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John D. Rockefeller was an American industrialist and philanthropist who was born on July 8, 1839, in Richford, New York. He was the second of six children born to William Avery Rockefeller and Eliza Davison. Rockefeller's father was a traveling salesman who sold various goods, including elixirs and other medical remedies, and his mother was a devout Baptist who instilled strong religious beliefs in her children. When Rockefeller was just a boy, his family moved to Cleveland, Ohio, where his father started a business that sold grain, hay, and other agricultural products. Rockefeller's father was a shrewd businessman, and he taught his son the value of hard work and thriftiness. Rockefeller worked alongside his father from a young age and quickly learned the skills needed to succeed in the business world. At the age of 16, Rockefeller got his first job as a bookkeeper for a local produce commission firm. He proved to be an excellent employee, and his attention to detail and strong work ethic impressed his employers. Within a few years, Rockefeller had saved up enough money to start his own business with a partner, Maurice B. Clark. Their business, Clark & Rockefeller, was a commission firm that bought, sold, and shipped grain, hay, and other agricultural products. Rockefeller was responsible for managing the finances of the business, and he quickly became known for his keen business sense and ability to make profitable deals. By the age of 20, Rockefeller was already a successful businessman, and he was earning a substantial income from his business ventures. In 1862, Rockefeller formed a partnership with two other businessmen, Samuel Andrews and Stephen V. Harkness. Together, they started a new business called Andrews, Clark & Company, which focused on refining crude oil into kerosene. The business was a success, and within a few years, it had become the largest oil refiner in Cleveland. Rockefeller saw an opportunity to expand the business even further, and in 1870, he formed the Standard Oil Company of Ohio. The new company was a consolidation of several smaller oil companies, and it quickly became the dominant player in the oil industry. Rockefeller's shrewd business practices, including aggressive pricing strategies and vertical integration, helped the company to gain a stranglehold on the oil market. Over the years, Rockefeller continued to expand the reach of Standard Oil, acquiring new companies and consolidating the oil industry under his control. By the 1880s, Standard Oil controlled more than 90% of the oil industry in the United States, making Rockefeller one of the wealthiest and most powerful men in the country. However, Rockefeller's success was not without controversy. Many critics accused him of engaging in unethical business practices, including price fixing and monopolistic behavior. In 1890, the United States government passed the Sherman Antitrust Act, which was designed to prevent monopolies and promote fair competition in the marketplace. Standard Oil became one of the primary targets of the antitrust movement, and in 1911, the United States Supreme Court ruled that the company was in violation of the Sherman Antitrust Act. As a result, Standard Oil was broken up into several smaller companies, including ExxonMobil, Chevron, and ConocoPhillips. Despite the controversy surrounding his business practices, Rockefeller was also known for his philanthropic efforts. He believed that it was important to give back to society, and he donated large sums of money to a variety of charitable causes. In 1901, Rockefeller founded the Rockefeller Institute for Medical Research (now known as Rockefeller University) with a donation of $4 million. The institute was dedicated to advancing medical research and finding cures for diseases. Rockefeller also donated money to numerous educational institutions, including the University of Chicago, Spelman College, and the University of California, and he supported various social and cultural institutions, such as the Metropolitan Museum of Art and the American Museum of Natural History. In addition to his charitable giving, Rockefeller was also known for his personal frugality. Despite his immense wealth, he lived a modest lifestyle and was known to wear the same suit for years at a time. John D. Rockefeller died on May 23, 1937, at the age of 97. He had lived a long and prosperous life, and his legacy as one of America's greatest industrialists and philanthropists will continue to be remembered for generations to come. Thank you for watching, we have worked hard to get this video published and we hope it deserves your attention. © The material is copyrighted audio and video, any use without our permission will be prosecuted under copyright law. We are the owner of the licenses to use all of the material in this video, including its thumbnails. Send us an e-mail for community post shoutout/collaboration/promotions — [email protected].

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