He also had a deep love of music and dreamed of it as a possible career. [37] Rockefeller received $16 a month for his three-month apprenticeship. Between John and William Jr.'s births, Bill and Nancy had a daughter Cornelia. "[142] By the time of his death in 1937, Rockefeller's remaining fortune, largely tied up in permanent family trusts, was estimated at $1.4 billion, while the total national GDP was $92 billion. I had the pleasure of knowing David Rockefeller for some 40 years, initially in the formal way that a young curator at the Museum of Modern Art would know a distinguished trustee, but increasingly closely over the years. Morrow claimed that he had been found by his chauffeur, who had called the police, that Rockefeller was checked into the hospital at 11:15 p.m., and that he had died at 12:20. One time, he paid for a slave's freedom and donated to a Roman Catholic orphanage. [121] In keeping with the historic missions of the Baptists, it was especially active in supporting black schools in the South. Standard Oil adapted by developing a European presence, expanding into natural gas production in the U.S., and then producing gasoline for automobiles, which until then had been considered a waste product. In fact, a trust was created, as well as several other entities designed to manage the family money, all to ensure that Rockefeller's descendants continue to live as only Rockefellers can. However, as the press pointed out yet again, there were holes in Morrow’s tale. "[111], Rockefeller and his advisers invented the conditional grant, which required the recipient to "root the institution in the affections of as many people as possible who, as contributors, become personally concerned, and thereafter may be counted on to give to the institution their watchful interest and cooperation".[112]. [113] His wife Laura Spelman Rockefeller, was dedicated to civil rights and equality for women. With or with out Rockefeller, eugenics has reached the âfinal frontierâ and is knocking at our door as explained by James Corbett in this excerpt from an article published in The Last American Vagabond Striking miners were forced to abandon their homes in company towns and lived in tent cities erected by the union, such as the tent city at Ludlow, a railway stop north of Trinidad.[95]. She documented the company's espionage, price wars, heavy-handed marketing tactics, and courtroom evasions. [121] Rockefeller also provided financial support to such established eastern institutions as Yale, Harvard, Columbia, Brown, Bryn Mawr, Wellesley and Vassar. [141] According to his New York Times obituary, "it was estimated after Mr. Rockefeller retired from business that he had accumulated close to $1,500,000,000 out of the earnings of the Standard Oil trust and out of his other investments. "[24] Unshackled by conventional morality, he led a vagabond existence and returned to his family infrequently. I was early taught to work as well as play, Coal had previously been used to extract kerosene, but its tedious extraction process and high price prevented broad use. [19] For advice, he relied closely on his wife Laura Spelman Rockefeller with whom he had five children. [11] His fortune was mainly used to create the modern systematic approach of targeted philanthropy through the creation of foundations that had a major effect on medicine, education, and scientific research. Why had it taken an hour for Rockefeller to get to the hospital? [134][135] It would be Rockefeller's winter home during the latter part of his life. [95], The casualties suffered at Ludlow mobilized public opinion against the Rockefellers and the coal industry. A major New York refiner, Charles Pratt and Company, headed by Charles Pratt and Henry H. Rogers, led the opposition to this plan, and railroads soon backed off. Finally, Morrow released a third statement, in which he claimed he had just learned that Rockefeller’s young assistant was present at the time, and had been the one to call 911, but that was the extent of her involvement and she was now out of town and unavailable for questioning. Most failed, but those who struck oil did not even need to be efficient. Johann Peter Rockenfeller (baptized September 27, 1682, in the Protestant church of Rengsdorf) immigrated in 1723 from Altwied (today a district of Neuwied, Rhineland-Palatinate) with three children to North America and settled down in Germantown, Pennsylvania. He was buried in Lake View Cemetery in Cleveland. Rockefeller was also given the duties of collecting debts when Hewitt instructed him to do so. If they refused his offer, he told them he would run them into bankruptcy and then cheaply buy up their assets at auction. He complained that he could not stay asleep most nights. The cartel offered preferential treatment as a high-volume shipper, which included not just steep discounts/rebates of up to 50% for their product but rebates for the shipment of competing products. [58] While competitors may have been unhappy, Rockefeller's efforts did bring American consumers cheaper kerosene and other oil by-products. It changed its name to Rockefeller University in 1965, after expanding its mission to include graduate education. Continuing