Titan: The Life of John D Rockefeller, Sr

 Titan: The Life of John D Rockefeller, Sr by Ron Chernow

John D Rockefeller's life was story of two halves connected by one thread: his religious beliefs. In the first half, brought up by his strong willed mother in absence of his bigamist gallivanting father, drilled in the values of thrift, self-reliance, hard work, and unflagging enterprise of his Baptist faith. His intelligence and ambition coincided with industrial blossoming of a continent sized country. He picked up one strand of the budding oil industry, started the age of kerosene, and by the time he exited, had brought in the gasoline age of automobiles.

It was this phase of his life which demonstrated his nerves of steel in crushing competition through means fair and foul and created a company which became a byword of monopoly. His creation, Standard Oil controlled over 85% of refining, 90% of retail oil, and 30% of crude oil market for decades. The fact that he accomplished all this in an era of unfettered competition devoid of any regulations created long lasting tremors in the US society. The way he crushed competition through underpricing of products, monopolizing freight, and pouncing on any upstart is a saga for ages. When one group of oil producers decided to bypass Rockefeller by building their own pipeline to the coastal refineries, the indignant businessman bought an entire slice of Pennsylvania state running from its Northern to southern border to stop the advance of the proposed pipeline! Till the end of his 98 year old life, Rockefeller never ever conceded that his strong arm tactics were wrong or immoral. He believed that he did the work of God in removing the weak, less profitable businesses and thus advancing human cause.

The second act of his life began after he retired from actively managing his business. In this second half he donated most of his billions that he earned. Some of his creations include University of Chicago, Rockefeller Institute of Medicine, General Education Board, among others. During this period he also tussled with the politicians and trustbuster attorneys who changed the way business was done in the US of Rockefeller years.
Rockefeller created a template for businessmen which is being followed still in his homeland. Ruthless in making money and generous in giving it away.

The book is mostly prosaic in its writing. Focuses more on personal rather than business aspect of the subject's life. Mostly a positive view of a figure who has decidedly been a figure of controversy.