Question

How was Rockefeller able to build his monopoly across the oil industry?

Answer 1

This Question has 3 parts so I am going to answer then all right now.

1) He bought up oil refineries, cut costs, and reinvested his profits in other refineries.

2) To grow his corporation, Rockefeller designed a new type of company called a TRUST

3) A trust is a large company or combined businesses that together control a specific market

Answer 2

Rockefeller was able to build his monopoly across the oil industry since he bought up oil refineries, cut costs, and reinvested his profits in other refineries.

Rockefeller was an American oil industry business magnate, industrialist, as well as philanthropist. He is widely regarded to as the wealthiest American of all time, and the richest person in modern history.

Rockefeller's wealth sky rocketed as kerosene and gasoline grew in importance, and he turnt into the richest person in the country, controlling 90% of all oil in the United States at his peak.