John D. Rockefeller was born on July 8, 1839, in Richford, New York. He built his first oil refinery, near Cleveland and in 1870 he incorporated the Standard Oil Company. By 1882 it had a near monopoly of the oil business in the US, but aggressive competitive practices of the company led to the passing of antimonopoly laws. Late in life Rockefeller devoted himself to philanthropy. He died in 1937.
(born July 8, 1839, Richford, New York, U.S.—died May 23, 1937, Ormond Beach, Florida) American industrialist and philanthropist, founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust.