from the same wife
2. Vanderbilt started off with a steamboat and built his business from there
3. vanderbilt funded most of vanderbilt universities founding
4. vanderbilt used andrew jacksons "the poeple's line" to get popularity over a monopoly company
5. the company paid him a large sum of money to move his business elsewhere.
6. vanderbilt's estates are some of the biggest and nicest new york houses of its time
7. vanderbilt would be worth 250$ billion in todays money
8. vanderbilt tried to donate his biggest steam boat to the civil war, but it was turned down
9. the union came to vanderbilt asking fo rhis ship later because they needed it, and he sucessfuly donated it
10. vanderbilts son died after graduation the academy before ever seeing war
238 words
DeleteJohn D. Rockefeller, founder of the Standard Oil Company. Became one of the world’s wealthiest men and a major donor to the needy. me took a big gamble investing into a depleting market but it somehow worked for his favor. In 1870he established Standard oil, and by 1890 he controlled more then 90% of the oil trade, Critics accused Rockefeller of partnering and doing illegal activities with the transporters, such as predatory pricing and colluding with railroads to eliminate his competitors, in order to gain a monopoly in the industry. In 1911, the U.S. Supreme Court found Standard Oil in violation of anti-trust laws and ordered it to dissolve. During his life Rockefeller donated more than $500 million to various philanthropic causes. (123)
ReplyDelete1.His father was a con artist and a bigamist.
2.Every year, Rockefeller celebrated the anniversary of landing his first job.
3.He hired substitute soldiers to avoid Civil War combat.
4.Cleveland was the first epicenter of his oil empire.
5.Rockefeller donated more than $500 million to various philanthropic causes.
6.Spelman College bears the maiden name of Rockefeller’s wife.
7.The court-ordered breakup of Standard Oil made Rockefeller hundreds of millions of dollars.
8.Winston Churchill would have written Rockefeller’s biography—if his price hadn’t been so high.
9.Rockefeller suffered from alopecia and lost all hair from his body and head.
10.Rockefeller lived so long that his life insurance company had to pay him $5 million. (111)
A) Marshall Field started out as a clerk in a dry-goods store to being one of America’s first ingenious businesses of wholesale and retail dry-goods. Marshall was born in 1836 near Conway, Massachusetts. In 1865, he worked for Cooley Wadsworth and Company in Chicago when he was twenty two, and in 1861, he became the general manager and partner of the wholesale dry-goods firm.When Potter Palmer (an entrepreneur and real-estate developer) retired, the organization became Marshall Field and Company run directly by him. When Marshall Field died on January 16, 1906, the store covered 36 acres over 11 blocks of Chicago. Being the largest establishment of its kind. ( word count: 112)
ReplyDeleteB)
The Field enterprise was highly diversified. It sold wholesale dry goods through a sales force reaching small stores all over the Midwest; manufactured dry goods in factories in the British Isles, France, and elsewhere.
2. had its own buying offices all over the world; and operated its retail department store, Marshall Field and Company, in Chicago.
3.He introduced the one-price system, bought and sold for cash, and permitted exchange of goods
4. His sales grew from $12 million in 1868 to $68 million in 1906.
5. when he died, half of his fortune, estimated to be between $100 million and $150 million.
6. when he died, half of his fortune, estimated to be between $100 million and $150 million.
7. He helped found the Art Institute, donated the land on which the first buildings of the University of Chicago were erected.
8.He also contributed $1 million for the museum at the World's Columbian Exposition.
9. In addition to gifts during his lifetime his $8-million bequest built the Field (later Chicago) Museum of Natural History.
10. When Field died on Jan. 16, 1906, the store covered some 36 acres over 11 Chicago blocks, the largest establishment of its kind. (word count: 200)
Throughout his life, Andrew Carnegie became a very wealthy man. It all started when he was young, working as a telegraph messenger boy. He worked very hard and became a Superintendent of the Military Railways and the Union Government's telegraph lines at Pennsylvania Railroad Company. He invested wisely in stock, also. After the Civil War, he left the railroad business to focus solely on the steel and iron industry. Eventually, Carnegie Steel Company came into existence. His company continued to grow, and he soon realized that he could own every aspect of the steel industry. He no longer bought things from other companies but bought those companies to make things for him. The company soon became known as U.S. Steel Corporation.