to apply his work ethic and efficiency, Rockefeller quickly expanded the company to be the most profitable refiner in Ohio. Paramedics brought Rockefeller to the Lenox Hill Hospital, where he was checked in at 11:15 PM and pronounced dead at 12:20 AM. Billy the Kid is one of the most notorious Wild West outlaws. Full of work and full of play— It had become the richest, biggest, most feared business in the world, seemingly immune to the boom and bust of the business cycle, consistently making profits year after year. In the early 1880s, Rockefeller created one of his most important innovations. Rockefeller had only $800 saved up at the time and so borrowed $1,000 from his father, "Big Bill" Rockefeller, at 10 percent interest. Furthermore, Rockefeller gained enormous influence over the railroad industry which transported his oil around the country. On January 26, 1979, at 12:20 AM, former Vice President Nelson Rockefeller died from a heart attack while sitting at his desk at Rockefeller Center, working on a book about his personal art collection. I only know he conceived the idea. This meant talking to him a lot about art and other things, and enjoying the Martinis he mixed himself â up, with a mint leaf â that I have never drunk anywhere else. Genealogy for James Stillman Rockefeller, Jr. (1926 - 1988) family tree on Geni, with over 200 million profiles of ancestors and living relatives. We correct them as soon as they come to our knowledge. Instead of using his father's method of presence to collect debts, Rockefeller relied on a persistent pestering approach. while Rockefeller was busy editing his book from inside his office in Rockefeller Center. He felt at ease and righteous following Methodist preacher John Wesley's dictum, "gain all you can, save all you can, and give all you can. [21][22], Rockefeller was the second child born in Richford, New York, to con artist William Avery "Bill" Rockefeller and Eliza Davison. "[51] He was well-positioned to take advantage of postwar prosperity and the great expansion westward fostered by the growth of railroads and an oil-fueled economy. Throughout his life, Bill was notorious for shady schemes. The union was forced to discontinue strike benefits in February 1915. His General Education Board made a dramatic impact by funding the recommendations of the Flexner Report of 1910. He was an excellent debater and expressed himself precisely. A devout Northern Baptist, Rockefeller would read the Bible daily, attend prayer meetings twice a week and even led his own Bible study with his wife. He is widely considered the wealthiest American of all time[4][5] and the richest person in modern history.[6][7]. Early in his life, he regularly went with his siblings and mother Eliza to the local Baptist church—the Erie Street Baptist Church (later the Euclid Avenue Baptist Church)—an independent Baptist church which eventually came to associate with the Northern Baptist Convention (1907–1950; modern American Baptist Churches USA). For many of his competitors, Rockefeller had merely to show them his books so they could see what they were up against and then make them a decent offer. [64] The railroad, seeing Standard's incursion into the transportation and pipeline fields, struck back and formed a subsidiary to buy and build oil refineries and pipelines. [8] That was his peak net worth, and amounts to US$418 billion (in 2019 dollars; inflation-adjusted). Ohio was especially vigorous in applying its state antitrust laws, and finally forced a separation of Standard Oil of Ohio from the rest of the company in 1892, the first step in the dissolution of the trust. Then he took a ten-week business course at Folsom's Commercial College, where he studied bookkeeping. The oldest existing building on Spelman's campus, Rockefeller Hall, is named after him. If we absorb them, it surely will bring up another. Wikimedia CommonsNelson Rockefeller hanging off the back of a car while on the Presidential campaign trail. Udo Hielscher: Historische amerikanische Aktien, p. 68 - 74, Laughlin, Rosemary. Then, take a look at this photo of Rockefeller Center from 1933. In the aftermath, Rockefeller's control over the oil industry was somewhat reduced but over the next 10 years, the breakup also proved immensely profitable for him. Second son, Nelson Aldrich Rockefeller, was Republican governor of New York and the 41st Vice President of the United States. She attempted to resuscitate him, and called a friend of hers, news reporter Ponchitta Pierce, to come help her. [72] Its share of world oil refining topped out above 90% but slowly dropped to about 80% for the rest of the century. Rockefeller finally gave up his dream of controlling all the world's oil refining; he admitted later, "We realized that public sentiment would be against us if we actually refined all the oil. They had four daughters and one son together. [46] This created an oil-drilling glut, with thousands of speculators attempting to make their fortunes. Even more critical, the invention of the light bulb gradually began to erode the dominance of kerosene for illumination. It added its own pipelines, tank cars, and home delivery network. Like President Bush or Count