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How Rockefeller Built His Trillion Dollar Oil Empire

How Rockefeller Built His Trillion Dollar Oil Empire


When you look at the wealthiest men alive
today, topping the charts are tech billionaires like Jeff Bezos and Bill Gates. But actually, the wealthiest businessman to
have ever lived died almost a century ago. In today’s video we’ll be looking at a
business empire so vast that even after a hundred years of technological progress, no
man has managed to overtake its founder. This is the history of Standard Oil. This video was brought to you by Dollar Shave
Club. Visit the link in the description to learn
about the awesome deal they’re offering. The origins of history’s greatest oil monopoly
are actually pretty humble. It all starts in 1839 with the birth of John
Rockefeller in upstate New York. He was the eldest son of a travelling merchant,
who identified himself as a “botanic physician”, but in reality was selling the 19th century
equivalent of homeopathic medicine. He would spend weeks away from home and in
fact would have several children with another woman, who he decided to bring back home to
his wife so they could all live together. In this very confusing household, John would
grow up learning how to hustle people for the best deal possible and how to get the
most out of every penny he got. His family would rarely stay in one place
for long, and John would live this nomadic lifestyle ever since he was three years old. To help his mother, John would earn any money
he could by raising turkeys or doing work for neighbors. His intelligence was put to good use when
the family moved to Cleveland, Ohio in 1854, where he got the chance to attend a proper
school. But less than a year later, John dropped out
in order to work as a bookkeeper at a local produce broker. He would earn $0.50 per day, which obviously
wasn’t much at the time so he would help other companies on the side. But after two years of working there his bosses
refused to give him a meaningful raise, so he decided to one-up them by starting his
own produce brokerage. Thanks to his good reputation he got a loan
of $4,000 which at the time was a huge sum. John started trading hay, grain and various
meats, and in his first year he recorded sales of half a million dollars, of which he only
got a small fraction as commissions, but still it was a huge success. Every bank in Cleveland was begging John to
borrow money and he was barely 18 years old. But then, in 1859 something happened that
would change his life forever. Just a hundred miles east of Cleveland, the
first American oil well had been discovered. This marked the beginning of the Pennsylvania
oil rush and within a year 4,500 barrels of oil would be produced. Now, back then oil wasn’t quite as valuable
as it today; gasoline cars hadn’t been invented yet, but oil could still be processed into
kerosene, which people would then use in lamps. John realized, however, that the biggest profits
to be had weren’t in drilling for oil, but in refining it. He witnessed many people going bust before
striking oil, so he knew that that business was too risky for him. Instead, he’d let others go through the
hassle of finding the oil and he would just buy it off of them. John had to wait until 1863 for the government
to build a rail line connecting the Pennsylvania oil fields to Cleveland. But when that line was built, John was ready
for it with a long line of partners and banks ready to back him up. He also assembled a team of seasoned chemists
and engineers, who not only optimized the refining process but also discovered various
uses for the byproducts of refining petroleum. You see, the early refineries in Cleveland
could only operate at about 60% efficiency, but John not increased that percentage, he
also started selling all the byproducts, like paraffin wax, tar and naphtha. Within two years the Rockefeller refinery
was worth over seventy thousand dollars and was among the largest in Cleveland. But John wasn’t done: in 1865 there were
26 competing refineries but within 5 years John had acquired all but 4 of them. By this point his business was getting too
big to handle as a partnership, so in 1870 he incorporated as Standard Oil of Ohio. To convince the few remaining competitors
in Cleveland, John would simply invite them over and show them his books, revealing that
he could operate at a loss far longer than they could stay solvent. In exchange for a good buyout price, John
would offer his competitors positions in his own company, thus placing the brightest minds
in the industry under his control. Of course, not everyone would give up immediately,
and over time John eroded the price of oil and kerosene, sometimes by as much as 80%,
in order to strangle competitors. Unsurprisingly, his strategy worked: by 1880
he had acquired refineries across the Northeastern US and was refining over 90% of the entire
country’s oil production. At this point John was so powerful that he
would invite the owners of the big rail companies and personally negotiate rebates for using
their trains. But this practice of negotiating backroom
deals really got the business world riled up. At the time (and still kind of today) most
industrial goods were transported by rail, and many big industrialists got worried that
John’s abuse of transportation rebates could result in similar monopolization in their
industries. Over the next decade businessmen, politicians
and the media would attack Standard Oil with increasing ferocity. Legislators in Ohio began drafting antitrust
regulations to bring down Rockefeller, but he was one step ahead. In 1882 he reincorporated in New Jersey, this
time creating the Standard Oil Trust, which in turn held stakes in over 40 local companies. Then, to showcase his success John built an
impressive headquarters for his company on Broadway. This moment was the highpoint of Rockefeller’s
Standard Oil: he owned 20,000 oil wells, 4,000 miles of pipeline, and employed over a 100,000
people. But, his grip on the oil industry was loosening,
both domestically and abroad. Massive oil deposits had been discovered in
Russia and in Asia, and were being developed by the Rothschild family, which spared no
effort in getting that oil to America. Worse yet, in 1890 the federal government
passed the Sherman Antitrust Act, which finally gave politicians the teeth to go after the
Standard Oil Trust itself. Of course, the complex legal structure behind
all the companies was very difficult to investigate, which is why it the government couldn’t
actually break up Standard Oil until 1911. By that point, however, John Rockefeller had
already cashed in and was no longer actively managing the company. In the final 20 years of his company’s existence,
it had paid out over half a billion dollars in dividends. By some estimates the true worth of Standard
Oil at its peak was $1 trillion, so the breakup didn’t really come as a surprise to most
people. In 1911 the Supreme Court found Standard Oil
guilty of anticompetitive practices and broke the company up into 34 separate entities. Of course, John Rockefeller kept his stake
in those companies until his death and in fact it turns out that the breakup was the
most profitable event in his life. You see, over time many of those companies
merged back with one another. Today, most of the Standard remnants are part
of either ExxonMobil, Chevron or BP, which have since become incredibly large companies
in their own right. John Rockefeller’s ownership of these successor
companies made him the richest businessman to have ever lived, with an estimated net
worth of $400 billion. Even today, no one has beaten Rockefeller
in the leaderboard; not even Jeff Bezos himself seems likely to achieve that. But there’s one thing that Jeff Bezos does
have that John Rockefeller never did despite all his money and that is access to Dollar
Shave Club. I mean look at him, it’s clear that this
man cares very much about looking and feeling at his very best. But guess what? You too can experience the splendor of Dollar
Shave Club’s Daily Essential Starter Set, which by the way new members can get for just
$5. That set includes Shave Butter, Body Wash,
and One Wipe Charlies’ Butt Wipes to really make you feel special. And if that wasn’t enough you’ll also
get their Executive Razor, so really you’ll be getting a heck of a deal. Visit dollarshaveclub.com/businesscasual to
become a member of a club so prestigious that not even John Rockefeller could get in. In any case, thank you for watching and huge
thanks to all my patrons on Patreon. If you wanna support me on there you can get
early access to future videos or HD versions of the soundtracks I use in Business Casual. Anyhow, we’ll see each other again in two
weeks, and until then, stay smart.

