- Richford[d], NY, USA
- Chancellor University [d]
Biography
early years
Rockefeller was the second child of six children in the family of Protestants William Avery Rockefeller (October 13 - May 11) and Louise Selyanto (September 12 - March 28). He was born in Richford, New York. His father was first a lumberjack, and then a traveling merchant who called himself a “botanical doctor” and sold various elixirs and was rarely at home. According to the recollections of neighbors, John's father was considered strange person who try to avoid hard physical labor, although they have a good sense of humor. By nature, William was a risk-taker, which helped him build up the small capital that allowed him to buy land plot for $3100. However, risk-taking coexisted with foresight, so part of the capital was invested in various enterprises. Louise, John's mother, ran the household, was a very devout Baptist, and was often in poverty because her husband was away for a long time and she constantly had to save on everything. She tried not to pay attention to reports of strangeness and adultery husband.
Rockefeller recalled that from an early age his father told him about the enterprises in which he participated, explained the principles of doing business, he wrote about his father: “He often bargained with me and bought various services from me. He taught me how to buy and sell. My father was simply “training” me to get rich!”
When John was seven years old, he began feeding turkeys for sale and earned money by digging potatoes for his neighbors. All results commercial activities he recorded it in his little book.
With my first wages Rockefeller acquires a good accounting book. In it he writes down all his income and expenses, paying attention to even the smallest details. He treated this book with special awe and respect, keeping it for the rest of his life. As well as the memory of your first working day, as an understanding of your first step on the path to becoming.
He invested all the money he earned in a porcelain piggy bank, and already at the age of 13 he lent a farmer he knew $50 at the rate of 7.5% per annum. His father's upbringing was continued by his mother, from whom he learned hard work and discipline. Since the family was large, and William Rockefeller’s enterprises did not always end successfully, she often had to save.
At the age of 13, John went to school in Richford. In his autobiography, he wrote that it was difficult for him to study and he had to study hard to complete his lessons. Rockefeller successfully graduated from high school and entered Cleveland College, where he taught accounting and the basics of commerce, but soon came to the conclusion that three-month accounting courses and a thirst for activity would bring much more than years of college, so he left it.
Career
Standard Oil brought Rockefeller $3 million annually [ ], he owned sixteen railway and six steel companies, nine real estate firms, six shipping companies, nine banks and three orange groves.
Rockefeller's name became a symbol of wealth: he lived in great comfort, but did not flaunt his wealth like other millionaires on New York's 5th Avenue. He had a villa and 700-acre (283 ha) plot of land on the outskirts of Cleveland, as well as homes in the states of New York, Florida and a personal golf course in New Jersey. But most of all he loved the Pocantico Hills villa near New York.
Rockefeller wanted to live to be a hundred years old, but did not live to see it three years- On May 23, 1937 he died from heart attack at the age of 97 years.
Charity
At the end of his life, Rockefeller gave away up to half a billion dollars, and yet his only son, John Rockefeller Jr., inherited $460 million. He also spent about half a billion on charity, and in addition gave money for the construction of the Rockefeller Center for the communications industry in New York. With all this, he left $240 million to his six children. Rockefeller Jr. also built the famous Empire State Building skyscraper. Being pious man, Rockefeller donated part of his fortune to the church, especially to the Northern Baptist congregation of which he was a member.
Rockefeller Plateau, discovered in 1934, in the western part of Mary Byrd Land (West Antarctica) is named after Rockefeller, who financed the American expedition led by Richard Byrd.
The asteroid (904) Rockefellia, discovered in 1918, is also named after Rockefeller.
As of the 2000s, John Rockefeller is considered the richest person in history; Forbes magazine estimated his fortune in 2007 equivalent terms at $318 billion, while the most great fortune of that time - Bill Gates - amounted to about $50 billion.
Family
John Rockefeller Sr.'s five grandchildren continued the tradition of philanthropy and political involvement. The most famous of them was Nelson Rockefeller, Vice President of the United States in 1977. Younger son John Rockefeller Jr., David Rockefeller, was the head of Manhattan Bank in the 1980s.
His wife Laura could compete with John in his tight-fistedness and stinginess, in his coldness and prudence. Modern researchers all say that Spelman was such a perfect character match for Rockefeller that it was amazing. They were able to live without spills for more than sixty years.
