"Rockefeller, John Davison (1839-1937), was an American businessman,. who made a fortune in the petroleum industry, and became famous for his philanthropy (charity)." (World book, vol 16,). He was the leading force behind the development of the Standard oil Company, which grew to dominate the oil industry and became one of the first big trusts in the United States, thus engendering much controversy and opposition regarding its business practices and form of organization. Rockefeller also was one of the first major philanthropists in the U.S., establishing several important foundations and donating a total of about $550 million to charitable purposes.
"The Standard oil company was established in 1870 by Rockefeller" along with "Andres & Flager, his younger brother William and some associates." World book 16). The Standard Oil Company was first known as the Standard Oil Company of Ohio in 1862 when John D Rockefeller first went into the oil business, but the name was changed to the Standard oil company in 1870 when Rockefeller and some business partners bought most of the oil refineries in Cleveland, New York and other cities. .
"In 1882, they transferred the stock of all their companies into the newly formed Standard Oil Trust. This transfer of control helped unify the management of the organizations and lessened legal difficulties. The Standard Oil Trust immediately became the business in the oil industry. It controlled more than 90 percent of the country's refining capacity."(835) This made Rockefeller a wealth man, In addition to being the head of one of the largest company in the world, Rockefeller owned iron mines and timberland and invested in numerous companies in manufacturing, transportation, and other industries. Although he held the title of president of Standard Oil until 1911, Rockefeller retired from active leadership of the company in 1896.(other encyclopedia) Shortly before retiring as active leader, the Company was forced by the Ohio Supreme Court in 1892 to dissolve and was renamed "Standard Oil Company ( New Jersey), often referred to as Jersey Standard", after numerous public Criticism about Rockefeller and his methods.