Rockefeller, John D. - Investment & Finance Definition
A turn-of-the-century industrialist who started his career making $4 a week as a clerk in Cleveland. He made his fortune by turning oil into products that people needed, such as kerosene. In 1890, he controlled 90 percent of the U.S. oil industry with his Standard Oil Trust, which was broken up by the Sherman Antitrust Act. However, 15 years later he had recreated his monopoly, which the Supreme Court broke up in 1911. He gave $10 million to the General Education Board and his money started the University of Chicago and the Rockefeller Foundation.