Question

How did Rockefeller acquire his wealth?

Answer 1

Answer:

John Rockefeller not only sold refined crude oil but he also squeezed profits from byproducts like paraffin wax, tar, and naphtha.

Answer 2

Rockefeller founded the Standard Oil Company in 1870. He ran it until 1897, and remained its largest shareholder. Rockefeller's wealth soared as kerosene and gasoline grew in importance, and he became the richest person in the country, controlling 90% of all oil in the United States at his peak