John D. Rockefeller Tells About How He Became one of the Richest Men on Earth, Through Oil

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My name is John D. Rockefeller, and I built Standard Oil, one of the most powerful companies in history. I became one of the richest men in the world, but I also believed in giving back and used my wealth to fund schools, medical research, and charities. Some saw me as a ruthless businessman, while others saw me as a generous philanthropist. Let me tell you my story.

I was born on July 8, 1839, in Richford, New York. My father was a traveling salesman, and my mother taught me the importance of hard work, discipline, and saving money. When I was a boy, I worked small jobs—raising turkeys, selling candy, and keeping track of every penny I earned. Even at a young age, I knew that money wasn’t just for spending—it was for investing.

In 1855, at just 16 years old, I got my first real job as a bookkeeper in Cleveland, Ohio. I worked long hours, saved every dollar, and learned everything I could about business, finance, and trade. A few years later, I partnered with a man named Maurice Clark and entered the oil refining business. This was the era of the Industrial Revolution, and oil was becoming incredibly valuable for making kerosene, which was used for lighting homes.

I soon realized that efficiency and control were the keys to success. In 1870, I founded Standard Oil, and I did things differently. Instead of relying on multiple companies to refine, transport, and sell oil, I bought out my competitors and controlled every step of the process—drilling, refining, transportation, and distribution. This strategy, called horizontal and vertical integration, allowed me to cut costs, lower prices, and dominate the industry.

By the 1880s, Standard Oil controlled about 90% of the oil refining industry in the U.S.. My company was incredibly successful, but not everyone was happy. People accused me of eliminating competition and creating a monopoly, and in 1911, the U.S. government broke up Standard Oil into 34 smaller companies under antitrust laws. Funny enough, many of those smaller companies—like Exxon, Mobil, and Chevron—went on to become giants in the oil industry. And since I still owned shares in all of them, I became even richer after the breakup.

But my story isn’t just about making money—it’s about giving it away. I believed in the saying “God gave me my money”, meaning wealth should be used to help others. Over my lifetime, I donated more than $500 million to education, medicine, and science. I helped found the University of Chicago, funded the Rockefeller Institute for Medical Research, and helped eliminate diseases like yellow fever and hookworm.

I lived to be 97 years old, passing away on May 23, 1937. Looking back, I know I changed the world—some say for better, some say for worse. But I believed in hard work, smart investments, and giving back to society.

If there’s one lesson I want you to take from my story, it’s this: success isn’t just about making money—it’s about using it to create something that lasts. Thank you for listening.

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