Definitions for john d. rockefeller
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Rockefeller, John D. Rockefeller, John Davison Rockefeller(noun)
United States industrialist who made a fortune in the oil business and gave half of it away (1839-1937)
John D. Rockefeller
John Davison Rockefeller was an American industrialist and philanthropist. He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy. In 1870, he founded Standard Oil Company and aggressively ran it until he officially retired in 1897. Rockefeller founded Standard Oil as an Ohio partnership with his brother William along with Henry Flagler, Jabez Bostwick, chemist Samuel Andrews, and a silent partner, Stephen V. Harkness. As kerosene and gasoline grew in importance, Rockefeller's wealth soared and he became the world's richest man and the first American worth more than a billion dollars. Adjusting for inflation, he is often regarded as the richest person in history. Rockefeller spent the last 40 years of his life in retirement. His fortune was mainly used to create the modern systematic approach of targeted philanthropy. He was able to do this through the creation of foundations that had a major effect on medicine, education and scientific research. His foundations pioneered the development of medical research and were instrumental in the eradication of hookworm and yellow fever.
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