John D. Rockefeller Sr. is a name many of us haven't heard or heard only through his philanthropic institutions. I haven't heard of him, and neither was aware that any of the biographies ever been written. Then, I found out about this book. Only to find that the first writer hired by Rockefeller's son took seven years to finish the biography and that it was never published because many considered the manuscript too reverential and vague. Junior Rockefeller had the great burden to tell his father's side of the story to set the records straight. Thus, the journey of writing a biography for Rockefeller Sr. began in a quest to tell their side of the story. And, many have been authorized biography, but this is not.
I have read the biography of Rockefeller Sr. written by Ron Chernow, who previously wrote the biography of Alexander Hamilton. I got to know about this book on the reading list of ribbonfarm.com. The book is titled Titan, The Life of John D. Rockefeller Sr. The book is written splendidly and provides a valuable critique of the previously written biographies of Rockefeller Sr.
It begins with his grandparents and ends with his grandchildren. John started working at a very young age as a bookkeeper and went on to become the richest man in the American history. It is a fascinating story. The book describes his childhood home, and it's captivating world. The lives and times of the late nineteenth century are wonderful in the book which is evident from the vibrant depiction of that era. I would like to divide the book into three parts; childhood, Young hood, and adulthood.
I
Since childhood, being the eldest of three brothers, his task was cut out. The father in the family was mostly absent, so the family had to take care of themselves. Although, he paid all the bills once he arrived from his long trips. Frequent changing of homes had an impact on him when he was growing up. The father arrived with gifts and stories of his journey for his son. His father held numerous roaming jobs, such as a fake doctor, performing artist. In his years of travel, he raised another family by marrying a girl in another town. Both of his families were unaware of each other. He managed this act perfectly until his last days. The mother instilled the discipline and church in her children. Hard work and attending church was routine for the boys. Mother was a devoted Christian and believed in the bible. She was a dutiful wife who loved her husband very much despite his long absence from her life. She managed home and kids perfectly.
Later on, the family shifted to live near her father's ranch. The parents remained married though they saw each other only a few times in later years. Their relationship was intriguing because of contrary personalities. They had a love marriage. The man was a known philanderer, a conman, who always travelled and the woman was a devoted Christian. Nothing in their personalities match, and still, they got married. She never doubted or complained about his behaviour. Perhaps, she understood the situation well.
John absorbed many qualities of his mother, such as work ethics, bible, and the family. He did not attend the college because his father believed that being the eldest he must contribute to the family rather than waste money on college. It was rare at the time to attend college, but John wanted to study further. So, he did a diploma course in bookkeeping and started looking for a job. The process of job hunting was a happy phase because he enjoyed every bit of it. When he finally got the job, he worked very hard.
Later, he befriended a fellow man, older than him and started his company. The company was a partnership as the name also suggested. Here, again he met with the man who has an opposing personality, but they had a great partnership since they knew their boundaries. This partnership did not end well. But till then he was already making waves in the oil business.
II
The second chapter of his life began when he acquired numerous oil refineries in a span of a few days becoming the largest oil supplier in the USA. His collusion with the railroad authorities for the rebate became a sore point of his career. Since there were no precise laws at the time about competition and monopolies of the business, everything went smoothly in his favour. Although he brought most of the companies under the standard trust, some of the independent producers did exist at the time.
Since most of the transportation took place through the railroad and Rockefeller Sr. had a secret partnership with the railroads giving him an upper hand in the business for many years. He did not believe in competition but cooperation and considered his wealth as a bounty from God. Being a devoted Christian, he donated to many of the churches in the states. He never touched alcohol and remained teetotaller all his life. He professed his longevity on his simple lifestyle which he followed until the end. Since the trust was spread in many states and letters were the only medium of communication, many of the secrets, lies, rebates, illegal tactics and briberies of the trust are well documented. One of the key parts missing is the reply of the Rockefeller Sr. during this period.
