40 facts about John D. Rockefeller, the richest American of all time

40 facts about John D. Rockefeller, the richest American of all time

Larry Holzwarth - July 5, 2019

40 facts about John D. Rockefeller, the richest American of all time
Rockefeller’s manipulation of shipping rates were a primary feature of his business practices throughout his career. Wikimedia

15. Rockefeller grew more ruthless following the end of the railroad cartel

As the year 1872 began, 26 oil companies operated refineries in Cleveland, Ohio. During a period of just under four months that year, Standard Oil took over 22 of them. Rockefeller was driven as much by his contempt for inefficiency and waste as he was by greed. His tactics were less than savory, he often resorted to secret deals with competing refineries, pitting one against the other before acquiring both. As he reduced the competition, and thus the size of the body which could complain about his business practices, he continued to manipulate the railroads against each other to obtain more favorable shipping rates for his company, and then buying the smaller refiners which could not afford to pay them to compete. He continued to maintain the goodwill of consumers by driving down kerosene prices for personal use, making Standard Oil one of the most well-known consumer brands in the country.

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