Notes
- BNF ID: Open Data Platform - 2011.
- Encyclopædia Britannica
- SNAC - 2010.
- The All-Time Richest Americans (undefined) . All the Money in the World. Forbes (14 September 2007). Retrieved May 4, 2014.
- The 20 Richest People Of All Time (undefined) . Business Insider(2 September 2010). Retrieved May 4, 2014.
- http://www.timelines.ws/states/FLORIDA.HTML
- http://www.timelines.ws/20thcent/1937.HTML
Plan
Introduction
1 Biography
1.1 Early years
1.2 Career
1.3 Charitable activities
1.4 Family
Bibliography
Introduction
John Davison Rockefeller John Davison Rockefeller; July 8, 1839 (18390708), Richford, New York - May 23, 1937, Ormond Beach, Florida) - American entrepreneur, philanthropist, the first “dollar” billionaire in human history.
In 1870, he founded the Standard Oil Company and ran it until his official retirement in 1897. Standard Oil was founded in Ohio as a partnership of John Rockefeller, his brother William Rockefeller, Henry Flager, Jabez Bostwick, chemist Samuel Andreus and one non-voting partner, Stephen Harkens. As the demand for kerosene and gasoline soared, Rockefeller's wealth also increased, and he became the richest man in the world at the time, with a net worth of US$1.4 billion (1937 par) or 1.54% of US GDP at the time of his death. Adjusted for inflation, the NYTimes estimates his wealth to be around US$192 billion in 2006 equivalent.
Rockefeller was one of the greatest philanthropists in the United States, the founder of the Rockefeller Foundation, who donated large sums to medical research, education, in particular, to the fight against yellow fever. He also founded the University of Chicago and Rockefeller University. Rockefeller was a devout Baptist and donated part of his income to support church institutions throughout his life. He always preached a healthy lifestyle and complete failure from alcohol and smoking. He had four daughters and one son, who inherited the management of the Rockefeller Foundation.
1. Biography
1.1. early years
Rockefeller was the second child of six children in the family of German Protestants William Aver Rockefeller (10/13/1810-05/11/1906) and Eliza Davison (09/12/1813-03/28/1889). He was born in Richford, New York. His father was first a lumberjack, and then a traveling merchant who called himself a “botanical doctor” and sold various elixirs and was rarely at home. According to the recollections of neighbors, John's father was considered a strange man, trying to avoid hard physical labor, although he had a good sense of humor. By nature, William was a risk-taker, which helped him build up the small capital that allowed him to buy a plot of land for $3,100. However, risk-taking coexisted with foresight, so part of the capital was invested in various enterprises. Eliza, John's mother, was a homemaker, a very devout Baptist, and often in poverty because her husband was constantly away for long periods of time and she constantly had to economize on everything. She tried not to pay attention to reports of her husband's oddities and adultery.
John Rockefeller recalled that from an early age his father told him about the enterprises in which he participated and explained the principles of doing business. John wrote about his father: “He often bargained with me and bought various services from me. He taught me how to buy and sell. My father simply “trained” me to get rich!”
When John was seven years old, he began feeding turkeys for sale and earned extra money by digging potatoes for his neighbors. He recorded all the results of his commercial activities in his little book. He invested all the money he earned in a porcelain piggy bank, and already at the age of 13 he lent $50 to a farmer he knew at the rate of 7.5% per annum. His father's upbringing was continued by his mother, from whom he learned hard work and discipline. Since the family was large, and William Rockefeller’s enterprises did not always end successfully, she often had to save. “I was brought up on the principle: work and save,” said John Rockefeller.
At the age of 13, John went to school in Richford. In his autobiography, he wrote: “It was difficult for me to study; in order to prepare my homework, I had to study hard.” Rockefeller successfully graduated from high school and entered Cleveland College, where he taught accounting and the basics of commerce, but soon came to the conclusion that three-month accounting courses and a thirst for activity would bring much more than years of college. He leaves college and plunges headlong into practice.
1.2. Career
Rockefeller was a hardworking, purposeful and devout Christian, for which his partners nicknamed him “Deacon.”
