JOHN D ROCKEFELLER: A Boy Who Became The Most Powerful Oil Marchant That Ever Lived. [1839 - 1937]

“Rockefeller insight place him steps ahead of his competition, he believed that while gamblers drilled for oil, businessmen refined oil.”

“John D Rockefeller was a businessman who emerged as one of the men with largest fortune in history. He controlled 90% of the America oil industry and at the time of his death he worth between 300 to 400 billion dollars.”

John D Rockefeller was born into a family of six children as the first child in 1839 at Richford, New York. Rockefeller schooled at Cleveland Central High School for a while then dropped out and took one business in accounting class with this certification he worked as a book keeper at Hewett and Tuttle when he was only 16 years of age. At this period, he leant more about businesses and became fixated to finding an idea and taking a chance.

During the early stages of the discovery of crude oil, 24-year-old Rockefeller realized crude oil has the potential to change the world and also make him wealthy in the process, he had the brilliant idea of taking advantage of this oil rush by building an oil refinery in Cleveland Ohio.

At the age of 27, Rockefeller was still operating at the early stage of his refinery and his company was on the verge of bankruptcy. The richest man at that time, Cornelius Vanderbelt needed cargos to fill his train, an exclusive deal to ship Rockefeller’s oil was all he needed and to the young Rockefeller the deal was an opportunity of a life time, a way to save his company from complete collapse. When this deal was closed, Rockefeller didn’t even have the capacity of producing half of the demanded quantity but as he would always say “failure is not an option.”

The oil industry was expanding rapidly and due to high demand, many manufacturers were releasing substandard petroleum products to the market and this caused distrust on the product because this product burnt down houses and got a bad name in the public. Rockefeller didn’t see it as a problem but as a good business opportunity, he realized that there was a need to calm the public fear of petroleum and provide them with a product they could rely on, this idea paves the way to STANDARD OIL. Standard oil ensured uniform petroleum product which guaranteed the consumer’s safety. Standard oil became the most sought-after petroleum product and this became a big threat to his competitors. With all these progresses he was able to meet up with the deal he signed with Cornelius Vanderbelt. Rockefeller, once unable to fill Vanderbelt’s trains, but now had more oil that the railroad couldn’t possibly carry. With his profits he started buying off other oil refineries hereby building a MONOPOLY. ?At the time he was finished, he owned 90% of the oil industry and became United State of America first monopolist though he was still in his 30’s, the Ohia man became the most powerfully man in America.

Vanderbelt and other train rail merchants who takes care of the transportation of Rockefeller’s oil teamed up against him to increase the price of transportation per barrel. Rockefeller, yet again didn’t consider it as a problem rather as an opportunity to maximize his profit, Rockefeller had to device a new means of transporting his oil; Rockefeller was able to cut off the railway completely from the oil business for good and in the process revolutionized the way oil was transported; The introduction of OIL PIPELINES. John D Rockefeller’s business grew from height to greater height.

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