Rockefeller was described as ruthless and a very corrupt cooperate, malefactor, who used all the tricks in the cooperate book to take control of the oil industry
Rockefeller was among several men that were called robber barons during the 19th century. He was a prominent businessman. He established the biggest most profitable business in the United States at that time.
Further Explanation
He created the Standard Oil Company which controls the oil sector in the United States at the time. He was criticized to have used several dubious means to manipulate the industry and gain control of the oil industry.
At that time, some of the controversial issues that surrounded Rockefeller was that he demanded rebates as a form of discount rates from the railroad. He used this tactic to reduce the price of oil that he sold to his customers.
This tactic made his business boom as his profit soared and his competitors' business crashed one after the other.
This tricks also forced smaller oil companies to surrender their stock to Rockefeller and he took absolute control of the oil industry
Some important information about Rockefeller
- He was born in 1838 in New York
- He built a refinery in 1870 near Cleveland and it was his first refinery
- He was a great philanthropist
- Rockefeller died in 1937
Learn more about Rockefeller at:
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