Kalergi, he was party to a soul contract. [citation needed] [citation needed], His mother was deeply religious and disciplined, and had a major influence on him in religious matters. The Rockefeller Archive Center, an independent foundation that was until 2008 a part of Rockefeller University, is a vast three-story underground bunker built below the Martha Baird Rockefeller Hillcrest mansion on the family estate at Pocantico (see Kykuit). [41] Rockefeller went steadily ahead in business from there, making money each year of his career. It was not meteor-like, but accomplished over a quarter of a century by courageous venturing in a field so risky that most large capitalists avoided it, by arduous labors, and by more sagacious and farsighted planning than had been applied to any other American industry. [74], Although 85% of world crude production was still coming from Pennsylvania in the 1880s, oil from wells drilled in Russia and Asia began to reach the world market. This touched off a firestorm of protest from independent oil well owners, including boycotts and vandalism, which led to the discovery of Standard Oil's part in the deal. His father was of English and German descent, while his mother was of Scots-Irish ancestry. That orderly, economic, efficient flow is what we now, many years later, call 'vertical integration' I do not know whether Mr. Rockefeller ever used the word 'integration'. [76] Additional fields were discovered in Burma and Java. He would describe the University of Chicago as “the best investment I ever made.” He also gave a grant to the American Baptist Missionaries foreign mission board, the American Baptist Foreign Mission Society in establishing Central Philippine University, the first Baptist and second American university in Asia, in 1905 in the heavily Catholic Philippines.[118][119][18][16][17]. Pennsylvania revoked the cartel's charter, and non-preferential rates were restored for the time being. Erfinder mit Feinden: Nicht nur der Öl-Millionär John D. Rockefeller hatte Rudolf Diesel zu seinem "Todfeind" erklärt, weil die Dieselmotoren ohne sein Petroleum liefen. Sie regt zum Nachdenken an, für freigeistiges Weiterkommen. Shortly before 11 PM, on January 26, Nelson Rockefeller collapsed at his townhouse in Midtown Manhattan. He was allegedly influenced[dubious – discuss] by a meeting in 1893 with Swami Vivekananda, who urged him to use more of his philanthropy to help poor and distressed people. In these negotiations, he learned that posted transportation rates that were believed to be fixed could be altered depending on conditions and timing of freight and through the use of rebates to preferred shippers. Nine trustees, including Rockefeller, ran the 41 companies in the trust. [97] When testifying on the Ludlow Massacre, and asked what action he would have taken as Director, John D. Rockefeller Jr. stated, "I would have taken no action. A good measure, pressed down, shaken together and running over, will be poured into your lap. It was broken up into 34 separate entities, which included companies that became ExxonMobil, Chevron Corporation, and others—some of which still have the highest level of revenue in the world. A Baptist preacher once encouraged him to "make as much money as he could, and then give away as much as he could". Before 1870, oil light was only for the wealthy, provided by expensive whale oil. [15], Rockefeller was also the founder of the University of Chicago and Rockefeller University and funded the establishment of Central Philippine University in the Philippines. “I wanted to go in the army and do my part,” Rockefeller said. Rockefeller's wealth soared as kerosene and gasoline grew in importance, and he became the richest person in the country, controlling 90% of all oil in the United States at his peak. [4] According to some methods of wealth calculation, Rockefeller's net worth over the last decades of his life would easily place him as the wealthiest known person in recent history. Therefore, Rockefeller has been fighting against the Emperor of Japan, so WW2 was fight between the Emperor of Japan (Rothschild and Li) and Rockefeller(and other Li). In full retirement at age 63, Rockefeller earned over $58 million in investments in 1902. [95][96] Costs to both mine operators and the union were high. As he was one of the most distinguished men in the country and a former Vice President of the United States and Governor of New York, it’s no wonder that Rockefeller family spokesman Hugh Morrow fudged the truth when it came to the shady circumstances of Nelson Rockefeller’s death. [78] In 1887, Congress created the Interstate Commerce Commission which was tasked with enforcing equal rates for all railroad freight, but by then Standard depended more on pipeline transport. It turned out, for a spokesman, Morrow was pretty careless when it came to lining up the details of the evening. “I don’t know what Megan’s role was exactly,” he said, “but if she was involved with Grandaddy, I hope she did the best she could and that she was instrumental in some of his success.”