In 1853, the Rockefeller family moved to Cleveland. Since John Rockefeller was the eldest child in the family, already at the age of 16 he went to look for work. By that time, he already knew mathematics quite well, and even completed a three-month course in accounting in Cleveland. However, finding a job was not so easy. Six weeks of searching were in vain. Until John was finally hired as an accounting assistant at Hewt Tuttle. Hugh Tuttle was involved in real estate and sea transport. It is worth noting that this was such a time that for the first three months Rockefeller studied rather than worked. Those. I did everything completely free. Thanks to his aptitude for mathematics, he rose to the position of accountant.
However, Rockefeller truly enjoyed his studies. He started his work day at 6:30 am and ended later than 10 pm. Studying at Hewitt and Tuttle gave the future oil tycoon a lot. John Rockefeller, in general, quickly established himself as a competent professional. And as soon as the manager of Hewitt and Tuttle left his post, John was immediately appointed in his place. True, his salary was set at $600. This greatly offended Rockefeller, since his predecessor received 2000. John left the company. This was his first and last work for hire.
Just at this time, the English entrepreneur John Maurice Clark was looking for a partner with a capital of $2000 to create a joint business. At that time, Rockefeller had saved $800; he borrowed the remaining amount from his father at 10% per annum, and on April 27, 1857, he became a junior partner at Clark and Rochester. The Clark and Rochester trading house traded in hay, grain, meat and other goods.
Rockefeller was lucky - the southern states declared secession from the Union and the civil war began. The federal government needed hundreds of thousands of uniforms and rifles, millions of cartridges, tons of meat, sugar, tobacco and biscuits. Starting capital$4,000 was not enough to fulfill these orders; a loan was needed. However, the company was young, and banks preferred not to take risks. Rockefeller took upon himself the need to negotiate with the bank, but was 90% sure of refusal. John still came to the director of the bank and frankly, without hiding anything, told what was the matter. The businessman's sincerity impressed the bank director, and he agreed to give a loan.
As a result, Rockefeller made good money and could afford to start a family. He married Laura Celestina Spelman, whom he met while still a student. A devout teacher like her husband, Laura Spelman also had a practical mind. Rockefeller once remarked: “Without her advice, I would have remained a poor man.”
After some time, Rockefeller stumbled upon a real gold mine: in the evening, kerosene lamps lit up in all houses, from the palaces of Vanderbilt and Carnegie to the shacks of Chinese emigrants, and kerosene, as you know, is made from oil. Rockefeller's companion Maurice Clark said: "John believed in only two things on earth - the Baptist faith and oil."
In 1870, John Rockefeller met a chemist (name unknown), who told him about kerosene. Thus the Standard Oil Company was founded. Rockefeller began searching for oil. At the beginning of his career, the future billionaire noticed that all oil business is some kind of chaotic machine. He understood that only by putting things in order would he be able to think about some kind of commercial success. This is what he and his partner did. To begin with, the company's charter was created. In order to motivate employees, Rockefeller initially decided to refuse wages, rewarding them with shares. He believed that thanks to this they would work more actively, because they would consider themselves part of the company. Yes and them final income will depend on the success of the business.
The business began to generate income, and Rockefeller slowly began to buy up other oil companies. One at a time, small enterprises that could not cost too much. This strategy did not sit well with many Americans. Rockefeller negotiated with railroad companies to regulate transport prices, thus Standard Oil received lower prices than its competitors: it paid 10 cents for transporting a barrel of oil, while its competitors paid 35 cents, and the difference of 25 cents from each barrel went into Rockefeller’s pocket. Competitors could not resist him, Rockefeller gave them a choice: unite with him or go bankrupt. Most of them chose to join Standard Oil in exchange for a share of shares.
Be that as it may, by 1880, thanks to numerous small and medium-sized mergers, 95% of America's oil production ended up in Rockefeller's hands. Having become a monopolist, he acted according to the rule “it is easier for a monopolist to raise prices than to increase sales.” Standard Oil becomes at this time largest company in the world. True, not for long. In just 10 years, the famous Sherman Act against monopolies will be released. Rockefeller would respond by breaking Standard Oil into 34 small companies (in all of which he would have a controlling interest). Thanks to this law, John Rockefeller becomes even richer than before. By the way, it is worth noting that almost all of the current major oil companies came from Standard Oil. For example, this can be said about such giants as Mobile, Exxon, Chevron and others.