ReplyDelete121 words
1. Wealthiest man in the world at the start of the 20th century
2. From Scotland
3. Son of a weaver
4. Died of bronchial pneumonia
5. His wife was 21 years younger than him
6. He established the Carnegie-Mellon University in 1904
7. Came to the United States at the age of 13
8. Little formal education
9. Donated over 30 million dollars to charities
10. Owned almost all of his competition
Jay Gould realized at a young age that he did not want to work on a farm like his father. He taught himself surveying and mathematics. At 16, he started a survey business. Between the ages of 18 and 21, he prepared maps of New York’s southern counties. Gould invested 5,000 and a opened a business tanning leather in northern Pennsylvania at 21. He became a leather merchant in 1860. He was able to master the art of managing a business, of stock trading, and manipulation. He traded in stocks of his own companies, using banks he associated with, while bribing legislators and judges.(105)
ReplyDelete1.He was able to start a business at 16 years old.
2.In 1853, he was offered half interest in blacksmith shop he was working in, which he sold to his father and moved to New York.
3.He surveyed Ulster, Albany, and Delaware counties of New York and created maps of that region.
4.By 21, he opened a leather tannery in northern Pennsylvania with a partner.
5.He launched the Erie on an expansion campaign that increased its national debt.
6.He then traded in the Erie stock, sold it short, and made a killing before it went bankrupt.
7.He became one of the shrewdest business men in American industry.
8.He lost his fortune at one point, but later gained it back in 1871.
9. He left an estimated $77 million to his son when he died.
10.He became manager of The Rennsalaer and Saratoga railway .(143)
A. Cornelius Vanderbilt was a interesting man from how he became so wealthy it started when he was younge when born his dad owned his own ferry business. When Cornelius was 16 he borrowed $100 from his mom and him and his dad combined they're business and from there they half they're money between them and from there Cornelius used his ferry for cargo and made more money. Some years later he built New York central railroad and made his money from there and then later on in life he built vanderbelt university in nahshville Tennessee. 101.
ReplyDeleteB.
1.married his 1st cousin
2.had 13 children
3.born in New York station island
4. Had a very mediocre education
5 almost got into a train wreck with john Quincy Adams on board
6. Named commander
7. Very rich person when died
8. The university of Vanderbilt named afternoon him
9. Took over Harlem in the stock market
10 born poor
Andrew Carnegie is the one I chose. Andrew Carnegie was born in Dunfermline, Scotland. At only age 13, him and his family had moved over to the United States. They moved to try and find a better economy. When they moved over from Scotland, Andrew's education had ceased. Andrew started working at a factory when they came, and only got paid $1.20 per week. The next year however, he had found another job as a telegraph messenger. Two years later, he took a job at the Pennsylvania Railroad. Three years after being the assistant to the head, Thomas Scott, he was promoted to the superintendent. Nine years later, he had left the railroad to start committing to other businesses. By the end of the 1860's, he was dedicated to the steel industry. By 1889, the Carnegie Steel Corporation was the best of its' type. (144)
ReplyDelete1) Started out in a very poor family
2) Had very little education
3) Learned everything that he knew from experiences
4) In 1901 he sold his company
5) After he sold his company he went into philanthropy
6) Donated $5 million to the New York Library
7) Sold his company for $200 million
8) Established the Carnegie Institute of Technology in Pittsburgh, Pennsylvania
9) More than 2,800 libraries were opened because of his donations
10) He was friends with Mark Twain and Theodore Roosevelt (219 total)
Andrew Carnegie made his fortune from his rapid growth in the steel industry. He also became a major philanthropist which accounted for a lot of his money. But his main way of gaining wealth was from his steel industry. Carnegie started out as a boy working in a cotton factory, and from there worked his way up to superintendent of the Pennsylvania Railroad in 1859. While working at the railroad, Carnegie invested in several different things. These investments that put him on the track to wealth were: iron and oil companies. He eventually sold the Carnegie Steel Compay for $480 million. After this he took up philanthropy and gave away about $350 million. (113)
ReplyDelete1. Son of a weaver
2. Rose from cotton boy to one of the richest men in America
3. Father of steel
4. Didn't agree with lack of education in society
5. got typhoid reaver when found out his brother died
6. Established Carnegie-Mellon University in 1904
7. Owned largest steel mill in 1889
8. Even thoug he had little education, believed strongly in books, and learning
9. After making millions of dollars he used it to build libraries
10. He gave $30 million to charity when he died
John D. Rockefeller was a very interesting man. He was also a very rich man. In fact, he was probably the richest man in American history. He was one of the richest men in modern history. He was raised by a religious mother, and a father who was a con. John D. Rockefeller made his historic fortune with oil. He was a great businessman and went in as a book keeper at the age of 16 and earned 50 cents a day. He was born on July 8, 1839 and died on May 23, 1937. He currently has a net worth of 400 billion dollars. (105)
ReplyDelete1. He was the richest american to ever live.