Comments (100)

  1. 6:13 trap spotted!

  2. Karoscene used in lamps AND HEAT.

  3. Ok explain to me why you put some anime girl in the picture at 6:14 ?

  4. I could use your ad transition as sexual lubrican

  5. One of the biggest crooks of the oil Mafia they paid billions of bribe money to politician to ban electric car's , so normally everyone who suffer lung cancer can start a lawsuit against these crooks , there is no honest billionaire in the USA , they are all fucking the system and walk over dead bodies , Mafia first class

  6. He built it through the expense of war and CIA back coup in those oil rich countries

  7. Isnt monopol the resultat of competetion

  8. The company split up to make other companies and to make the owners of those compnaies rich and its all because of rockefeller

  9. What Rockefeller don't have -:)

  10. best plug ive ever.

  11. LMFAO THAT AD TRANSITION

  12. How Rockefeller Built His Trillion Dollar Oil Empire?

    Satan.

  13. Rockefeller died of aids that was the end of his chapter and this is what you decided to name yo company after ๐Ÿ˜•๐Ÿ˜•๐Ÿ˜•๐Ÿ˜•๐Ÿ˜•๐Ÿ˜•๐Ÿ˜•

  14. ๆญทๅฒ้‡ๅฏซ๏ผš
    ๆญทๅฒไธŠ๏ผ
    ๅ…จไธ–็•Œๆœ€ๆœ‰้Œข็š„ไบบๅ…จ้ƒจ้ƒฝ็ตฆไธ€ๅ€‹ไบบ๏ผŸ
    666 โ‹ฏ 629 โ‹ฏ
    ้ฃ›็‹ผ ๏ผ ่‰ฒ็‹ผ ๏ผŸ
    flying wolf
    629wolf
    ้ปƒไธ–ๅฎๅฏ„ๅ‡บ
    mike milken ็š„ๅญธ็”Ÿ
    ้ปƒ็…งๅœ‹ๅปบ็ฏ‰ๅธซๆœ€็–ผๆ„›ๆœ€ๆ ฝๅŸน็š„้•ทๅญ
    ้ฃ›็‹ผ flying wolf
    629wolf

  15. Do this Channel ever put out any videos containing some real truths instead of half truths ?
    The whole Rockefeller family is a generational satanic family. John D Rockefeller was a ruthless and evil businessman who's lifes purpose was to gains as much control and and as much influence he ever could in his lifetime. He did a good job and now his Work has been passed on to be further progressed by his sons.
    David Rockefeller himself is quoted for saying that his familys true goal is to achieve a one World government, and one World Order with centralised control over the entirety of humanity.