With age, Rockefeller's mind did not change. He ruled his empire with an iron fist: Standard Oil alone brought in three million dollars annually (which would be fifty million today). He owned sixteen railroad companies, six steel companies, nine real estate companies, six shipping companies, nine banks, and three orange groves—all of which produced abundant cash crops.
The future millionaire was born in July 1839, in Richford, New York. In addition to John, the family had five more children. The father of the family, in pursuit of income, did not shy away from dubious activities, such as trading in medicinal potions of unknown origin, disappearing from home for several months at a time. Caring for the children and home fell entirely on the shoulders of the mother, the zealous Protestant Eliza Davison. Never having complete confidence in the return of her unlucky husband to the family hearth, Eliza ran the household zealously and economically, teaching her children to work and thrift. One fine day, John's father disappeared from the life of the family completely, having married to a young girl and becoming a bigamist. However, by that time, 16-year-old John was already able to take care of himself.
Carier start
After graduating from high school, Rockefeller attended a 10-week business course at a business college, where he studied accounting. The education of the future millionaire was limited to this.
16-year-old John D. Rockefeller began his career as a clerk in Cleveland, in a textile store, with a salary of $5 a week.
In 1859, at the age of 19, he co-founded his first company with the young Englishman Maurice Clark. In the first year they earned 450 thousand. dollars - Clark was engaged in the supply of groceries, grain, hay and was looking for markets, while Rockefeller controlled office management, accounting and relationships with banks.
Rockefeller demonstrated his organizational genius from the very beginning. The firm prospered during the Civil War between 1861-65 between the North and South. Both partners were of conscription age and both paid their way out of military service. But the company managed to earn a tidy sum from supplies for the needs of the military.
Standard Oil Company
Meeting Samuel Andrews, who had knowledge of crude oil refining, gave the thoughts of the future multimillionaire a new direction. Andrews was convinced that the future lay in kerosene and he managed to infect Rockefeller with his conviction. Five years later, while still a partner in a grocery company, Rockefeller invested several thousand dollars in one of the rapidly developing oil refineries in Cleveland. The firm “Andrews and Clark” was founded, in which two years later Rockefeller became a senior partner, simultaneously buying out Clark’s share. The company becomes the largest oil refinery in Cleveland.
Thanks to financial assistance new partners Harkness and Flager (who also provided favorable discounts on rail transportation), the company outperformed most of its competitors in oil industry. An ordinary company founded in Ohio in 1870 by John D. Rockefeller, his brother William, Harkness, Flager and Andrews, called the Standard Oil Company, had a capital of 1 million. dollars, and a year later it already provided 40% of the profit. Soon the company controlled a tenth of all oil refining in the United States.
However, Rockefeller dreamed of a monopoly. He bought most processing plants in Cleveland, as well as New York, Philadelphia, Pittsburgh. He entered latest methods transportation, including rail tanks and pipelines. By 1879, the company refined 90% of American oil using its own fleet of trucks, ships, docking plants, packaging plants and warehouses. In the 1880s, the company began investing in the exploration and production of crude oil both in the United States and in Europe, Asia, and Latin America.
Beginning in 1885, a system of specialized committees was introduced to manage the huge Standard Oil empire, each of which oversaw its own segment: production managed production, purchasing handled purchases, etc. Nowadays, business structuring is an axiom, but in the days of Rockefeller, such a management apparatus was something unheard of and revolutionary.
The so-called "muckrakers" - journalists exposing corruption - Henry Demarest Lloyd and Ida Tarbell collected a lot of facts about the illegal and dubious transactions of Standard Oil. Rockefeller was criticized for railroad discounts, price fixing, bribery, and the takeover of small firms through unfair competition.
In 1911, after many years trials Supreme Court The United States decided to recognize Standard Oil as a monopoly subject to fragmentation. The company was broken into 34 smaller ones, and Rockefeller retained control of each of them. If before acceptance court decision The millionaire’s fortune was estimated at 300 million dollars, then two years later he was already “worth” 900 million. – the lost antitrust case became a new impetus for his career. More and more cars appeared on city streets, requiring everything more oil, which means more and more money flowed into Rockefeller’s pockets.
