John D. Rockefeller is considered the wealthiest of man of modern history, he lived to be almost 100 years-old, (1839- 1937). He was an entrepreneur of the greatest magnitude, he created something that would change the world indefinitely… Standard Oil. He created the first oil refinery in the world, this changed the world in several different ways. Economist say that Rockefeller’s Standard Oil company had a major hand in creating the great American Middle class. He was Americas first billionaire. I am not citing John Rockefeller under the category of redemptive entrepreneurship because of his great wealth or revolutionary business but because of his character.
His business partner said this about Rockefeller and how he did business, “if there was a customer due a cent, he wanted the customer to have it.” Rockefeller exuded this fair mentality with every ordeal in life, experts estimate that Rockefeller gave away 500,000 million dollars to charities and the church. Often people object saying that it is easy to be generous when one has so much; but Rockefeller since his first job were, he earned 15 cents a job was a firm believer in tithing.
His business swept the nation because of three facts efficiency, fairness and generosity. He would generously reward his engineers who would figure out how to get an extra drop of kerosene out of a barrel. He was determined to find a use for ever single ounce of kerosene in a barrel. Rockefeller would often scold those in his industry for pouring waste into rivers and never did himself. There is a black college named after Rockefeller’s wife due to the fact that he donated so much to get it started. This was at a time when this was not socially acceptable to act in that manner.
“We must ever remember we are refining oil for the poor man and he must have it cheap and he must h have it good. “Another quote which reflects the character of Rockefeller. Despite all these astounding facts about the man many have attempted to defame the name Rockefeller. He has been called a “greedy capitalist” by those who do not believe in capitalism itself. Rockefeller is a true entrepreneur and a true example of how to do good business.