For the reasons unknown, many of the letters written by him during this period of standard trust are not in the archive and can't to be found. This chapter of his life is defined by everyone except Rockefeller Sr., who seems to have an amazing quality of selective memory. Later on, in many of the court hearings against the trust, he represented a forgetful memory. If this period became mired in the different controversies, it also established trust's domination outside America. One of the top virtues of Rockefeller Sr. which can be observed in his life and business is the extreme self-control. Many members of the board were his rivals whose companies he once acquired forcibly, but the board meetings ran smoothly with occasional hiccups. The key learning from his younghood is the adaptability and transformation of an individual according to the changing times. The cheap prices of oil became the most important selling points of Standard trust.
Despite the controversy or the civil war or the world war or the economic depression, the profits of standard trust kept on growing. While acquiring companies, he gave two choices to the owners; the standard trust's share and cash. The second chapter of his life ends when he relinquishes control of the standard trust to his close confidante. His successor forced him to remain president at the trust despite Rockefeller's several requests to release him.
III
The third chapter of his life revolves around his philanthropic works. With the able minds working for him, he took an active interest in the philanthropy and stock market. He also began his long-standing obsession with the golf. When he was young, he only wanted to own one million dollars and live till a hundred years.
Philanthropy was a not a new field for him but the number of letters received could fill an entire building. Hence a framework was necessary to establish transparency and truthfulness. First, he focussed on educational institutions and churches. Churches were constant in Rockefeller's philanthropy. He treated philanthropy as an independent business. He believed that it must stand on its feet, and a small push should be provided by the contributors. This belief caused him much agony because people did not believe in it, as much as he did. Anything remotely connected to Rockefeller became the headline in the newspaper, and especially if it was a philanthropy because everyone thought he was washing his sins. He donated generously to people only after he was convinced about the purpose and the person.
The idea of a medical and research centre was alien to him but after much prodding from his son and his advisor, he relented. His son became the torching light for the Rockefeller's philanthropy. When Rockefeller transferred most of his wealth to his son, he was convinced of his capabilities in doing good work for the society. It was also during this period that cases started appearing in different states, and Rockefeller had to appear for the testimony in many of them. These cases and different aspects of Rockefeller's life kept media busy.
Given the volume of the wealth, the task of philanthropy became the new business empire for the Rockefeller's family. Every member of the family had their journey in the philanthropy and business world. The only common thread was the Rockefeller's money. John believed in the pleasures of a simple life. His business acumen was the result of the strong principles and strict discipline which he developed over the years, and also tried the same to his children.
The book mentions that he was a better father than his son. John Jr. tried to become like him. He had a different personality, and John loved this about him. Despite mounting pressure from media and court, John never let his family suffer. The book claims that one of the core reasons nobody understood John because he was a little different than others. He kept matters to himself, and his taciturnity only added more mystery to his personality. He never gave interviews or responded to any criticisms or reports on him or his company. Though he brooded as he read them each morning, he kept it to himself and his confidantes.
Later in his life, when he devoted his attention to philanthropy, he changed a bit. He was into stocks and kept an account of his investment. As mentioned in various speeches, he regarded wealth to be a sign of God's mercy. Collect as much as you can, and give away what you can. This philosophy he said to have learned from his mother. The person who believed that John could no wrong was his wife. A devout Christian who loved the Bible and the children. The interesting fact about John's later years was his changed personality. The actions he abhorred in his childhood became regular during these years. Someone who knew about his childhood and his life could not believe his lifestyle in his later years. Thankfully, no one knew at the time. He grew fond of fast cars and beautiful women and movies and music. Guided by his new habits, he spent the rest of his life.
Conclusion
This is the first biography of Rockefeller that I have read. I think that his life is worth exploring further. The times, the business, the laws, the media, the corruption, the government and about everything that anyone can learn by reading him. This is a biography and a critique of the age that saw the emergence of capitalism, and the ways of its operation. People, for the first time, saw a rich man beyond their imagination and a man among them whose brother blamed him for his life's misfortunes. Today, the disapprobation is gone and what is left is the philanthropy, university, endowments and research centre, and a legacy that has stood the test of the time. Do we have monopolies today? Do we have better laws? Do we have a better political system of checks and balances?