John D. Rockefeller was remembered for his wealth and for the aggressive competitive practices of the Standard Oil Company. Public hostility toward monopolies, of which Standard was the best known, caused some countries to enact anti-monopoly laws. For these reasons, Rockefeller and other heads of monopolistic companies were called robber barons by their critics.
What was John D. Rockefeller remembered for?
How did John D. Rockefeller get famous?
John D. Rockefeller’s Standard Oil Company acquired pipelines and terminal facilities, purchased competing refineries, and vigorously sought to expand its markets. Those practices enabled the company to negotiate with railroads for favoured rates on its shipments of oil. By 1882 Standard Oil had a near monopoly on the oil business in the United States.