. Clark initiated the idea of the partnership and offered $2,000 towards the goal. He truly believed in the biblical principle found in Luke 6:38, "Give, and it will be given to you. In total Rockefeller donated about $550 million. Nun ist Milliardär David Rockefeller gestorben. Rockefeller died two days ago at the age of 101, and this news shocked the world. [citation needed], Rockefeller created the Rockefeller Foundation in 1913[125] to continue and expand the scope of the work of the Sanitary Commission,[120] which was closed in 1915. [16][17][18] He was a devout Northern Baptist and supported many church-based institutions. He instinctively realized that orderliness would only proceed from centralized control of large aggregations of plant and capital, with the one aim of an orderly flow of products from the producer to the consumer. The companies' combined net worth rose fivefold and Rockefeller's personal wealth jumped to $900 million. By then the trust still had a 70% market share of the refined oil market but only 14% of the U.S. crude oil supply. [53][54] Rockefeller, Andrews & Flagler was the predecessor of the Standard Oil Company. As my friend, Andrea Davison, formerly of British military intelligence, has told me: satanists have a thing about being done in by their own. Flagler expanded it to accommodate 600 guests and the hotel soon became one in a series of Gilded Age hotels catering to passengers aboard Flagler's Florida East Coast Railway. [citation needed], Pratt and Rogers became Rockefeller's partners. He bought a residence in 1884 on 54th Street near the mansions of other magnates such as William Henry Vanderbilt. There was destitution in the coalfields. The Rockefeller wealth, distributed as it was through a system of foundations and trusts, continued to fund family philanthropic, commercial, and, eventually, political aspirations throughout the 20th century. [43] While his brother Frank fought in the Civil War, Rockefeller tended his business and hired substitute soldiers. Rockefeller revolutionized the petroleum industry and, through corporate and technological innovations, was instrumental in both widely disseminating and drastically reducing the production cost of oil. [140], His wealth continued to grow significantly (in line with U.S. economic growth) as the demand for gasoline soared, eventually reaching about $900 million on the eve of the First World War, including significant interests in banking, shipping, mining, railroads, and other industries. [122] It claims a connection to 23 Nobel laureates. In 1864, Rockefeller married Laura Celestia âCettieâ Spelman.He had this to say about his wifeâs contribution to his success: â Her judgment was always better than mine. The Spelman Family, Rockefeller's in-laws, along with John Rockefeller were ardent abolitionists before the Civil War and were dedicated to supporting the Underground Railroad. [87] The court ruled that the trust originated in illegal monopoly practices and ordered it to be broken up into 34 new companies. Fourth son Winthrop Aldrich Rockefeller served as Republican Governor of Arkansas. He said later, "Her judgment was always better than mine. Ponchitta Price had called the police, not Marshack, and furthermore, one news outlet had gotten in contact with Marshack shortly after Rockefeller’s death, and she had admitted to being in New York City. Analysen grundlegender Thematiken, die der Lobbyisten-gelenkte mediale Mainstream seinen Lesern, Zusehern u Zuhörern - also GEZ-Zahlern - oder allgemeinhin dem per System-Order verdummt werdenden ⦠In the aftermath of that battle, the Commonwealth of Pennsylvania indicted Rockefeller in 1879 on charges of monopolizing the oil trade, starting an avalanche of similar court proceedings in other states and making a national issue of Standard Oil's business practices. His personal wealth was 900 million in 1913 worth 21 billion dollars adjusted for inflation in 2016. Famously money-hungry, John D. spoke admiringly of his fatherâs piles of ⦠Economic historian Robert Whaples warns against ignoring the secrets of his business success: [R]elentless cost cutting and efficiency improvements, boldness in betting on the long-term prospects of the industry while others were willing to take quick profits, and impressive abilities to spot and reward talent, delegate tasks, and manage a growing empire. [31] He later stated, "From the beginning, I was trained to work, to save, and to give. Rockefeller's General Education Board, founded in 1903,[120] was established to promote education at all levels everywhere in the country. During the next decade, kerosene became commonly available to the working and middle classes. Er war der Enkel von John D. Rockefeller und erreichte das biblische Alter von 101 Jahren. In our 48 Hours features and other travel stories, we highlight places that make Maine so unique, and our coverage of the incredible restaurants here will make you want to explore even more. [82] Amid the frenetic expansion, Rockefeller began to think of retirement. These included, among many others, Continental Oil, which became Conoco, now part of ConocoPhillips; Standard of Indiana, which became Amoco, now part of BP; Standard of California, which became Chevron; Standard of New Jersey, which became Esso (and later, Exxon), now part of