2. He started his business career at age 16
3. He came from a middle class house hold
4. He lived in Cleveland Ohio.
5. He made his money in oil and built on that with business in other things.
6. He wanted to live to 100 years old but lived to the age of 97
7. He was an amazing business man.
8. One of his goals in life was to earn $100,000 and he well surpassed that.
9. He was a republican.
10. He controlled 90% of the oil in America at a point in time.
Ross Adams
John D. Rockefeller was born on July 8, 1839. He made many achievements and achieved many milestones that an average American cannot achieve. Rockefeller became one of the most richest men in the world. He was the founder of Standard Oil co. He started out investing in oil companies. He invested in a Cleavland, Ohio oil refinery in 1863, and founded the Standard Oil Company in 1870. This company controlled 90 percent of the U.S refineries in the 1880's. John D. Rockefeller devoted himself fully to philanthropy by 1897. He also made the founding of the University of Chicago possible by donating 35 million dollars. (105)
ReplyDelete1) John D. Rockefeller was one of the most wealthiest men in the world.
2) John D. Rockefeller was a Baptist and a devout philanthropist.
3) John D. Rockefeller's benefactions were about five hundred million during his lifetime.
4) John D. Rockefeller helped establish the University of Chicago.
5) John D. Rockefeller established many philanthropic institutions.
6) John D. Rockefeller' s net worth would be about 392 billion dollars in today's economy.
7) John D. Rockefeller was not liked that much among the American people.
8) The companies BP, Exxon Mobil, and Chevron were all because of Standard Oil.
9) Standard Oil was forced to break into several companies because it was ruled a monopoly.
10) John D. Rockefeller lived until he was 97 years old.
(126)
Cornelius Vanderbilt first made his fortune with Steamboats. He went into the business on his own and started building steamships and operating ferry lines throughout the New York region. He was very aggressive and began fare wars with his rivals. His competitors paid him a lot of money to not to compete with them. In the 1850s, he established a steamship service that took people from New York to San Francisco. This netted him 1 million dollars each year, which is about 26 million in todays money. He then gained control of lines operating between Chicago and New York, and integrated the system.
ReplyDelete1. He established vanderbilt University
2. His nickname is the “Commodore” because of how fierce he is.
3. When Vanderbilt died, he was worth over 100 million dollars
4. As a boy, he worked with his father ferrying boats between Staten Island and Manhattan.
5. He is a descendant of Dutch settlers
6. During the U.S. Civil War, Cornelius Vanderbilt donated his largest and fastest steamship, named the Vanderbilt and built for around $1 million, to the Union Navy. The vessel was used to chase down Confederate raiders.
7. He married his cousin and they had 13 children together.
8. When his wife died, he married another female cousin, who was more than 40 decades younger than him
9. Left most of his fortune to his son William
10. Vanderbilt died at age 82 on January 4, 1877
(242)
1. Andrew Carnegie moved to the US when he was 13.
ReplyDelete2. Carnegie though he would be a hand loom worker like his father when he grew up.
3. Carnegie taught himself to listen to Morse code and understand what it said.
4. Carnegie worked in a button factory as a small child.
5. Carnegie made a promise to not marry until after his mother passed (which he kept).
6. Carnegie gave away 90 percent of his money before he died.
7. Carnegie built tons of libraries around America for charity.
8. Carnegie believed you should spend the first part of your life making money, and the second half giving it away.
9. He sold his company for 480 million dollars to J. P. Morgan.
10. When Morgan bought the company from Carnegie he congratulated him on being the richest man in the world.
Words:133
Andrew Carnegie was born in Scotland. He and his family moved to Pittsburg when he was 13 because his fathers hand loom business was overtaken by machines. Carnegie worked in a factory at a young age just to put food on the table. He read many books and educated himself and he eventually got a better job as a telegraph worker. Carnegie studied Morse code until he became so good at recognizing the code that he could listen to it and translate it without looking at a translation chart. Carnegie was noticed by Thomas Scott, a top executive at the PA railroad. Scott took Carnegie under his wing when he saw how much potential he had. Carnegie learned a ton of business and investment information from working with Mr.Scott. Carnegie then took all that information and wisdom, saw an opportunity and took it. Carnegie knew how big steel would become in the railroad industry, but he didn't know how many other uses steel would also have. Carnegie started his first steel factory and it exploded (not literally). Carnegie found a way to vertically monopolize his business. He bought out his resources and transportation and employed lots of workers for cheap. Carnegie's business grew and grew with the help of his many years of experience working for Tom Scott. The Carnegie Steel company was sold to J.P. Morgan for 380 million dollars, making Carnegie the richest man in the world at 65 years old. Carnegie spent the rest of his life giving back by donating money to charities and building public libraries. He died at age 84 and had given away 90% of his money.
