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He made a series of incredibly smart investments, each taking him to new heights (financially). I believe his first business was a food distribution company.
by rckclmbr 12y ago
He made a series of incredibly smart investments, each taking him to new heights (financially). I believe his first business was a food distribution company. He used the small gains there, along with borrowing money from his father, to invest in oil. He invested a large amount of money in becoming hyper-efficient in refining. During the Great Depression, he bought a large chunk Manhattan (yes, the island) at dirt cheap prices. He did a lot more than just sat back and watched his money grow. He made smart decisions at the right times.
People always give him crap about his pushy business tactics (exclusive pricing with railroads, bullying competitors into selling), but he was MUCH more than just a mobster.
- saryant 12y agoI was referring to the fact that the total value of the Standard descendants far exceeded that of Standard prior to the breakup. Part of that is attributable to the growing American economy at the time but also the intense competition that flowered between the baby Standards. I would say I have a more favorable opinion of Rockefeller than most. Some of his tactics were certainly dirty but he was also a brilliant businessman and his philanthropy was responsible for some major medical advances. Note that Gates has consulted with Rockefeller's descendants in that arena.