1839
John Davison Rockefeller was born on July 8, 1839, the second child and first son of Eliza Davison Rockefeller.
“July 8th, 1839, Eliza gives birth to her second child”
Topic
John D. Rockefeller
24 facts from 3 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1855
John D. Rockefeller began work as a junior bookkeeper at the firm Hewitt and Tuttle on September 26, 1855.
“you can work here, you can be a junior bookkeeper. This happens on September 26th, 1855.”
1858
In 1858 Rockefeller joined with Maurice Clark to found the produce merchant firm Clark and Rockefeller, owned 50-50.
“hooks up with a much older gentleman named Maurice Clark that he had met doing his bookkeeping training. And they go in 50-50 on a new merchant firm called Clark Rockefeller.”
1860s
In the book's account, John D. Rockefeller's partner Andrews sided with him when Rockefeller dissolved his early refinery partnership.
“They were doubly shocked to find that Andrews had thrown in his lot with Rockefeller as one of their other partners.”
1860s
According to the host, Rockefeller's former partners dropped out of the auction for the Cleveland refinery when bidding reached $72,000.
“Bidding for this oil refinery hit $72,000. Once it hit that, they're like, this is too much money.”
1860s
The host says the refinery Rockefeller won at auction had total sales of $1.2 million the following year.
“the next year, that refinery had total sales of $1.2 million. This is in the eighteen sixties. This is insane.”
1862
Wartime demand for foodstuffs gave Clark and Rockefeller a $17,000 trading profit in 1862, about four times all their earlier profits combined, according to the host.
“the firm Clark and Rockefeller, they make a trading profit of $17,000, which I believe was four times all the money that they had made in all the previous years of operations at the firm”
1865
In February 1865 Rockefeller won an auction against the Clark brothers and bought Clark's half of the oil business for $72,500.
“He buys Clark's 50% of the oil business for $72,500.”
1865
In December 1865 Rockefeller opened a second Cleveland refinery beside the Excelsior Works, which took the Standard name.
“He opens a second refinery in Cleveland next to the Excelsior works.”
1870
On January 10, 1870, Rockefeller and his partners dissolved their partnership and formed the joint stock company Standard Oil Company of Ohio.
“on January 10th, 1870, they abolish the old partnership and they pour all of its assets into the new joint stock company, the Standard Oil Company of Ohio.”
1870s
Rockefeller bought a fleet of wide-gauge tank cars from the cash-strapped Erie Railroad, giving Standard Oil early access, lower freight rates and rental income.
“At one point, Rockefeller purchased a fleet of uh wide gauge tank cars from the cash strapped Erie Railroad.”
1872
The host says Rockefeller consolidated about 25 or 26 Cleveland refineries in a few weeks in the episode known as the Cleveland Massacre.
“I think he he consolidated twenty five or twenty six refineries in Cleveland”
1880s
Rockefeller's first significant philanthropic project was Spelman Seminary, which became Spelman College, a historically Black women's college in Atlanta, in the early 1880s.
“the first significant project that he and the family do is actually Spelman seminary what becomes Spelman college the um hbcu women's college in atlanta in the early 1880s”
1890
In 1890 John D. Rockefeller was generating about $10 million in annual income from Standard Oil dividends and other sources.
“in 1890 he was generating 10 million dollars in annual income just from standard oil dividends from a variety of sources”
1890s
John D. Rockefeller owned 257,000 of Standard Oil's 973,000 shares, about a quarter of the company.
“he owns 257 000 of the 973 000 shares of standard oil so he owns a quarter of standard oil”
1891
The hosts say Rockefeller was again one of Senator John Sherman's biggest donors when Sherman ran for reelection in 1891, after the act passed.
“when Sherman runs for reelection in Ohio, the very next year in 1891, do you know who once again, one of his biggest donors was?”
1891
In 1891 Rockefeller persuaded Frederick Gates to move to New York and help manage his philanthropic efforts.
“finally in 1891 he not gives up but says like i gotta find a different way to make this work and he convinces a man named frederick gates”
1896
Rockefeller retired from day-to-day management of Standard Oil in 1896, leaving John Archbold and his son John D. Rockefeller Jr. in charge, though he kept a title.
“So in 1896, Rockefeller is like, well, I guess it's been a good run. I'm going to hang it up. I'm going to retire.”
1901
Rockefeller made about $80 million from the U.S. Steel roll-up, roughly $80 million of his approximately $200 million in wealth.
“he makes 80 million on that transaction 80 of his 200 million dollars of wealth come from this u.s steel roll-up”
1901
The Rockefeller Institute for Medical Research was set up in 1901 on a farm on Manhattan's East Side overlooking the East River.
“they buy a farm on the east side of manhattan overlooking the easter river in the upper 60s”
1913
Rockefeller's personal wealth was about $900 million by 1913, two years after the breakup.
“his personal wealth by 1913 just two years after the breakup was 900 million dollars”
Undated
John D. Rockefeller's father, William Avery Rockefeller, worked as a traveling medicine seller nicknamed Devil Bill and Big Bill.
“Devil Bill, Big Bill, was literally a snake oil salesman.”
Undated
Clark and Rockefeller invested $4,000 to set up a Cleveland refinery, the Excelsior Works, after chemist Samuel Andrews pitched refining kerosene.
“They invest $4,000 on the spot to go set up a new refinery”
Undated
The host says Charlie Munger named John D. Rockefeller as the greatest entrepreneur of all time.
“And he says it was obviously Rockefeller. That's what Munger said.”
Episodes