John D. Rockefeller was the second child born out of six children. At a very young age, John started working for neighbors and rasing turkeys. He made up to almost $50 working. His family was a hardworking class family who lived in Richford, New York. In 1853, their family moved to a small farm in Strongville, Ohio, were John started pursuing his education.
In 1855, John got his first job, as a bookkeeper in a library for only four dollars a week. John was a talented young man and he showed it from the beginning of his career. In 1859, Rockefeller was rewarded by being a partner. In that same year, oil was discovered not to far away from him. He took an interest in the oil business but he was denied by the wildcatters. Eventually he made his bid, by establising a refining business with Maurice B. Clark and a few other people. In 1870, Rockefeller teamed up with his brother to establish the Standard Oil Company. This also became the first US trust.
The Standard Oil Company grew from Cleveland to Pittsburgh, Philadelphia, and New York City. In the early 1870's the oil company employed a huge number of business practices including:
*Monopolization
*Rate Wars
*Rebates
*Intimidation
Sources:
http://http://www.u-s-history.com/pages/h957.html
http://http://www.spartacus.schoolnet.co.uk/USArockefeller.htm
Comments
A bit brief as there is much more to Rockefeller and his company. Be sure to add personal thoughts.