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Rockefeller founded the Standard Oil Company in 1870. He ran it until 1897 and remained its largest shareholder . In his retirement, he focused his energy and wealth on philanthropy, especially regarding education, medicine, higher education, and modernizing the Southern United States .
Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911. The origins of the trust lay in the operations of the Standard Oil Company (Ohio), which had been founded in 1870 by John D. Rockefeller.
The Standard Oil Company (Ohio) was an American petroleum company that existed from 1870 to 1987. The company, known commonly as Sohio , was founded by John D. Rockefeller . [ 4 ] [ 2 ] It was established as one of the separate entities created after the 1911 breakup.
Elon Musk has since surpassed John D. Rockefeller as the richest person in the history of the United States, and of modern history, according to size of wealth compared to GDP. On December 2024 his wealth reached $474 billion dollars (1.61% of USA's GDP at that year) compared to Rockefeller's 1.5% at the height of his wealth. [5]
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John D. Rockefeller is considered to be the wealthiest American of all time, earning his immense fortune after gaining control of 90 percent of American oil production in the late 1800s. The oil ...
By March 9th, newspapers were generally attacking the South Improvement Company as an assault on free enterprise. On March 11, 1872, New York refiners sent a delegation to the oil regions to back the suppliers' opposition to the South Improvement Company. On March 23, John D. Rockefeller met with producers, refiners, and railroad leaders.
Both Exxon and Mobil were descendants of Standard Oil, established by John D. Rockefeller and partners in 1870 as the Standard Oil Company of Ohio. In 1882, it together with its affiliated companies was incorporated as the Standard Oil Trust with Standard Oil Company of New Jersey and Standard Oil Company of New York as its largest companies. [5]