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John D. Rockefeller on Making Money: Advice and Words of Wisdom on Building and Sharing Wealth
Advice and words of wisdom from the greatest American businessman and philanthropist.John D. Rockefeller is considered to be the wealthiest man to have ever lived, after adjusting for inflation. An American businessman who made his wealth as a cofounder and leading figure of the Standard Oil Company, he also had a pivotal role in creating our modern system of philanthropy.Collected in John D. Rockefeller on Making Money are the words from the man himself, offering advice on how to successfully start and manage a booming business, as well as the most efficient ways to preserve your wealth once you have acquired it. These quotes also in the face of great wealthMoney and its effectsThoughts on facing public criticismThoughts on big business in the USAIncluded are John D. Rockefeller’s thoughts on the most sage and conscientious manner of distributing and sharing your wealth when your wealth is overflowing. Finally, we get a glimpse into Rockefeller’s life with the inclusion of some of his most personal correspondence.
67 pages, Kindle Edition
First published March 3, 2015
78 people are currently reading
465 people want to read
About the author
John D. Rockefeller
70 books72 followersJohn Davison Rockefeller Sr. was an American industrialist and philanthropist. He was, in 1870, one of the founders of the Standard Oil Company, which became the first great U.S. business trust. He was the driving force of this business until his retirement in 1897, and became the richest man in the world.
Rockefeller Sr. was also a very important philanthropist, founder of both the University of Chicago and Rockefeller University and funder of the Central Philippine University in the Philippines. Beside this he was responsable for the creation of foundations that had a major effect on medicine, education and scientific research.
He was the father of John Davison Rockefeller Jr.
Rockefeller Sr. was also a very important philanthropist, founder of both the University of Chicago and Rockefeller University and funder of the Central Philippine University in the Philippines. Beside this he was responsable for the creation of foundations that had a major effect on medicine, education and scientific research.
He was the father of John Davison Rockefeller Jr.
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Displaying 1 - 16 of 16 reviews
January 27, 2021
Read this book a couple of years ago and recently re-read my notes - many of the "lessons" are still applicable and the book is well worth reading. Below are some of my notes:
John D. Rockefeller was an American oil baron and philanthropist who is still considered the richest man in the world ever [2020]. Rockefeller played a key role in the establishment of the American oil industry and defined the structure of modern philanthropy. He became 97 years old and had, in todays value of money, a net worth of $400bn, compared to the current number one, Jeff Bezoz, with just over $180bn.
“The way to make money is to buy when blood is running the streets”
EARLY IN THE OIL INDUSTRY. Rockefeller was born in 1839 into a simple working-class family in the state of New York. His professional career began as a treasurer and accountant. In 1859, when Rockefeller was 20, the first oil well was drilled in Titusville, Pennsylvania. A few years later, Rockefeller joined two partners in the oil refining industry. During the 1860s, the business developed and Rockefeller bought out his partners. In 1870, he founded Standard Oil, which he would in the coming decades would develop into the world’s largest and most profitable company.
THE FIRST 40 YEARS – AN OIL BARON. Through agreements with several railway operators (which formed a cartel and gave Rockefeller the best deal on the market), Standard Oil soon became the industry’s most profitable player. With the lowest shipping costs, he was able to price out the competitors. He then began to buy up competitor after competitor and in 1872 Standard Oil had absorbed 22 of 26 close competitors. The acquisition process often consisted of Rockefeller showing the owners of the acquisition target his accounts in order to mark that they had no chance. If they did not sell at the offered price, Rockefeller said he would then compete with them, and then buy up their assets cheaply in the bankruptcy auction. Most surrendered and allowed themselves to be acquired. In the end, Standard Oil controlled almost 90% of the US oil market.
THE NEXT 40 YEARS – PHILANTROPHY. Rockefeller’s goal was early on to make as much money as possible and then use it to help humanity as best he could. His philanthropic focus was primarily education and public health. He donated $80m to the University of Chicago in the late 19th century, which has turned a small Baptist school into one of the world’s top universities. With the help of Rockefeller’s financial support, hookworm and yellow fever were also eradicated. At his death in 1937, he had given away half of his fortune.
THE BENEFIT OF THE HILLBILLY. Rockefeller believed that growing up in the big city could be a disadvantage. Those who are born into comfort have a hard time competing with those who have had to fight from day one. He clearly saw how men from the countryside outcompeted those who were born in the city and had rich families.
ABSORB NEGATIVE CRITICISM IN SILENCE. Rockefeller’s policy was to always take criticism in silence and let his actions speak for themselves – over time, this usually led to a fair treatment. As long as no one directly prevented him from going his own way, he was fine with others negative gossip. Well-thought-out and fair criticism, however, he valued and gratefully accepted.
