September 29 1916 John D. Rockefeller's net worth officially surpassed 1 billion dollars becoming the world's first billionaire.
Born in 1839 John D. Rockefeller left high school in 1855 to study business.
In 1862 he invested in an oil refinery and his company would soon be known as Standard Oil.
He was the founder of theStandard 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 the Standard Oil Company and aggressively ran it until he officially retired in 1897.
At the time of his passing, if adjusted for the size of the economy, his net worth would translate to about $200 billion today, placing today's billionaires well in his shadow.
We'd like to add that he gave away over $500 million during his life, which would compare to about $5 billion today.
Poem about his life
Rockefeller, at the age of 86, penned the following words to sum up his life:
| “ |
I was early taught to work as well as play,
My life has been one long, happy holiday; Full of work and full of play- I dropped the worry on the way- And God was good to me everyday. |
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