    Don't believe me? Then i suggest You try and research it for yourselves โœŒ๏ธ

    Much love โค๏ธ

  16. Cez.sebira.chexnia

  17. "Dollar shaveclub is so EXCLUSIVE not even dead people can join!" xD

  18. 1. Be a jew
    2. Profit

  19. Don't really understand why peoples hate this hard working rockefeller.

  20. jeff bezos probably owns dollar shave club

  21. Funding the militia and making them invade key Countries, that's how!! They still do it today. That is why a lot of "soldiers" commit suicide…the thought of them been retarded enough to think they go to this countries to kill families in the name of their country and patriotism; only to find out they are on a private criminal expedition for this mother fuckers most be a hard pill to swallow.

  22. Have you forgotten about mansa musa being the most richest to ever lived

  23. John D. Rockefeller … OK … What about Andrew Carnegie?

  24. The wealthiest business man was/is/and always will be Mansa Musa and unlike these blood sucking evil worshipers Free-Masons, he was a good man..

  25. One of the Greatest thugs of all time. Employed evil dealings through out his business career which forced him to break up his monopoly. Crude is not a fossil fuel. The planet makes the stuff in the billions of barrels every years and these Cartels make trillions every year

  26. Don't smoke, invest in a good education, never co-sign on a loan, read more & watch less TV, don't get married, get up early, get a library card & use it, max out 401 k at work, exercise daily, be careful who you bring into your life, pay off debt asap, preplan your day, never lend money, listen to positive audio books, google mgtow, study investing & wealth, avoid negative people, pay your bills on time & improve your credit score, get organized, learn meditation, don't wait to take action, never marry a illegal immigrant that needs a green card, eat healthy food, max out IRA Roth every year, consider tech/trade school, listen more than you talk, always strive for self improvement, take good care of your teeth, be open to new ideas & keep learning, live frugal, automatically invest 20% of income, control your emotions.

  27. Rockefeller was worth $24 billion in today's dollars at his death.

  28. may i know what the soundtrack used? really great job explaining oil tycoon.

  29. The ad was a brilliant move I will give u that

  30. 5:10 was prolly the New York Ontario and Western.

  31. Holy fuck!! That add was worth watching this video. Good work mate!

  32. ๐ŸŒ๐Ÿ›๐Ÿ•ฏ๐Ÿ’ก๐Ÿ’ฐ๐Ÿ’ด๐Ÿ—ณ๐Ÿ”ฎ

  33. How come there are no longer oil tycoons and railroad tycoons anymore?

  34. Mansa Musa of Mali was the richest

  35. Fuck Rockefeller, shave club is the best

  36. Who else seen the "dietz nuts" ad? ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

  37. He almost sold me on the Dollar Shave Club….that was genius!

  38. Lmao, I did not see that coming…

  39. The Dutch East India company head would've laughed while seeing this…

  40. Nonsense, the Rothschilds are the wealthiest family on the planet

  41. Dollar Shave Club Yay! ๐Ÿ˜€

  42. hahah "dollar shave club" i didnt see that coming..๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

  43. Rockefeller another white person inventor notice all the inventors are white people because white people have invented everything and anything ever !

  44. Mansa Musa was the richest ever lived

  45. And it all started with one apple. Everybody was against this young genius, but he did it all alone and with no connections.

  46. The government didn't build the railroad, unless the Vanderbilts' were the government. The government had nothing to do with the railroads. The best series on Rockefeller, Carnegie, Vanderbilts, JP Morgan, and Ford is The Men Who Built America, which can be seen on Amazon Prime that was created by that guy as seen in that slick ad at the end of this video.

  47. Totally had me with that ad. Wow, amazing

  48. This guy is so effing good at transitioning to ads

  49. Through theft, violence and lies. That's how he built it

  50. Best Segway to an ad in history!

  51. These are the dudes behind changing what was already in place, to something which made MORE millionaires and billionaires, thereby expanding their 'mateship' amongst those who in truth could NEVER have been billionaires at all.
    America, is responsible for altering the decimal point.
    What was once one million times one million = one billion, was reversed by the Rothschilds, Morgans, and Rockefellers, before public education was 'introduced'. Now you only need one million times 1000 = one billion. Whaaa?????
    Once upon a time, you needed one million times one million to make a Billion, but oh no! America, the home of Liars, Cheats, and Thieves, decided to change the rules!

