2+Group+3+Robber+Barons

This ultimately spawned another problem, Standard Oil owned a mind-shattering 64% of the market (while in comparison, there are about 20% market share which is still considered large). People were outraged as to how much of a profit the company was making (even though oil was cheaper than ever). Finally, the US government had to step in and deconstruct the behemoth, spawning a variety of common day oil conglomerates (Exxon being the most famed). Rockefeller was worth 1.5 billion dollars at time of death. His strategies for running his company is still used to this date, as well as the practice as buying your competitors.
 * Rockefeller** was said to be the richest man in history, as well as the first billionaire, and certainly the richest man of his time period. In his past, his father wasn’t a hard worker, showing that the apple does indeed fall far from the tree. Working by day, and learning by night, he had managed to educate himself even though it was uncommon during the era. Using connections he had made when he was a teenager working in the shipping industry, he earned himself millions of dollars in rebates. His opponents were outraged and demanded that they got rebates as well, which they did, but Rockefeller was still known as a preferred customer and got benefits, which his competitors wished they could have. Using the money he made from the rebates, and seeing his competition flounder for air, he showed them his companies records and offered them a decision, be absorbed into the company, or go bankrupt and lose it all without gaining a thing, most chose the first.

He expressed early in his career he would accept a pay of 50,000 dollars a year. He traveled around the world to foreign countries that were less fortunate, and offered financial aid. A shining example of this is he offered twenty million dollars to the Filipino people so that they could buy their independence (the effort failed, but it was a noble attempt). Over his lifetime, he gave away 4.3 billion dollars to various causes. He established how a successful company owner should act, giving more back to the community rather than line his own pockets. 2 Group 3
 * Andrew Carnegie** immigrated to the USA from Scotland to Allegheny PA, just outside of Pittsburgh. Like Rockefeller, Carnegie started working quite young and also attended night school to continue his education. During the Civil War, he was made secretary under Thomas Scott who was in charge of the western division of the PA railroad. It was during this time period that he learned management experiences, which would serve him well later in life. However, unlike Rockefeller, Carnegie was more than charitable, almost saint like.