How did John D. Rockefeller managed to fund his first business-venture as a book-keeper?
dinku p asked:
He was a book-keeper at first and earned meagre wages but still he managed to start his first business, a food and grain firm, within 2-3 years of getting his job. How did he fund it?
He was a book-keeper at first and earned meagre wages but still he managed to start his first business, a food and grain firm, within 2-3 years of getting his job. How did he fund it?
Moreover, how did he later fund his oil refineries?
Please provide some info. in addition to the Wikipedia article. Thanks!
Dwight
most likely save money instead of buying wants .material goods .did without in the beginning .we now want everything now .and I can be just as bad at times .that’s how most people in the early nineteen hundreds did it .and they hoped for the best .
When Rockefeller was 16 he got his first job as a clerk. At that time he promised when he retired he would give one tenth of his money to charity. In 1858 he went into the produce commission business. His firm, Clark Rockefeller, invested in an oil refinery in 1862.
The rest is history.
I offer here a quote from the web page identified below.
Hewitt Tuttle, a small company of produce
shippers and commission merchants employed
him as an assistant bookkeeper. Rockefeller
worked hard and impressed his employers,
arranging complicated transportation deals
moving freight by railroad, canal and lake boats.
He began to trade for his own account and his
combination of caution; precision and resolve
brought him to the attention of the Cleveland
business community.
In 1859, several months before his 20th birthday,
Rockefeller entered into business for himself,
forming a partnership with a neighbor, Maurice
Clark. Each man put up $2,000, John had
$1,000 he had saved and he borrowed the
other $1,000 from his father. Due to Rockefeller