John D. Rockefeller’s father had a nefarious past

William A. Rockefeller Sr. earned his money via various schemes that included pretending to be a doctor to sell “herbal medicines” and posing as a deaf person to peddle for money.

How John D. Rockefeller became the world's first billionaire

From a young age, John D. Rockefeller knew he was interested in business. He worked as a bookkeeper and sold candy prior to starting the business empire that would help cement the Rockefeller name in history: Standard Oil.

The history of the Rockefellers in 60 seconds

John D. Rockefeller—the world's first billionaire—once controlled 90% of the US oil refining market, built Standard Oil through vertical integration, and used his fortune to fund universities, museums, and landmarks like Rockefeller Center.

A timeline of the Rockefeller family

The Rockefeller family timeline (as it relates to the business world, at least) starts in 1839 with John D. Rockefeller’s birth. In the nearly 200 years since, his offspring have gotten involved in everything from the Watergate scandal to the McCormick & Company spice business.

'If you want to succeed, you should strike out on new paths, rather than travel the worn paths of accepted success.'

- Billionaire John D. Rockefeller (1839-1937)

Today’s Rockefellers have become climate activists

The Rockefeller Family Fund has been engaged in more than 40 lawsuits against ExxonMobil, a company that John D. Rockefeller’s Standard Oil created.

How the Rockefellers' wealth evolved over time

The Rockefellers built one of the most powerful business empires in US history. By the early 1900s, their company, Standard Oil, controlled over 90% of the US oil market.

The Rockefellers' family office expanded to become a multifamily office

The Rockefellers created the first known single-family office in the late 1800s but the firm has evolved since to serve many wealthy American families.

Standard Oil's predatory business practices included temporarily operating at a loss to drive competitors out of business

Rockefeller's oil monopoly had a dark side, including cutting oil prices so low that Standard Oil was sometimes temporarily operating at a loss in order to drive competitors out of business.

In 1931-32, JP Morgan Jr. paid no income taxes due to his company’s losses

This legally reduced his taxable income under existing laws. Similarly, the Rockefellers leveraged charitable foundations to minimize taxes, allowing them to preserve wealth while directing funds to their preferred causes.

The Rockefellers funded the restoration of Colonial Williamsburg

John D. Rockefeller Jr. and his wife spent millions of dollars restoring Colonial Williamsburg and turning it into the tourist attraction it is today. You can go back in time via video footage from before and after the restoration.

Before his final answer, the first US ‘Millionaire’ winner called his dad to tell him he’d won

John Carpenter was the first US contestant on “Who Wants to Be a Millionaire?” to win the top prize. Impressively, he did it without using any of his “lifelines,” which could provide hints. Well, that’s not exactly true: Carpenter did use his “Phone a Friend” lifeline, but it was just to let his father know that he’d be winning a million bucks.

Modern antitrust law was created to combat the Standard Oil Trust

John D. Rockefeller's Standard Oil Trust enabled him to evade laws against a single corporation buying stock in another. His centralized board of directors held stock in many different oil companies under his control, allowing Rockefeller to eventually monopolize the oil refining industry. Efforts to regulate and prevent the Standard Oil Trust's monopoly became known as "antitrust" laws.

Joseph Kennedy Sr., President John F. Kennedy's father, became the first chairman of the Securities Exchange Commission in 1934.

Jeff Bezos came from humble beginnings and spent much of his childhood on a cattle ranch, where his grandfather made his own needles for the cattle by hand.

JP Morgan Jr. once angered the nation with his zero-dollar tax bill

In the aftermath of the Great Depression, Congress learned that Morgan and his banking partners had avoided paying any federal income tax in 1931 and 1932. By claiming their losses in the stock market, they seemingly erased what they owed.

Larry Fink cofounded BlackRock with a $5M investment from Blackstone cofounder Stephen Schwarzman in 1988, before officially severing ties with Blackstone in 1994.

Largely considered to be the inspiration for Gordon Gekko in the movie 'Wall Street,' Ivan Boesky was one of the most high-profile white-collar criminals and faced a $100M fine for insider trading in 1986.

Warren Buffett began investing at 11 years old

He then bought his first property at 14 years old. From studying under the “father of value investing” to revitalizing a textile company into the largest holding company in the world, Buffett’s career is one of great financial success.

Ray Dalio grew up in New York City, and his dad was a jazz musician

Dalio grew up in the Jackson Heights neighborhood in Queens—though his family moved to the city's suburbs when he was eight-years-old. His father played music in famous Manhattan nightclubs like the Copacabana, while his mother stayed home.

The winding journey from Standard Oil to the modern oil industry

Standard Oil’s impact on the business world can be clearly seen today in oil giants like Exxon and Chevron. But the journey from the Rockefellers’ trust to the modern firms was a windy road. After the Supreme Court ordered Standard Oil’s break up, the first step saw it separate into many state-based companies like Standard Oil of California and the Ohio Oil Company. Visualize it here.

