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How John D. Rockefeller built an oil dynasty and made billions

The oil tycoon who changed the world
Humble beginnings
Rockefeller's first job
Business beginnings
An introduction to oil
Ahead of the curve
The birth of Standard Oil
Understanding his product
The South Improvement Company
The Cleveland Massacre
Hot competition
Off the rails
The Panic of 1873
Making his mark
Public backlash
A presidential clampdown
The end of the Standard Oil Trust
An oil legacy
Philanthropic pursuits
Providing an education
Medical marvels
A lifetime legacy
Meet the family
David Rockefeller
The modern-day Rockefellers
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Science History Images/Alamy Stock Photo

The oil tycoon who changed the world

When you think of billionaires today, perhaps Jeff Bezos, Elon Musk or maybe even Taylor Swift come to mind. But paving the way for them all was John D. Rockefeller, the world's first dollar billionaire. At the time of his death in 1937, the oil dynasty founder boasted an estimated net worth of $1.4 billion, the equivalent of $30 billion (£22bn) in 2025. However, some financial scholars have even suggested he may have been worth in the region of $400 billion (£300bn) in today's money.

Read on to discover how Rockefeller built his astonishingly profitable empire after a very humble childhood, and find out what happened to his enormous fortune. 

All dollar amounts in US dollars.

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Alice Cattley

19 May 2025

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