The Definition of Entrepreneur: John D Rockefeller’s Oil Empire

John D. Rockefeller may well be considered one of the most successful business moguls to ever walk the planet, and a great example of the typical definition of a successful entrepreneur. He established many firsts in the business world, the most important being the first to establish a “trust” in America and he can also be said to have inspired monopolization when it comes to business. Although he was known for his risky and aggressive business decisions, Rockefeller was also widely known for his philanthropic acts; in a way, he defined what is now known as modern philanthropy. Apart from the fact that he was very successful with his business, his strong will combined with a tender heart is the reason why his story is part of the best entrepreneur stories of all time.

John D. Rockefeller was born in New York, the second of six children. He was part of a religious Baptist family and was a serious kid growing up. From a young age he already had the makings of a great businessman. He liked math, enjoyed accounting, and was a very organized person. He also excelled in the debates and had no problem expressing his ideas on point.

At the age of 16, Rockefeller got his first job as an accounting assistant. It was here in this job that he developed and perfected the intricacies, methods, and systems needed to run a successful business. His innate organizational qualities paid off in his work; he was a very detail oriented employee and was very good on the financial side. He was able to save quite a few dollars on his job as an accounting clerk, and even at this young age, he would usually set aside a percentage of his salary to donate to charities and foundations.

After being exposed to the corporate world, Rockefeller along with Clark began to set up their own company; Rockefeller was 19 years old when this happened. They both worked very hard and it finally paid off to let them earn several thousand. After a while, his company moved to the refineries. This was his greatest success, after several years they became the largest refinery in Cleveland. the Standard Oil Company was born; this was a business venture that Rockefeller undertook together with his brother and other partners. He was very competitive and made decisive decisions to buy other oil refinery companies. In fact, after several years, Rockefeller was able to monopolize the oil industry in the United States.

At the height of his business, Rockefeller was worth approximately $1 billion. The great thing about Rockefeller is that even though he was widely known for making aggressive decisions when it came to his business, he still had a soft heart for helping people. He never lost the desire to help and share what he has. He was a great businessman, but also a philanthropist at heart. He was passionate about causes that could uplift humanity in any way possible; be it for education, health or anything else, he would always be willing to help.

It is undeniable that John D. Rockefeller has contributed so much to America. He was able to revolutionize and inspire different aspects of the business. Aside from that, he was also able to contribute greatly to charitable causes in the latter part of his life. His entrepreneurial genius is always something to be inspired by and a great example of the true definition of a successful entrepreneur.