John Rockefeller was born July 8th, 1839, the second of six children. He took a business course at Folsom Mercantile College in 1855. He was employed as an assistant bookkeeper by Hewitt and Turtle. He was paid only $50 for 3 months of work. Moving up to a cashier he made $25 a month.

With $1,000 saved and another $1,000 borrowed form his father, Rockefeller formed a partnership in commission business with Maurice B. Clark. In the same year the first oil well was drilled at Titusville in western Pennsylvania, give a rise to the pe

Rockefeller wasn’t only the head of Standard, he also owned iron mines and timberland. He invested in many other companies in manufacturing and transportation. Rockefeller retired active leadership from Standard in1896, but help the title of president until 1911. In 1911 the U.S. Supreme Court found Standard Oil Company to be a violation of the anti-trust laws and order the division of the parent NJ corporation. Standard Oil was divided into 32 individual firms. It was said the Rockefeller owned 244,500 of the company’s 983,383 outstanding shares before the companies division.

By 1872 Standard Oil had purchased and controlled nearly all the refining firms in Cleveland, also two refineries in New York. The company was able to refine 29,000 barrels of crude oil a day and had its own cooper shop manufacturing wooden barrels. In 1882 Standard merged all its properties into Standard Oil Trusts, increasing the capitol to $70million, and 42 certificate holders. Ten

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