Family life and personal qualities
From childhood, a God-fearing and strict mother instilled in her son hard work and strong religious principles. John D. Rockefeller categorically did not drink alcohol, demanded the same from his employees, and regularly attended church. As a follower of the Baptist Church, he contributed 1/10 of his income throughout his life, following the church tithe rule. In some years, this share amounted to tens of millions of dollars.
In 1864 he was married to Laura Celestia Spelman. The young people were amazingly suited to each other - Mrs. Rockefeller was a pious Puritan who despised secular entertainment and adored church services. The marriage produced five children - the future heir to the empire, John Davison Rockefeller Jr. and his three sisters - Bessie, Edith and Laura. The family lost another daughter in infancy.
Experiencing a mystical craving for making money, in Everyday life Rockefeller had no bad habits or inclinations. Having amassed an incredible fortune, he had no intention of giving up his lifestyle. Rockefeller taught his children to work and thrift, just as his mother once did.
At the same time, huge sums were donated to charity. With Rockefeller's money, the University of Chicago and the Medical University named after him were founded in the USA, and charitable foundation, which is still in effect today. According to some estimates, John D. Rockefeller gave more than half a billion dollars to charity - the billionaire spent on good causes from his point of view as easily as he earned.
John Davison Rockefeller was born on July 8, 1839 in New York. When he was very young, the family moved to Pennsylvania. John D.'s mother raised him in the fear of God and in strict Baptist laws.
The father was an entrepreneur. Not always successful, but able to combine frequent risk with accumulation. There is an opinion that the ostentatious chic and egocentrism of the parent forced John Davison to avoid such an image in every possible way and strive for. Often the family lived in debt, which made John D. ashamed of his father (again according to some researchers). But there is also evidence from the future billionaire himself, which suggests that his father played a decisive positive role in John’s life:
He often bargained with me and bought various services from me. He taught me how to buy and sell. My father was just training me to get rich!
Rockefeller Sr. did not like physical labor and tried to earn money with his mind.
The father told his son about his business, explained the principles, and although he himself was not the most successful in business, his son managed to learn a lot from an early age. For example, judging by future career young man, he learned that morality and fairness in business are very relative concepts, and if there is a goal, then much can be sacrificed for the sake of it.
Studying at school was difficult for him, but hard work covered all the shortcomings.
Raising in religious family(according to) made John Davison a teetotaler who avoided gambling and dancing. Being the eldest child, he had to become the family breadwinner in his youth. The first job that John D. got was as an accounting assistant (before that, the boy worked part-time by feeding turkeys and working on a farm).
To get this job, John dropped out of college and took a three-month accounting course. This was his only paid job.
Having borrowed money from his father (at 10%), Rockefeller became a junior partner in an agricultural company, which he led to the business of refining oil into kerosene (which was becoming a very popular means for lighting lamps).
Creation of Standard Oil
John D.'s silence inspired the government to legalize the monopoly issue and dismember the Rockefeller empire. Despite this, John Davison's financial assets only increased from this: having divided Standard Oil into 34 small companies at the request of the authorities, he retained a controlling stake in all of them. Interestingly, most of the modern ones are descended from these 34 pieces of Standard Oil, such as ExxonMobil, .
Theodore Roosevelt launched a series of lawsuits against Standard Oil, which he relied on, which was allowed, Rockefeller-style, to buy up steel mills to create a United States Steel monopoly.
Richest man
To this day, John D. is considered the richest man on the planet and the most generous philanthropist (he paid for medical research; Chicago and Rockefeller universities were founded with his money). Back in 1917, Rockefeller's capital was 20% more than the annual US budget. No businessman has ever achieved such heights. He sponsored the construction of the UN headquarters in New York, which determined the enormous influence of the United States on this organization.
D. Rockefeller died at the age of 97. His family (clan) is still considered one of the most influential in the world.
The name John Rockefeller is known to almost every person. Few people in modern world I haven’t heard of his famous “12 golden rules”, which were invented a long time ago, but have not lost their relevance until today.
John Rockefeller was born on July 8, 1839 in New York State. The father practically did not raise his son, since almost all of him free time spent on entertainment and women of dubious reputation.
