Title: John D. Rockefeller - Wikipedia
Headings: John D. Rockefeller
John D. Rockefeller
Contents
Early life
Pre-Standard Oil career
As a bookkeeper
Business partnership and Civil War service
Beginning in the oil business
Standard Oil
Founding and early growth
Monopoly
Colorado Fuel and Iron
Strike of 1913–14 and the Ludlow Massacre
Illnesses and death
Personal life
Family
Marriage
Religious views
Philanthropy
Florida home
Legacy
Wealth
See also
Notes
References
Bibliography
External links

Content: In the end it turned out that the individual segments of the company were worth more than the entire company was when it was one entity — the sum of the parts were worth more than the whole – as shares of these doubled and tripled in value in their early years. Consequently, Rockefeller became the country's first billionaire, with a fortune worth nearly 2% of the national economy. His personal wealth was estimated in 1913 at $900 million, which was almost 3% of the US GDP of $39.1 billion that year. That was his peak net worth, and amounts to US$418 billion (in 2019 dollars; inflation-adjusted). Rockefeller spent much of the last 40 years of his life in retirement at Kykuit, his estate in Westchester County, New York, defining the structure of modern philanthropy, along with other key industrialists such as steel magnate Andrew Carnegie. His fortune was mainly used to create the modern systematic approach of targeted philanthropy through the creation of foundations that had a major effect on medicine, education, and scientific research. His foundations pioneered developments in medical research and were instrumental in the near-eradication of hookworm and yellow fever in the United States. He and Carnegie gave form and impetus through their charities to the work of Abraham Flexner, who in his essay "Medical Education in America" emphatically endowed empiricism as the basis for the US medical system of the 20th century. Rockefeller was also the founder of the University of Chicago and Rockefeller University and funded the establishment of Central Philippine University in the Philippines.