John D. Rockefeller Net Worth
John D. Rockefeller net worth: John D. Rockefeller was an American businessman and philanthropist who had an inflation-adjusted net worth of $340 billion at the time of his death. John D. Rockefeller earned his massive fortune as the founder of the Standard Oil Company. He founded and operated Standard Oil Company for 27 years, retiring in 1897. The business began as a partnership with his brother, William, Henry Flagler, Samuel Andrews, Stephen V. Harkness and Jabez Bostwick in the state of Ohio.
Rockefeller was born in Richford, New York. He had five siblings. His father William Avery wasn't around very much and his mother Eliza was basically a broke single mom. John worked to earn extra money and helped around the house whenever he could. Eventually his family moved to Moravia, New York, then to Owego, New York where he attended school at Owego Academy and then Folsom's Commercial College to learn bookkeeping. When he finished school, he got a job as an assistant bookkeeper for Hewitt and Tuttle, a produce commission firm. He was only making 50 cents a day but still donated 6% of that to charity. Eventually John went into partnership with Maurice B. Clark and opened their own small produce commission business. After selling produce, he and his partner Clark built an oil refinery in Cleveland, Ohio, which they owned with Samuel Andrews and Clark's two brothers. Two years later, John D. Rockefeller bought out the Clark Brothers and the business became, Rockefeller and Andrews. John D. Rockefeller would soon prove himself to be one of the best entrepreneurs in human history. One that could turn money into more money, and at the same time, never let greed stop him from sharing his wealth.
Rockefeller was married to Laura Celestia Spelman and they had four daughters and one son. Upon his death, John left the majority of his wealth to charity, in the form of foundations controlled by his family. Upon his retirement, his son, John Jr. followed in his footsteps and took charge of his fathers businesses and foundations. John D. Rockefeller was a devout Christian and always gave in 10% tithe to his church. He taught Sunday school a the Erie Street Baptist Missionary Church, and provided services as a part time janitor, trustee and clerk.
John D. Rockefeller also founded the University of Chicago and the Rockefeller University. He founded many organizations to benefit medical research, education and Science. His generosity helped to eliminate the illnesses of yellow fever and hookworms. The more money he made, the more generous he became. Some of his contributions went to Spelman College in Atlanta, for African American women. He also gave support to Colleges such as, Yale, Harvard, Vassar, Columbia and other educational institutions. John D. Rockefeller was the founder of the Rockefeller Institute for Medical Research, the Rockefeller Sanitary Commission, and his General Education Board in 1903, which was founded in the hopes of giving everyone the equal opportunity to learn, especially in the black schools in the south, where a good education was hard to come by.