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Entrepreneurship

15 Ruthless Tycoons Who Built — and Broke — America

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1. John D. Rockefeller

1. John D. Rockefeller
Image Source: Wikimedia Commons.

John D. Rockefeller, founder of Standard Oil, amassed immense wealth by monopolizing the oil industry through aggressive tactics like predatory pricing and secret railroad rebates. By the early 1880s, Standard Oil controlled approximately 90% of U.S. refineries and pipelines. These practices led to public outcry and the enactment of antitrust laws. In 1911, the U.S. Supreme Court ruled that Standard Oil violated the Sherman Antitrust Act, ordering its dissolution into 34 separate entities, including companies that became ExxonMobil, Chevron, and others (en.wikipedia.org).

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