John D Rockefeller was a tycoon with 1.4 billion dollars of his olden day money that today translates to a $400+ billion net worth.
EDIT:. While this is up: please listen to linguistics MIT professor Noam Chomsky’s Requiem for The American Dream where he details how the “masters of society” use deliberate and meticulous abuse through the system to control the masses and amass wealth to the 1% of the 1%
Different sources state contradicting numbers: from JDR’s wealth today being compared anywhere from $24B-$400B. Bottom line, he was a billionaire elite who was directly involved in politics during his time: influencing the landscape of the government that would affect American people years down the line, particularly through the Standard Oil Company.
Rockefeller’s aggressive business practices led to the establishment of a near-complete monopoly in the oil industry. Standard Oil controlled up to 90% of the U.S. oil market at its peak
Standard Oil used tactics such as predatory pricing, intimidation, and rebates with railroads to destroy competitors. These practices led to public backlash and the eventual passage of antitrust laws, including the Sherman Antitrust Act of 1890, which aimed to curb monopolistic behaviors.
Standard Oil’s wealth allowed it to wield enormous influence over politics, leading to accusations of political corruption.
L0veConnects on December 14th, 2024 at 20:28 UTC »
Bugger got his wish.
kebomim on December 14th, 2024 at 20:31 UTC »
John D Rockefeller was a tycoon with 1.4 billion dollars of his olden day money that today translates to a $400+ billion net worth.
EDIT:. While this is up: please listen to linguistics MIT professor Noam Chomsky’s Requiem for The American Dream where he details how the “masters of society” use deliberate and meticulous abuse through the system to control the masses and amass wealth to the 1% of the 1%
Different sources state contradicting numbers: from JDR’s wealth today being compared anywhere from $24B-$400B. Bottom line, he was a billionaire elite who was directly involved in politics during his time: influencing the landscape of the government that would affect American people years down the line, particularly through the Standard Oil Company.
Rockefeller’s aggressive business practices led to the establishment of a near-complete monopoly in the oil industry. Standard Oil controlled up to 90% of the U.S. oil market at its peak
Standard Oil used tactics such as predatory pricing, intimidation, and rebates with railroads to destroy competitors. These practices led to public backlash and the eventual passage of antitrust laws, including the Sherman Antitrust Act of 1890, which aimed to curb monopolistic behaviors.
Standard Oil’s wealth allowed it to wield enormous influence over politics, leading to accusations of political corruption.
LateralEntry on December 14th, 2024 at 22:18 UTC »
Even better was his friend Arthur Vanderbilt, who reportedly said, “I can always pay one half of the poor to kill the other half”