Words:277
Founder of the Standard Oil Company, John D. Rockefeller was born in upstate New York. His family was by no means wealthy though. He became one of the worlds wealthiest men. In 1863 he joined the oil business by investing in a Cleveland, Ohio oil refinery. By 1870 he established standard oil.
ReplyDeleteHe later controlled 90 percent of U.S. refineries and pipelines.
Some say Rockefeller made shrewd business decisions. Some also say through illegal practices Rockefeller grew to be a gargantuan monopoly.
At its peak standard oil had about 90 percent of Refined oil in the United States. At age 74 Rockefeller's wealth peaked at $318.3 billion dollars. (110words)
1)John's father was a con artist
2)Rockefeller celebrated the day he got his first job.
3)Cleveland was the first "epic center" for Rockefellers oil empire.
4)Rockefeller donated more than $500 million to various philanthropic causes.
5) the African-American women’s school changed its name to Spelman Seminary in honor of his wife, Laura, and her parents.
6)Rockefeller became the country’s first billionaire with a fortune worth nearly 2 percent of the entire American economy.
7)Winston Churchill would have written Rockefeller’s biography.
8)Rockefeller suffered from alopecia and lost all hair from his body and head.
9)Rockefeller lived so long that his life insurance company had to pay him $5 million.
10)Rockefeller lived to be 97 years old. (115words)
John D. Rockefeller was regarded as one of the most wealthy people of all time. Hew as born into a large family and started his first business partnership at the age of 20. He soon went into the oil industry. His company Standard Oil was broken into 34 pieces because he was breaking anti trust laws. Rockefeller at one point was in control of about 90 percent of all oil in the United States. He soon became the first billionaire in the United States. He spent the last 40 years of his life in retirement.
ReplyDelete1. He controlled 90 percent of all the oil in America.
2. Became the first billionaire in the United States.
3. His fortune was worth almost 2 percent of the national economy.
4. His fortune in today's money value would be over 336 billion dollars.
5. John R. Was a devout northern baptist.
6. His business standard oil was broken up into over 30 pieces because it broke anti trust laws.
7. He revolutionized the petroleum industry.
8. Abstained from tobacco and alcohol his whole life.
9. Founded The University of Chicago and Rockefeller University.
10. Religion was a guiding force in his life, he was also a philanthropist.
Words 205
On July 8th 1839 John D. Rockefeller was born to a Conman father and a baptist mother. He started working at the age of 16 in he's church Erie Street baptist Mission church in Cleveland. When he was 31 he built his first oil refinery. And buy the time he was 43 he had a monopoly on the oil industry.
ReplyDeleteHe was the first ever billionaire and he still is known as one of the richest men to live. His oil company “Standard Oil” took up about 90% of all the oil industry. In Cleveland alone he owned 22 out of 26 companies in the oil industry. In today's terms he would be estimated to worth somewhere around $300-$400 billion dollars.
But John was also a very generous man. It is said that he gave away over a half a billion dollars to missions, church's and colleges. No one could make more money then him and no one could give more then him.
1. With modern inflation he was worth about 300-400 billion dollars
2. Invested in kerosene production
3. He had a monopoly on the oil industry
4. Had so much money that the government was easily bribed
5. By the 1870s standard oil held about 90% of oil shares
6. Worked at Erie Street baptist Mission church in Cleveland
7. Father was a conman
8. During his life gave away over $500M
9. His life insurance policies payed out to $5M
10. Owned 22 out of 26 companies in Cleveland alone
(253 words)
John Pierpont Morgen or J.P. Morgen, made his fortune by going into the business of his father. His father was into the banking business Morgen took it over the business in 1850s. He formed a business deal with Philadelphia banker Anthony Drexel. Today the partnership is know as the J.P.Morgen and company or JPMorgen Chase. He was helped financial of New York. When Morgen was alive their was no bank so he helped that out by using what he had to help the nation thur some financial problems the country went thur. He might helped the city of New York but he was only in for it for the money. He used his wealth for a really good art collection.(120)
ReplyDeleteInteresting facts about Morgen
1) One of maternal relatives was one of the founders of the Yale University.
2) He learned German and French when he was Europe.
3) He married Amelia Sturges but she died four mouths later after.
4) In 1865 she married Frances Tracy.
5) Frances and Morgen had 4 children later.
6) He was booked to go on Titanic but had to cancel.
7) He also owned most of the rail lines
8) He died at age 75 on March 31,1913.
9) He died in Rome, Italy.
10) He he died the New York Stock Exchange closed in honor of him the day of funeral.(109)