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Rockefeller Robber Baron or Captain of Industry John D Rockefeller was the first billionaire in the United States He owned Standard Oil Company and was the main person to organize the oil industry When he was young the company he was working for at the time sent him to oil country He checked everything out and reported back to the company that as far as he could tell there was no future in the oil industry Little did he know that in a short time he would be investing in the oil industry Before he knew it he owned twenty five refineries and was making a lot of money He donated five hundred thirty million dollars of the money he made to medical research John Rockefeller was a good business man who gave back to the community and was definitely a captain of industry Some people dont agree that Rockefeller was such a good person infact there are people who would probably call him a robber baron This opinion isnt totally unfounded like any businessman John wasnt perfect He bought out other oil companies until he had a monopoly on the oil industy When monopolies were banned by the government he formed a corporation which was basically a loop hole in the monopoly law He got rebates from the railroad company and special rates for transporting his oil He hired spies to get inside information on his competition Any competition that wouldnt be bought out was driven out of business because he could lower his prices more than anyone and still make a profit Then after he drove out competition he jacked up the oil price Calling Rockefeller a robber baron wouldnt be totally
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