But my mother, on the contrary, put her whole soul into raising her beloved son. It was she, together with the priest, who instilled in the boy the basic principles of life from early childhood. Later, John Rockefeller spoke about economy and work: “Life is constant work. But the main thing is not only to earn money, you need to be able to save - this will help you save what you earn.”
When the billionaire passed away, Rockefeller's fortune was estimated at $1.4 billion. In 2006 prices, this amount was equivalent to 192 billion. What capital! Yes, perhaps it’s worth taking a closer look at the 12 Golden Rules.
The life principles that mother laid in little John Rockefeller back in early childhood, he was able to carry it through his entire life. They became the basis of the famous “12 golden rules”.
Little John made his first money by buying candy with his own money and then resell it. Well done, you say. Perhaps, but he sold them to his younger sisters. In this first small business The future billionaire was governed by the law of surplus value, the basic law of entrepreneurship. Little John on own experience I was convinced that buying in bulk means saving. This is how he learned to “make money” and learned the basics of trading - through practice, and not by reading economic works.
The money increased significantly. And yet, many teachers will probably find this way of earning money disgusting. Although for those who pass a disappointing verdict on a child who sells candy to his own sisters at a price higher than the purchase price, it is quite possible to object.
- Firstly, sweets are far from being an essential item; you can do without them.
- Secondly, perhaps the girls were simply too lazy to go to the store themselves to buy candy.
- Thirdly, they bought one piece of candy from their brother, thinking that this way they would spend less money on the treat.
The girls simply could not think as globally as their brother.
When John was seven years old, he decided to get into production, raising turkeys in his backyard and then selling them very profitably to his neighbors. This allowed the future multimillionaire to formulate one of the rules of doing business: any work brings income.
Then the future, or perhaps even the current, entrepreneur lent the $50 he earned to his neighbor, which brought him an additional 7% per annum. And as a pleasant bonus, there is one more rule of business: money should not lie idle - it must constantly “work”, generating income!
The hidden soulfulness of a multimillionaire philanthropist
Little John was not at all a callous and soulless child, but quite the contrary, he had a sensitive and vulnerable soul, capable of compassion and emotion. When his sister died, he was so shocked by this misfortune that he ran away from everyone, fell face down on the ground and lay there all day.
John Davis Rockefeller grew up, but remained just as sensitive and responsive. In his early youth, he was attracted to one girl from his class, but with whom nothing really worked out. Much later, she was left a widow and in dire need of money. John found out about this completely by accident and awarded the unfortunate woman a pension.
This is far from the only example of generosity shown by John. His mother was a deeply religious person and managed to instill in her son a sincere faith in God. Rockefeller regularly donated a tenth of his income to the church. In addition, he financed the construction of Spelman College, the University of Chicago, Rockefeller University, the Museum of Modern Art and many monasteries throughout the country. Through the Rockefeller Foundation, the richest man in the world donated fabulous sums for the development of medicine. He, in particular, financed numerous projects to combat yellow fever. In all cases of charitable donations, John Davis Rockefeller required that his participation in a particular program remain a secret from the public.
The descendants of the outstanding founder of the Rockefeller clan continue to be actively involved in charity work today. The tithe law became one of John Rockefeller's 12 Golden Rules.
A negative example is also an example
John Rockefeller, while still just a child, learned several more rules that he did not change even as an adult. The boy's father drank constantly, causing John's mother to suffer from it all her life. Healthy image life became one of Rockefeller’s rules, following which he completely abandoned alcohol and tobacco.
The father, by his example, “taught” his son another rule. The boy spent his entire childhood observing his father’s wild lifestyle and made a firm decision for himself never to repeat such mistakes. " Negative example"worked 100%, and Rockefeller became an exemplary father and faithful husband.
John owes his father the most important rule of doing business, about which the billionaire himself said: “He often bargained with me and bought various services from me. He taught me how to buy and sell. My father was simply “training” me to get rich!”
Businessmen are not born, they are raised
John Rockefeller was married only once to Laura Celestina Spelman, with whom they had four children: three daughters and a son. John loved his wife very much and remained faithful to her throughout his life. He said that without Laura's advice he would never have been able to achieve such success; he would simply be doomed to poverty.
