John D. Rockefeller: A Journey to Success

John D. Rockefeller, known for his high expectations and business acumen, saved $50 by age 12 and started his own business by 16. He envisioned a nationwide oil business and founded Standard Oil, which became the largest oil refiner by 1868. His success was driven by efficiency and strategic acquisitions. By 1879, Standard Oil controlled 90% of American oil, but in 1911, it was broken up due to antitrust laws. Rockefeller's wealth reached $1 billion by 1916, and he used it for philanthropy, establishing institutions like the University of Chicago. His legacy endures as a symbol of wealth and philanthropy.

At what age did Rockefeller save $50, equivalent to $1500 today?

• 14

• 12

• 16

• 10

What was Rockefeller's vision for the oil business?

• To expand across the country

• To invest in coal

• To avoid competition

• To focus on local markets

What was a key factor in Rockefeller's success in the refinery business?

• Reducing oil prices

• Focusing on marketing

• Hiring more employees

• Owning all parts of the supply chain

By 1879, what percentage of American oil was produced by Standard Oil?

• 100%

• 90%

• 70%

• 50%

Why was Standard Oil broken up in 1911?

• It merged with another company

• It was losing money

• It violated antitrust laws

• It was a government decision

What was Rockefeller's net worth in 1916, equivalent to today?

• $1 billion

• $10 billion

• $30 billion

• $50 billion

Which university did Rockefeller help establish?

• Stanford University

• Yale University

• Harvard University

• University of Chicago

What was one of Rockefeller's contributions to education?

• Creating the General Education Board

• Offering scholarships

• Publishing textbooks

• Building schools

What was the Rockefeller Institute focused on?

• Environmental studies

• Medical research

• Agricultural development

• Technological innovation

What is a lasting impact of the Rockefeller family?

• Their legacy as the first billionaire family

• Their contributions to the arts

• Their involvement in politics

• Their influence on modern technology