Advice From Billionaire John D. Rockefeller, The Richest American Who Ever Lived

By on September 9, 2018 in ArticlesBillionaire News

John D. Rockefeller is the richest American who ever lived. At the time of his death in 1937, Rockefeller was worth the equivalent of $340 billion in today's dollars. His company, Standard Oil, dominated American oil production and was eventually broken up by the U.S. government for being a monopoly. Standard Oil was broken into smaller companies that you probably recognize today: Amoco, Chevron, and ExxonMobil. Rockefeller was the first American to ever make $1 billion.

Rockefeller's billionaire lifestyle more than a century ago wasn't so different than today's billionaires. He liked fast cars. Of course, the cars of more than a century ago were not fast by today's standards. He was against labor unions and pro-monopoly. He was also a bible thumper and against a government safety net. Whether you agree with his views or not, you cannot deny that by any measurement he was a success with a vast fortune. In fact, there were 14 tenets that Rockefeller lived by in business. Ten of them continue to ring very true today, nearly 100 years after his death.

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#1. A friendship founded on business is better than a business founded on friendship.

#2. Don't be afraid to give up the good to go for the great.

#3. Don't blame the marketing department. The buck stops with the chief executive.

#4. Good leadership consists of showing average people how to do the work of superior people.

#5. I believe in the dignity of labor, whether with head or hand; that the world owes no man a living but that it owes every man an opportunity to make a living.

#6. If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.

#7. If your only goal is to become rich, you will never achieve it.

#8. Singleness of purpose is one of the chief essentials for success in life, no matter what may be one's aim.

#9. There is no other quality so essential to success of any kind as the quality of perseverance.

#10. Thrift is essential to well-ordered living

Articles Written by Amy Lamare
Amy Lamare is a Los Angeles based writer covering business, technology, entertainment, philanthropy, and pop culture. She spent 8 1/2 years covering the entertainment industry for www.hsx.com. She has written for Los Angeles Magazine, Your Tango, Thinknum Media, and various airline magazines. Follow her on Facebook. Amy's favorite self-made billionaire is Sara Blakely.
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