PATIENCE IS A VIRTUE. Rockefeller believed that the most important trait for success is strong perseverance. That quality can trump almost anything. He who patiently performs every day task well, is easy to deal with, constantly tries to develop as well as keeps a straight line through wet and dry will have a successful professional life. Success also comes from using your ears more than your mouth – especially early in your career.
“I admire persistence. It is commendable, especially in young men, and it will win in the end”
WEALTH SHOULD BE A SIFE EFFECT. He who only strives to become rich will not be – the ambition must come from something greater. For Rockefeller, making money was never an end in itself, it was a side effect. He saw a fantastic future for his country and wanted to participate in its development. He had no ambition to become the richest man in the world.
“The road of happiness lies in two simple principles: find what interests you and that you can do well and put your whole soul into it – every bit of energy and ambition and natural ability you have.”
John D. Rockefeller was an American oil baron and philanthropist who is still considered the richest man in the world ever [2020]. Rockefeller played a key role in the establishment of the American oil industry and defined the structure of modern philanthropy. He became 97 years old and had, in todays value of money, a net worth of $400bn, compared to the current number one, Jeff Bezoz, with just over $180bn.
“The way to make money is to buy when blood is running the streets”
EARLY IN THE OIL INDUSTRY. Rockefeller was born in 1839 into a simple working-class family in the state of New York. His professional career began as a treasurer and accountant. In 1859, when Rockefeller was 20, the first oil well was drilled in Titusville, Pennsylvania. A few years later, Rockefeller joined two partners in the oil refining industry. During the 1860s, the business developed and Rockefeller bought out his partners. In 1870, he founded Standard Oil, which he would in the coming decades would develop into the world’s largest and most profitable company.
THE FIRST 40 YEARS – AN OIL BARON. Through agreements with several railway operators (which formed a cartel and gave Rockefeller the best deal on the market), Standard Oil soon became the industry’s most profitable player. With the lowest shipping costs, he was able to price out the competitors. He then began to buy up competitor after competitor and in 1872 Standard Oil had absorbed 22 of 26 close competitors. The acquisition process often consisted of Rockefeller showing the owners of the acquisition target his accounts in order to mark that they had no chance. If they did not sell at the offered price, Rockefeller said he would then compete with them, and then buy up their assets cheaply in the bankruptcy auction. Most surrendered and allowed themselves to be acquired. In the end, Standard Oil controlled almost 90% of the US oil market.
THE NEXT 40 YEARS – PHILANTROPHY. Rockefeller’s goal was early on to make as much money as possible and then use it to help humanity as best he could. His philanthropic focus was primarily education and public health. He donated $80m to the University of Chicago in the late 19th century, which has turned a small Baptist school into one of the world’s top universities. With the help of Rockefeller’s financial support, hookworm and yellow fever were also eradicated. At his death in 1937, he had given away half of his fortune.
THE BENEFIT OF THE HILLBILLY. Rockefeller believed that growing up in the big city could be a disadvantage. Those who are born into comfort have a hard time competing with those who have had to fight from day one. He clearly saw how men from the countryside outcompeted those who were born in the city and had rich families.
ABSORB NEGATIVE CRITICISM IN SILENCE. Rockefeller’s policy was to always take criticism in silence and let his actions speak for themselves – over time, this usually led to a fair treatment. As long as no one directly prevented him from going his own way, he was fine with others negative gossip. Well-thought-out and fair criticism, however, he valued and gratefully accepted.
PATIENCE IS A VIRTUE. Rockefeller believed that the most important trait for success is strong perseverance. That quality can trump almost anything. He who patiently performs every day task well, is easy to deal with, constantly tries to develop as well as keeps a straight line through wet and dry will have a successful professional life. Success also comes from using your ears more than your mouth – especially early in your career.
“I admire persistence. It is commendable, especially in young men, and it will win in the end”
WEALTH SHOULD BE A SIFE EFFECT. He who only strives to become rich will not be – the ambition must come from something greater. For Rockefeller, making money was never an end in itself, it was a side effect. He saw a fantastic future for his country and wanted to participate in its development. He had no ambition to become the richest man in the world.
“The road of happiness lies in two simple principles: find what interests you and that you can do well and put your whole soul into it – every bit of energy and ambition and natural ability you have.”
