John D Rockefeller Wealth
John D. Rockefeller
Should the wealthiest of one’s country donate funds to assist the welfare of others? John D. Rockefeller was born into a middle class family, but through his education and efforts he gained tremendous wealth. In the early stages of his life, he and his family moved to the Cleveland, Ohio, area where he later began to work as an assistant bookkeeper for produce merchant at the age of 16. Standard Oil was not discovered flowing out of the Western Pennsylvania springs, aka “Oil Creek” until 1858. Not only was he the founder of standard oil, but he was also a philanthropist. John also donated significant amounts of money to education and medical research. Rockefeller’s wealth, not only provided for his well being, but also …show more content…
From his steel industry to his kind hearted donations for various educational, religious, and scientific causes, he donated more than half a billion dollars. Around the year 1858 oil was discovered flowing out of the western Pennsylvania Springs, sometimes known as “Oil Creek”. In 1859,a man by the name of Colonel Edwin Drake found a way to control how much amount of oil came out of the Pennsylvania Springs. Little does Rockefeller and Drake know but the oil in the Pennsylvania Springs was petroleum oil, which produces kerosene. Different ones traveled into Titusville, and this new got all the way to Cleveland. A chemist by the name Samuel Andrews, questioned Rockefeller and his friend about this news of kerosene coming out of the Oil Creek. Andrews later asked them to look into a 4,000 dollar investment in the opening of an oil refinery. Rockefeller thought that was a little much but then agreed to it. Andrew, Rockefeller, and Clark joined heads in 1864 and named their company the “Excelsior Oil Works”. Of course right from the start is was a success. By 1865, the company had grown and gotten so much business if was one of the largest refineries in the
Should the wealthiest of one’s country donate funds to assist the welfare of others? John D. Rockefeller was born into a middle class family, but through his education and efforts he gained tremendous wealth. In the early stages of his life, he and his family moved to the Cleveland, Ohio, area where he later began to work as an assistant bookkeeper for produce merchant at the age of 16. Standard Oil was not discovered flowing out of the Western Pennsylvania springs, aka “Oil Creek” until 1858. Not only was he the founder of standard oil, but he was also a philanthropist. John also donated significant amounts of money to education and medical research. Rockefeller’s wealth, not only provided for his well being, but also …show more content…
From his steel industry to his kind hearted donations for various educational, religious, and scientific causes, he donated more than half a billion dollars. Around the year 1858 oil was discovered flowing out of the western Pennsylvania Springs, sometimes known as “Oil Creek”. In 1859,a man by the name of Colonel Edwin Drake found a way to control how much amount of oil came out of the Pennsylvania Springs. Little does Rockefeller and Drake know but the oil in the Pennsylvania Springs was petroleum oil, which produces kerosene. Different ones traveled into Titusville, and this new got all the way to Cleveland. A chemist by the name Samuel Andrews, questioned Rockefeller and his friend about this news of kerosene coming out of the Oil Creek. Andrews later asked them to look into a 4,000 dollar investment in the opening of an oil refinery. Rockefeller thought that was a little much but then agreed to it. Andrew, Rockefeller, and Clark joined heads in 1864 and named their company the “Excelsior Oil Works”. Of course right from the start is was a success. By 1865, the company had grown and gotten so much business if was one of the largest refineries in the