Thursday, February 3, 2011

John.D.Rockeffeller

He wrote down what he spent and saved everyday which resulted in helping him become wealthy .This will make you a millionaire if you do this properly. John.D.Rockeffeller became the world's first billionaire he was an oil mogul and was pretty ruthless around buisness.John has always wanted to be different then his father and liked order and to try and control uncontrollable things. He recorded everything he spent because recording it makes you realize how valueable money actually is. ( this was called Ledger A)
Rockeffeller thought it was better to refine oil then mine it because oil drys out but some one always needs their oil refiined.After awhile of running the oil refining buisness he tryed to cut out middle men and save money where ever possible even with making their own barrels the workers started using 40 drops of sodder then Rockeffeller got them to try 38 but it didnt work then he said 39 it worked then later on in life he said he saved a fortune.
     He would offer other smaller companies stock instead of just buying them out but if they didnt except he would just pressure them out of the oil game.He told them that they would make more money with him then by themselves which was true. John.D.Rockeffeller established a college  for black women in the late 1800's which was quite amazing and he did it because he thought it was the right thing.He felt a sense of resposibility to use is money for good.Standard Oil got spilt into a bunch of smaller companies and he owned a portion of 34 different companies which were still all very powerful in the oil buisness.He handed out dimes to people which if some one got one of these dimes it was classified a collectible item. John.D.Rockeffeller Jr also had a ledger which he started at a young age.  He was also frugal just like his father and you are more likely much more successful if you are frugal.Rockeffeller Jr. stopped working at the firm and started to spend money on good things like education and juvinielle deliquancy.    After the miners started to rebel in Colarado the federale troops were brought in and 75 miners died in the massacre of Ludlow so Jr went there and spent time with the miners and their families to show them that they are important to him. After the death of Rockeffeller Sr. , Jr wanted to make the Rockeffeller name to be a good symbol so he gave money to many different orginaztions and he helped keep and preserve nature by funding national parks and protecting them. This made him and the Rockeffeller name much more popular with the public. Jr's wife started the Museum of Modern art with some other wealthy women and eventually Jr donated millions into it. When he died he was remebered as the great philanthropest and a great man not a tyrant or a bad public person which was what he strived for to be known as a good man. The family's net worth is estimated to be 5.5 billion dollars.

  What i learnt from the Rockefffellers is the value of money is better realized when you record how much you make and being frugal can help you end up a millionaire . Along with Richard Branson being good to the people who work for you and donating money can make you a better person in peoples eyes and its always a good thing to use extensive wealth for good.

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