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Laura Spelman Rockefellerm. 1864–1915
She was a white-American abolitionist, philanthropist and schoolteacher. Laura Celestia Spelman was born in Wadsworth, Ohio to Puritan descendant Harvey Buell Spelman and Lucy Henry, Yankees who had moved to Ohio from Massachusetts.
September 8, 1864 (Laura Spelman Rockefeller)
Rockefeller always treated his employees with fairness and generosity. He believed in paying his employees fairly for their hard work and often handed out bonuses on top of their regular salaries. Rockefeller was America’s first billionaire.
John D. Rockefeller founded the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Later in life he turned his attention to charity. He made possible the founding of the University of Chicago and endowed major philanthropic institutions.
Business leaders like Rockefeller were called “robber barons” because they were infamous for paying their workers extremely poor wages while making extremely large amounts of money through unfair business practices such as dumping and trust-making.
How was Rockefeller a Robber Baron? Rockefeller ran his compettion, paid his workers low wages for the long hard hours the worked. How was Standard Oil a Monopoly? Standard Oil was one of the largest businesses in America, and it controlled the oil industry, so it became a Monopoly.
Was an american business magnate and philanthropist. He was a Co-founder of the Standard Oil Company. Gained a monopoly in the oil industry by buying rival refineries and developing companies for distributing and marketing its products around the globe.
Although Carnegie liked to be the tough businessman, he was not a monopolist and did not like monopolists. On the other side of the pool, Rockefeller was dominating the oil industry with no mercy. He believed in primitive savagery in the world of business, where only the fittest survived.
Rockefeller demanded rebates, or discounted rates, from the railroads. He used all these methods to reduce the price of oil to his consumers. His profits soared and his competitors were crushed one by one. Rockefeller forced smaller companies to surrender their stock to his control.