The approach to raising children in the Rockefeller family was very original and was based, naturally, on the “12 golden rules” of the father of the family.
The entire organization of the life of the little Rockefellers was based on work. But John instilled a love of work in his children through material incentives. For example, each child received a few cents for killing a fly, sharpening a pencil, getting a good grade in school, or studying music. Work in the garden beds was especially highly valued.
Second rule education was to teach children to be unpretentious, and again through monetary bonuses. If you gave up candy for the whole day, you could count on an additional reward.
Third rule involved instilling precision, accuracy and responsibility in children. Anyone who was late to the table, did not carry out an assignment, or simply did not obey had to pay a fine.
The young Rockefellers lived in some semblance market economy. One of the daughters, Laura, played the role of “company director”. She, along with the other children, kept her own ledger, wrote reports and kept balance sheets.
Rockefeller Sr. believed that without the ability to save correctly it is simply impossible to achieve success. It's no surprise that this became one of the "12 Golden Rules."
John Rockefeller's success story
At one time, John Rockefeller often said: “To achieve success, you need to work not only with your hands, but also with your head.” The success story of the multimillionaire himself became a vivid illustration of this rule.
When John turned 16, he decided not to go to college, but to go straight to work. The Rockefeller family then lived in Cleveland, where the young man completed a three-month accounting course and immediately began searching for a suitable place. Luck smiled at him only a month and a half later, when John was offered the position of assistant accountant at the Hewitt and Tuttle trading company. The career of a talented young specialist took off and after some time he was offered the position of chief accountant. But bad luck, Rockefeller’s salary in his new place was supposed to be several times lower than that of his predecessor, which offended him terribly. Pride did not allow John to accept such a humiliating offer in his opinion.
This was Rockefeller's only experience as an employee. After that, he was always his own boss and subordinate, which allowed him to achieve such amazing success.
In 1861, the USA began Civil War. Then John Rockefeller, together with his partner, Clark, was engaged in supplying pork, flour, salt and other products to regular army units. During four years of hostilities, they managed to make a decent fortune.
But the real breakthrough for the business partners was the discovery of oil deposits near Cleveland. In 1864, Clark and Rockefeller were already trading Pennsylvania oil with all their might. John realized that this was a real Goldmine” and suggested that Clark concentrate his entire business on selling oil, but he refused due to the banal fear of “burning out.” Rockefeller was not one to give in to difficulties. Having been refused, the future billionaire bought out his partner’s share in the joint venture for $72.5 thousand and focused all his attention on the oil business.
All future life John Rockefeller can easily be written in just a few lines. 1870 - founded the Standard Oil company, becoming its manager. 1897 - John Rockefeller retired.
Today the Rockefellers combined their fortune with another richest dynasty, Rothschilds. But the descendants of John Rockefeller, a talented entrepreneur, multimillionaire, never received higher education, his “12 golden rules” are still remembered and revered.
If you want to be rich, be it!
So, what are these magical “12 golden rules”? In fact, these are just quotes from John Rockefeller. But everyone who wants to be rich and successful must know, remember, understand and accept them.
- Work less for others. The more you work for others, the faster you lose money. “Work” comes from the word “slave.”
- The ability to save is a step towards success. Buy goods strictly according to the list, which must be prepared in advance. You need to buy in bulk or wherever it is cheaper.
- If you don't have money, it's time to start a business. If there is no money at all, you need to do this as quickly as possible.
- Success and great wealth come through passive income.
- Dream big. For example, earn at least 50 thousand dollars a month.
- Other people bring us money. If you want to be rich, be friendly. An unsociable person cannot count on success.
- Surround yourself with winners and optimists. A poor environment is a direct path to poverty.
- There are no and cannot be excuses for postponing the first step towards your goal.
- Read more about rich people. Success stories and thoughts successful people will help you fulfill your desires.
- Dream and believe that your dreams will come true. If you stop dreaming, you will start dying.
- Help those in need. Help not for money, but just because. Give 10% of your income to charity.
- Build your business and enjoy the money you earn. You need to work in order to live, and not “put money under the mattress.”
These rules became “golden” because they were actually tested by the first richest man in the world. They will never lose their relevance.
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