December 26, 2016
این کتاب توی چند تا نقل قول از آقای راکفلر خلاصه می شه. آخر کتاب هم چند تا نامه که این فرد ارسال کرده یا براش ارسال کردن اومده
کتاب کوتاهه. چند خط بیشتر نیست. هر صفحه یک خط نوشته شده تا شده صد و خورده ای صفحه
اگه واقعا کتابی وجود داشت که که راکفلر مخصوصا در مورد کسب ثروت نوشته بود واقعا خوندنی می بود. یا حتا یک زندگی نامه که خود یارو نوشته باشه. متاسفانه چنین چیزی وجود نداره
کتاب کوتاهه. چند خط بیشتر نیست. هر صفحه یک خط نوشته شده تا شده صد و خورده ای صفحه
اگه واقعا کتابی وجود داشت که که راکفلر مخصوصا در مورد کسب ثروت نوشته بود واقعا خوندنی می بود. یا حتا یک زندگی نامه که خود یارو نوشته باشه. متاسفانه چنین چیزی وجود نداره
March 19, 2020
This is a quick read. Along with collection of quotes by John, the book shows the epistolary correspondence of John, his father and sister. I plan to read Chernov’s biography of John but this was my first reading about his personality at some depth. Even though the book does not go into much detail, it was illuminating about the Rockefeller’s family values about charity, hard word, the value of money and service to society.
May 21, 2025
Definitely outdated but for the information that is relevant (which is a lot), this was actually kind of brilliant and well worded about both money and efforts in life. It’s mainly just quotes and tidbits about money and life coming from one of the richest people of their time.
Towards the end is an interesting collection of some letters between his colleagues and his children.
Towards the end is an interesting collection of some letters between his colleagues and his children.
July 7, 2018
From what I see dis book sound knowledge its interested to read
April 21, 2025
Finished the audiobook of not Titan about John D Rockefeller, but read the richest man who ever lived and his autobiography. finished this the day after Easter. Rockefeller talks about remembering all the great panics since 1857 and says that the panic of 1907 was the greatest panic in American history. This was before the stock market crash of 1929.
If i were to give advice to a young man, says Rockefeller, it would be this: where can i best fit in and lend a hand to help. Take your 1st step on the highest road.
The man who will become most successful is he who does the greatest service to the world.
If i were to give advice to a young man, says Rockefeller, it would be this: where can i best fit in and lend a hand to help. Take your 1st step on the highest road.
The man who will become most successful is he who does the greatest service to the world.
September 26, 2022
The Generosity of John D Rockefeller Senior
This book is a short read on the late great J. D. Rockefeller. After reading this book slowly for several days I found it very enlightening and highlighted many passages that were worth remembering. Especially on his counsel to his children on the importance investing in business, and in people on a daily basis.
This book is a short read on the late great J. D. Rockefeller. After reading this book slowly for several days I found it very enlightening and highlighted many passages that were worth remembering. Especially on his counsel to his children on the importance investing in business, and in people on a daily basis.
March 23, 2022
Generic Advice - Waste of time
First part of the book was ok. I was hoping it will pick up. It did not.
It goes to show - one needs to practice the craft before hoping to be any good at it.
John D. Rockefeller was a great man - just not a good writer.
First part of the book was ok. I was hoping it will pick up. It did not.
It goes to show - one needs to practice the craft before hoping to be any good at it.
John D. Rockefeller was a great man - just not a good writer.
Read
January 12, 2021Short but some exposure to his mindset. Sounds like he wrote alot more back in his day. I'd like to read it again
February 10, 2021
I learned a lot about his life, and helped me write a history paper.
March 30, 2021
Ok book
October 13, 2021
Writing: 3/5
Knowledge Gained: 2/5
Enjoyment: 2/5
Not much advice, mainly quotes, from Rockefeller. I advise to check out other books on Rockefeller.
Knowledge Gained: 2/5
Enjoyment: 2/5
Not much advice, mainly quotes, from Rockefeller. I advise to check out other books on Rockefeller.
May 2, 2024
What a garbage book. Why do i do this to myself
December 29, 2024
For a man who reached incredible heights in building his fortune, John D. Rockefeller was surprisingly generous, especially considering the controversial history of Standard Oil. He was principled, ambitious, focused, and philanthropic—qualities that don't always align, yet Rockefeller managed to embody them throughout his life. Despite the complexities of his business dealings, he led an admirable life, demonstrating that wealth and generosity can coexist when guided by a strong sense of responsibility and purpose.
January 13, 2016
This book is a short and simple compilation of JD Rockefeller quotes and a few letters he wrote and received. I found it interesting and informative. Certainly it is representative of the thinking of his time.
May 30, 2016
Nothing but quotes
I was under the impression this was a book BY Rockefeller and I guess it is if all you want is a bunch of random quotes. NOt much too it.
I was under the impression this was a book BY Rockefeller and I guess it is if all you want is a bunch of random quotes. NOt much too it.
Displaying 1 - 16 of 16 reviews