John D. Rockefeller: King of Industry
John D. Rockefeller was the co-founder of the Standard Oil company. This company started in Ohio. As the company expands, it put out the competition either by buying it or lowering their prices so they gain all of the customers and then raising the prices back to normal. By using this method he was able to make the company produce 90% of the U.S. oil. Eventually Rockefeller decided to create a trust for his company.
Believing that this trust set-up was corrupt, the U.S. government intervened. President Roosevelt attacked these large businesses including standard oil. The supreme court ordered the split of Standard Oil into many different company's. Today, the company is forming back together into Exxon Mobil.
Believing that this trust set-up was corrupt, the U.S. government intervened. President Roosevelt attacked these large businesses including standard oil. The supreme court ordered the split of Standard Oil into many different company's. Today, the company is forming back together into Exxon Mobil.