Arguably the richest man ever lived John Rockefeller was an industrialist, oil business magnate, and philanthropist. The wealthiest American of all time’s wealth is said to be triple of Bill Gates. Here is a quick summary of John Rockefeller’s net worth, career and earnings.
John was born on 8th July 1839 in Richford, New York but he had to move with his family to Cleveland, Ohio when he was only 14 years old. He had a great business mind when he was in his teens as he started a lot of small businesses at that time before joining Hewitt & Tuttle as an assistant bookkeeper at the age of 16.
John did go a long way in his work when he was only 20. He started to work as a commission merchant in meats, hay, grains, and other goods. The company which he started had a gross income of $450,000 in its very first year.
In the early 1860’s, John thought of making it big in the oil industry. He opened his first refinery at Cleveland, a short distance from Pittsburgh in 1863. It was a huge success and within 2 years it became the biggest in the whole area and made John think of becoming a full-time oil businessman.
John started Standard Oil Company in 1870 with his associates which was an instant success. Rockefeller’s hard work and hunger for success made the company bigger every day. Standard Oil Company started to buy other small oil companies to have complete monopoly over the business. When it became huge in size and also economically, Standard Oil Company made deals with railroads to ship its oil. They started to buy pipelines too. Now Standard Oil Company has a grip over every aspect of the oil business with no competitors.
Standard Oil Company became the first American monopoly under John Rockefeller within a decade and also started to spread their business across the world. John was associated with many charitable endeavors after his retirement from the one of the world’s largest business.
Awards & Achievements
There is no such information regarding the awards received by John Rockefeller. Though he achieved a lot as the founder of Standard Oil Company, which had a monopoly in oil business across America.
Net Worth of John Rockefeller
The man who is said to be the wealthiest American of all time has a net worth of around $340 billion. Alone in the year 1914, he earned $58,000,000 from his various investments. Still, now his family is very rich and considered as the 22nd richest family in America.
John suffered from digestive troubles and depression while he was 50. Struggling with alopecia, he lost all his body hair in 1890. He did a lot of treatment but his hair never comes back. He had to shed his workload for health problems.
On 23rd may 1937, John died of arteriosclerosis at his home in Ormond Beach, Florida just before his 98th birthday. Lake View Cemetery is the place, where he is buried in Cleveland.