Famed American investor Jesse Livermore made millions when the stock market crashed in 1929

Livermore made his first major short against rail company Union Pacific in 1906, coincidentally before an earthquake in San Francisco, which ultimately tanked share prices. During a financial panic the next year, JP Morgan reportedly asked Livermore to increase his long-term investments to restore hope and restabilize the market—which Livermore did. However, Livermore began betting against the market in 1929, sensing that stocks were too hot, and was one of the few people to benefit from the 1929 stock crash.

The origins of modern family offices date back to the 1500s

Wealth management for families with massive fortunes has evolved over the centuries, with the Rockefellers establishing the first single-family office in 1882.

Soybean oil fraud almost decimated American Express in 1963

A New York commodities trader who had defrauded the American government over uninspected meat for school lunches, Anthony "Tino" De Angelis, used American Express warehouses to sell soybean oil. However, Angelis had actually filled the tanks with water and placed just enough soybean oil on top of the tanks to pass inspection. American Express was liable for many of the tanks and its stock faced a huge downturn, opening the door for a then 33-year-old Warren Buffett to make his first purchase in the company.

Robber barons, the monopolistic business people of the 19th century, explained

“Robber baron” was a term used to describe 19th-century businesspeople who engaged in monopolistic business practices and didn’t face much business regulation, resulting in significant wealth.

Charles Dickens' novels inspired a young Norman Rockwell

Rockwell is considered a narrative painter who tells stories through his portraits of everyday Americans. The interest in using images to tell stories began at a young age, when his father read Dickens aloud to him while the young Norman illustrated the books’ scenes.

See Rockefeller Center's Christmas trees since 1931

In 1931, with construction still underway, Rockefeller Center's very first Christmas tree was erected out front. John D. Rockefeller himself greeted the construction workers who put up the first 20-foot tree and decorated it with cranberries and paper garland.

Listen to a sit-down interview with BlackRock CEO Larry Fink to learn more about his background, the lessons he's learned throughout his career, and his outlook for the future.

Standard Oil used vertical integration to create an empire

“Vertical integration” is a modern business phrase that refers to a company taking on multiple stages of production—but John D. Rockefeller pioneered it with his Standard Oil company, employing its own plumbers and handling its own oil transportation.

When Dickens was 12, his father was imprisoned for debt

John Dickens was imprisoned at Marshalsea Debtors' Prison in London for failing to pay his debts. The experience forced the young Charles to leave school to help provide for his family. It also eventually informed his fiction, which often called for social reform, including the abolition of debtors' prisons.

Eleven of modern history's greatest investors

The greatest investors have all made a fortune off of their success and, in many cases, have helped millions of others achieve similar returns. Read about the lives and approaches of Carl Icahn, Warren Buffett, George Soros, and more.

Two Papa John's pizzas were the first real-world transaction involving cryptocurrency.

Former Berkshire Hathaway CEO Warren Buffett is among the world's most generous philanthropists, having given away more than $68B.

Most US billionaires made their wealth in banking and finance rather than tech

A third of US billionaires inherited much or all of their enormous fortunes. It can be tough to determine the exact net worth of billionaires given that much of their money is often tied up in company stocks, which fluctuate significantly in a given week. (Some users may experience a paywall.)

Thomas Edison publicly executed animals with AC to convince the public of its dangers

J.P. Morgan first backed Thomas Edison's direct current system, seeing electricity's potential to usurp John D. Rockefeller's kerosene empire. Despite the investments and smear campaign against alternating current, alternating current ultimately won public support after lighting the 1893 World's Fair, after which Morgan would fund Tesla's wireless transmission tower.

America’s richest families

You could probably name a few of America's richest people, like Elon Musk or Mark Zuckerberg, for instance. But could you name the richest families in America, like the Waltons or the Mars family? Explore the list of 2024's richest families in America—and find out how they made their money—here.

Mark Zuckerberg's dad is a dentist—but he originally wanted to work with computers

Mark Zuckerberg grew up in Dobbs Ferry in Westchester County, about 25 miles north of New York City. His father, Ed Zuckerberg, owned a practice connected to Mark's childhood home, but he was always fascinated by computers. Ed's family was the first in his neighborhood to have a color television, and Ed was an early adopter of computing technology—something that he passed on to Mark. (Some users may experience a paywall.)

Around 60% of female billionaires in the US are considered self-made—meaning at least some of their wealth comes from a business venture launched on their own.

Jeff Bezos’ biological father and mother married as teenagers—and had Jeff a year later

His biological father, Ted Jorgensen, was a circus performer at the time. He later gave up custody of Jeff and became a bicycle repairman in Phoenix, Arizona. Ironically, the last time Jorgensen saw Jeff as a child was in a Walmart where Jorgensen worked. This video dives into the relationship between Jeff Bezos and his estranged biological father, who passed away in 2015.