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John Rockefeller
Oil Baron
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John Rockefeller revolutionized the oil industry and defined the structure of modern philanthropy. He strongly believed that his purpose in life was to make as much money as possible and then use it wisely to improve the lot of mankind. In 1870, Rockefeller founded the Standard Oil Company. He kept his stock and as gasoline grew in national importance, his wealth soared and he became the world's first billionaire. Standard Oil was convicted in the Federal Court of monopolistic practices and broken up in 1911. Rockefeller spent the last forty years of his life creating the modern systematic approach of targeted philanthropy, creating foundations that had a major impact on medicine, education, and scientific research. His foundations pioneered the development of medical research and was instrumental in the eradication of the widely disliked hookworm and yellow fever.
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