John D. Rockefeller was the world’s first billionaire, achieving that status in 1916 largely through his ownership of Standard Oil. Rockefeller was born in 1839 in Richford, New York, to a family of modest means. His father, William Avery Rockefeller, was a traveling salesman and con artist, while his mother, Eliza Davison, was a devout Baptist.
Rockefeller was a driven and ambitious man, and he quickly rose to prominence in the business world. In 1870, he founded Standard Oil, which quickly became the largest oil company in the world. By 1890, Rockefeller had gained a near-monopoly on the oil industry, controlling 90% of the market. This gave him immense wealth and power, and by 1916, his net worth had grown to over $1 billion, making him the world’s first billionaire.
Rockefeller’s wealth was not just from Standard Oil, however. He was also a shrewd investor, investing in railroads, banks, and real estate. He also donated large sums of money to charity, and was one of the first to advocate for philanthropy.
Rockefeller’s legacy is still felt today. His business acumen and philanthropy have made him an iconic figure in American history. He is remembered as a great businessman and a generous philanthropist. He is also remembered for his part in creating the modern oil industry, and for his role in the development of the American economy.
Rockefeller died in 1937 at the age of 97. He left behind a legacy of wealth, power, and philanthropy that will never be forgotten. He will always be remembered as the world’s first billionaire.