| John D. Rockefeller, the first billionaire in America who was very famous in late 19th and early 20th century. He was in the stage when America was on its way to transform from free competition to monopoly and the appearance of big corporation. He put forward the idea of establishing Trust to face the economic challenge of transformation which led the monopoly to America. Oil Trust was the way from which he accumulated large wealth for his family. Benevolent Trust that he organized in his late years dispersed the wealth not only obtained good reputation for his family but also kept the wealth for his offspring. There are three parts in the dissertation.In Part One the author expatiated the course of John D. Rockefeller's course of growing and studied the reasons of his success as well as the influence of his family to American society. John D. Rockefeller was a bookkeeper when he graduated from middle school, then he began to open the firm of Clark and Rockefeller, Produce and Commission. In 1863 he went into Oil by establishing a refinery. In 1870 Rockefeller's company was incorporated into the Standard Oil Company. In 1882 the Standard Oil Trust established from which Rockefeller controlled almost the whole American oil field and accumulated large wealth. The Standard Oil Trust led America enterprise into a new stage—monopoly. From then on every walk of life in America emerged this kind of organization.With the vast wealth, Rockefeller focused on philanthropy in his late days through which he dispersed his wealth. He used scientific management method to manage his philanthropy and formed the Benevolent Trust which was the last of his Oil Trust. His philanthropy was all over the world which made great contributions to both American and world education, medical treatment and sanitation.The reasons that caused Rockefeller succeed are:1.Social elements: Rockefeller grew under the American industrial society and the government influence. The new rising industries trained persons with ability like Rockefeller while the government policy provided him the chance to be successful.2.Family surrounding is also the important factor to drive him to be successful. His mother's thrift as well as his father's keeping faith and practicality business rules affected him a lot.3.Religion reason is another important element. With the effect of religion ,Rockefeller formed a habit of self- examination and thrift. Complied rule of keeping faith Took shape of benevolent consciousness which made him take himself as God's wealth trustee and have duty to use earned money to do benefit to others.4.Rockefeller's success should owe to his own personal diathesis. He used persons with ability. He had preciseness, incommunicative character, with his innovative method and scientific management, all that are the basis of his success.Rockefeller accumulated vast wealth through his Oil Trust on which Rockefeller Consortium was formed. At the same time, his Benevolent Trust enlarged the influence of his family which affected American society, economy, culture a lot.In Part Two the author mainly introduced Rockefeller's method of accumulating wealth---Oil Trust whose course of establishing and the reasons of dissolving. The Oil Company ordered the disorder of oil market. His holding company made a model for the modern corporation management. South Improvement Company affair made him become a target of public that didn't stop him from enlarging his Oil Kingdom which controlled 90% of American refineries and oil pipelines accompanying with his private wealth increased largely.As his Oil Company became larger and larger, Rockefeller planed on using a new kind of running principle to manage his company. With the help of a lawyer named Dodd, he led the monopoly of Trust into oil field, that is the Standard Oil Trust which appeared at the stage when American industry developed at very fast speed. In oil field disengaged and small firms competed freely which caused a great waste of resource. So Oil Trust insteaded of them and preven... |
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