ExxonMobil; Standard of New York, which became Mobil, now part of ExxonMobil; and Standard of Ohio, which became Sohio, now part of BP. Even with the high costs of freight transportation and a government levy during the Civil War (the government levied a tax of twenty cents a gallon on refined oil), profits on the refined product were large. [73] Despite the formation of the trust and its perceived immunity from all competition, by the 1880s Standard Oil had passed its peak of power over the world oil market. [65], Standard countered, held back its shipments, and, with the help of other railroads, started a price war that dramatically reduced freight payments and caused labor unrest. “But it was simply out of the question. [98], In his 50s Rockefeller suffered from moderate depression and digestive troubles; during a stressful period in the 1890s he developed alopecia, the loss of some or all body hair. Few miners actually belonged to the union or participated in the strike call, but the majority honored it. Although it always had hundreds of competitors, Standard Oil gradually gained dominance of oil refining and sales as market share in the United States through horizontal integration, ending up with about 90% of the US market. He was found with a 22-year-old blonde whom Rockefeller had been with, in circumstances that were deemed “undeniably intimate.”. In 1901, he founded the Rockefeller Institute for Medical Research[120] in New York City. It developed over 300 oil-based products from tar to paint to petroleum jelly to chewing gum. In 1877, Standard clashed with Thomas A. Scott, the president of the Pennsylvania Railroad, Standard's chief hauler. His company and business practices came under criticism, particularly in the writings of author Ida Tarbell. "[73] Over time, foreign competition and new finds abroad eroded his dominance. By 1869 there was triple the kerosene refining capacity than needed to supply the market, and the capacity remained in excess for many years. They include politicians and writers, some of whom served Rockefeller's interests, and some of whom built their careers by fighting Rockefeller and the "robber barons". [40], In 1859, Rockefeller went into the produce commission business with a partner, Maurice B. Clark, and they raised $4,000 ($113,822 in 2019 dollars) in capital. On Gates' advice, Rockefeller became one of the first great benefactors of medical science. Fridtjof Nansen Award for outstanding research, historical-philosophical class (1985) Empowering award (1994) Peer Gynt Literary Award (1999) Grand Officer of the Order of Wissam El Alaoui (1971); Großkreuz des Sankt-Olav-Ordens (1987); Großoffizier des Verdienstordens der Italienischen Republik (1965) [139], Rockefeller is largely remembered simply for the raw size of his wealth. [12] His foundations pioneered developments in medical research and were instrumental in the near-eradication of hookworm[13] and yellow fever[14] in the United States. His father was of English and German descent, while his mother was of Ulster Scot descent. Grandson Laurance Spelman Rockefeller became a conservationist. We have abundant evidence that Rockefeller's consistent policy was to offer fair terms to competitors and to buy them out, for cash, stock, or both, at fair appraisals; we have the statement of one impartial historian that Rockefeller was decidedly "more humane toward competitors" than Carnegie; we have the conclusion of another that his wealth was "the least tainted of all the great fortunes of his day."[136]. The Messy, Mysterious Death Of Former Vice President Nelson Rockefeller. "[85] He began a publicity campaign to put his company and himself in a better light. Rockefeller said, "It was the day that determined my career. Great raw, awesome oyster Rockefeller and grilled anyway you like them. For other people named John D. Rockefeller, see, American business magnate and philanthropist, Business partnership and Civil War service, Strike of 1913–14 and the Ludlow Massacre, This is his peak net worth. John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. Nelson Rockefeller hanging off the back of a car while on the Presidential campaign trail. The railroads competed fiercely for traffic and, in an attempt to create a cartel to control freight rates, formed the South Improvement Company offering special deals to bulk customers like Standard Oil, outside the main oil centers. A state agency created by Governor Carlson, offered work to unemployed miners building roads and doing other useful projects. [95] Rockefeller denied any responsibility and minimized the seriousness of the event. He wrote and published his memoirs beginning in 1908. [29] As Rockefeller's wealth grew, so did his giving, primarily to educational and public health causes, but also for basic science and the arts. Wikimedia CommonsNelson Rockefeller in 1975, four years before his death. US$418 billion (in 2019 dollars; inflation-adjusted) in 1913, Alice Rockefeller (July 14, 1869 – August 20, 1870), Public Diary of John D. Rockefeller, now found in the Cleveland Western Historical Society, This page was last edited on 16 May 2021, at 07:41.
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