  52. the main purpose was the ad.

  53. Your voice is beautiful !!!๐Ÿ‘๐Ÿ‘

  54. My teacher showed this to us and I cringed when I saw the anime girl at 6:12

  55. A man who got rich from the blood of the civil war

  56. Just like Rockefeller monopolized the oil market. He did the same thing to politicians

  57. over a year late to the party…………….but that transition….hahahahahahahahahahahaha

  58. Wow. That was the champion of ad transitions! Who else was impressed? ๐Ÿ˜…

  59. He had 400 billion dollars.

    IN 2017!! Well everyone let's blow this clickbait.

  60. Time will only tell that this ad transition and promotion was one of the best of its time…If Rockefeller would have seen this ad he would've bought the entire company and add it to his empire.

  61. A lawyer with a briefcase can rob more than a hundred men with guns- Mario Puzo

  62. an awesome,legendary transition ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

  63. I fucking died when you said Jeff Bezos has access to dollar shave club. Well played well played

  64. The anime girl in the picture lmao

  65. Because he NEVER PAID TAXES AND union. That why they become bilioners THEN. What be happened TODAY?

  66. Black Hawk's Surrender Speech, 1832:An Indian who is as bad as the white men, could not live in our nation; he would be put to death, and eat [sic] up by the wolves. The white men are bad school-masters; they carry false looks, and deal in false actions; they smile in the face of the poor Indian to cheat him; they shake them by the hand to gain their confidence, to make them drunk, to deceive them, and ruin our wives. We told them to let us alone; but they followed on and beset our paths, and they coiled themselves among us like the snake. They poisoned us by their touch. We were not safe. We lived in danger. We were becoming like them, hypocrites and liars, adulterers, lazy drones, all talkers, and no workers.

  67. The Criminal international globalist Gangster Bankers set in motion in 1913 in Amerika, a private bank of issue whose misnomer name was carefully chosen by Paul Warburg as "federal reserve" was specifically created to cheat and steal from American workers out of their hard earned PROSPERITY…while starting every war and depression and gold scam caper in 1934 onn threat of fine and imprisonment lying to the multitudes saying it was for the country's good, while the exact opposite took place with these monies going into the pockets of these criminal bankers…And AINT NOTHING EVER CHANGED…people are still stupid and asleep to their Crimes against humanity…

  68. America ' s been GETTING SHAVED REAL GOOD SINCE 12–23–1913…

  69. Is he the owner of rockefeller center ??

  70. and there goes publicity hahaha

  71. It must suck to face a holy and perfect living and holy living GOD

  72. Will Satan be giving the Rockefellers, any back room deals? The world banks still back most. Unfortunately, their backing is Behind you, with your pants around ankles.๐Ÿค‘

  73. You think Cleveland is a Dump today, imagine back when all the refineries were in operation๐Ÿค”Used to know a guy who would say, "Cleveland is the armpit of America. "

  74. I called Jeff Bezos, he said this is fake news! ๐Ÿ˜

  75. look in a sane society he would be blocked and competed with by those who in this world were shut down due to bullshit, still … props to him

  76. from the begging i can tell this video is made to cover the real story how that thing became rich… ask satan…

  77. Absolutely priceless piece of advertisement. Bravo sir. Phenomenal ๐Ÿ˜‚

  78. Net worth of 170 billion…. Uses Dollar Shave Club……I'm not buying it Chief.

  79. I think this guy the commentator of the video is the owner of the Dollar Shave Club

  80. People who "disliked" this video I'm sure must dislike "success" ๐Ÿค”

  81. Man who edits this?! Incredible!

  82. Bullshit he made that money from war and killing people and robbing people and their countries.

  83. Notice that they are white Jewish capitalists

  84. god damn dollar shave club… ur funny subscribe

  85. 2% comments: talking about how he succed

    1% : writing what i write

    97% : tHat TRansSiTioN tO tHe Ad waS amaZiNg DUdE!

  86. Why is there a cartoon chick in 6:12??

  87. DOLLAR SHAVE CLUB AND BUTT WIPES๐Ÿ˜‚

  88. do a video on Andrew Carnegie

  89. Jeff Bezos will be a trillionaire by 2030

  90. By stealing and killing people for oil

  91. Wish all the best to followers of His

  92. Mans deserver some capitals name at least with His signame

  93. Why He wasnt president of states chosen would be majortiest

  94. Deserve star on usa flag or stripe at least

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