Rockefeller: The Richest American Who Ever Lived|5 Minute Vi…
Was America’s first billionaire, John D. Rockefeller, a greedy burglar baron, a generous philanthropist, or both? And did the oil magnate exploit America’s poor or give them access to much-needed energy? Historian and Hillsdale College teacher Burt Folsom, author of “The Myth of the Robber Barons,” exposes the truth about the Rockefeller empire.
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Script:
He was called “the most disliked male in America.” The New York Times explained him as “the world’s biggest giver.” He was America’s very first billionaire. And he provided half of it away. He was the quintessential so-called “Robber Baron” of the Gilded Age. He was most likely more accountable than any other single individual for the development of the American middle class and the development of America as an excellent industrial power. He lived in a splendid estate. However was so concerned about spoiling his children that he dressed them in hand me down clothes. Tune lyrics were blogged about him. He rarely went to social events.
His name was John D. Rockefeller. And his story is uniquely American.
Rockefeller’s mother guaranteed John that God was the dad who would never ever let him down. Rockefeller soaked up that message. From his teenage years to his dying day, Rockefeller always provided a part of his earnings to charity.
Rockefeller’s cost effective kerosene– processed unrefined oil– made the world brighter, warmer, cleaner, and much better– for everybody. “We need to ever keep in mind,” Rockefeller composed to one of his partners in 1885, “we are refining oil for the bad guy and he should have it inexpensive and great.”
Rockefeller enjoyed the business of business. His first partner, Maurice Clark stated, “If there was a cent due a customer, he wanted the consumer to have it.”
Rockefeller displayed genius at getting innovative ideas from his staff members at Standard Oil. Other oil refiners disposed oil waste into neighboring rivers. That repulsed Rockefeller who was maybe the greatest environmentalist of his age.
After the kerosene had been removed, Rockefeller’s personnel found usages for the staying components: the gasoline as fuel, some of the tars for paving, and other by-products to make paint, varnish, and even anesthetics.
It’s hard to envision that the car market would have even come into existence without the schedule of Rockefeller’s cheap oil. When Henry Ford was prepared with his Model-T, Rockefeller was ready to supply the gas.
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Was America’s first billionaire, John D. Rockefeller, a greedy robber baron, a generous benefactor, or both? Rockefeller’s special gift to the world was kerosene, inexpensive kerosene, cheap enough that anyone might buy it. Rockefeller’s affordable kerosene– processed crude oil– made the world brighter, warmer, cleaner, and better– for everyone. “We need to ever remember,” Rockefeller wrote to one of his partners in 1885, “we are refining oil for the poor male and he must have it good and low-cost.”
Rockefeller displayed genius at getting imaginative concepts from his staff members at Standard Oil.
