Who was the first billionaire?
John Davison Rockefeller Sr. Is a business tycoon and philanthropist, he was born in upstate New York, on July 8, 1839. He is popularly known to be the richest person in modern history and the richest American of all time. Rockefeller was born into a big family that travelled a lot before settling in Cleveland,…
John Davison Rockefeller Sr. Is a business tycoon and philanthropist, he was born in upstate New York, on July 8, 1839. He is popularly known to be the richest person in modern history and the richest American of all time. Rockefeller was born into a big family that travelled a lot before settling in Cleveland, Ohio.
At the age of 16, he started working as an assistant bookkeeper, and when he was 20 years old, he entered into his first of many business partnerships, focusing on oil refining. In 1870, Rockefeller established the Standard Oil Company. He served as its manager and biggest shareholder until 1897.
Rockefeller’s wealth increased and he rose to the top of the wealth scale, When kerosene and gasoline gained popularity, at one point owning 90% of the country’s oil. Before electricity was developed, oil was used as a light source across the nation. After the development of the automobile, oil was used as fuel.
Who was the first billionaire?
John D. Rockefeller is the world’s first billionaire. He became a billionaire in 1916 and was worth about 2% of the national economy, also Forbes, stated the Rockefeller family’s wealth stood at $8.4 billion as of 2020.
