Question

What was the significance of John D Rockefeller in the rise of trusts and monopolies?

Answer 1

John Davison Rockefeller was an entrepreneur and investor, industrialist, who worked in the world of the oil industry, reaching the point of monopolizing it. He was the founder and president of Standard Oil, a giant company that came to control the extraction, refining, transportation and distribution of more than 90% of US oil and held entire monopolies (in the form of investments) in multiple foreign countries.

His business achievements are as magnificent as they are controversial, because through cunning, ingenuity and a lot of dedication, he ascended in the business world, he built an extensive empire that extended to such an extent that no other company in history has managed to reach to this day. Noted for its monopolistic practices, it was denounced by journalists and investigators, and in the long run the United States government had to confront him, managing to take it to court and after years of litigation it was decided to separate the giant oil company from Rockefeller, separation that took a long time to materialize after being dictated.