Standard Oil Company

In 1870, Rockefeller co-founded the Standard Oil Company, which quickly became the dominant force in the American oil industry. Through strategic partnerships, efficient refining practices, and aggressive business tactics, Standard Oil gained control over oil production, transportation, and distribution across the United States. At its peak, the company controlled nearly 90 percent of U.S. oil refining capacity.

Standard Oil’s growth made Rockefeller the wealthiest individual of his time, but it also sparked public concern over monopolies and corporate power. These concerns led to increased government regulation and, in 1911, the U.S. Supreme Court ordered the breakup of the Standard Oil monopoly under the Sherman Antitrust Act. The dissolution resulted in several major companies that still exist today, including ExxonMobil and Chevron.

Despite controversy, John D. Rockefeller’s legacy extends beyond business. He became a leading philanthropist, donating vast portions of his wealth to education, science, and public health. His influence on modern capitalism, antitrust law, and corporate philanthropy remains significant today.