A way to a man’s heart is through sex, food, and Ron Chernow books. The last one is probably particular to me, but thankfully my wife knows me very well; for Christmas last year she bought me Titan: The Life of John D. Rockefeller, Sr by – you guessed who – Ron Chernow. I first became interested in Rockefeller after watching the History Channel series The Men Who Built America which profiles the dominant imperialists of the Gilded Age. The History Channel usually churns out complete garbage, but this show was actually informative and entertaining – compared to the ubiquitous alien conspiracy theory shows. Rockefeller is one of the most complicated men I have ever read about and hence Chernow’s biography of him took up a mammoth 700 pages.
Rockefeller, unlike Vanderbilt or JP Morgan, was not your typical Rober Baron who accumulated money for the sake of hedonism. Wealth and success to Rockefeller represented God’s blessings – blessings which could not be squandered. He lived a simple life relative to his fortune which in today’s money was worth 400 billion dollars. Oil was the foundation of that fortune and for decades his company, Standard Oil, dominated the global refining business. With vast wealth comes enormous controversy – Rockefeller was a ruthless businessman who negotiated unfair trade deals with the railroads – squeezing out small refiners in the process. These shady business practices were during a time when industry was mostly unregulated in America. Ida Tarbell, the famous Muckraker journalist, vilified Rockefeller – subsequently rallying public opinion and the US government to break up Standard Oil’s monopoly. Ironically, the break up of Standard Oil made Rockefeller even wealthier – he continued to own large shares of his stepchildren’s companies still known today: Exxon, Mobil, Amoco, Chevron, Sun, Conoco.
Rockefeller stepped away from the oil business in his late 50’s and enjoyed a long retirement of philanthropy. Thanks to several Rockefeller foundations, the fields of education, medicine, and research were expanded. It can be argued that the United States world-renowned college system is a direct result of Rockefeller – he set the standard for medical research and founded the prestigious University of Chicago. Before Rockefeller, the state of medicine in the US was that of snake oil salesman – after Rockefeller medicine evolved into a rigorous scientific discipline. Some would question whether we should support philanthropy from “dirty” oil money? I would argue that Rockefeller made business decisions like a strict father; they were harsh but many times fair, as the oil business was in large part saved by Rockefeller’s big thinking principles. During the financial crises of the late 19th century, many small refiners went bust all while Standard Oil maintained record low prices for the consumer. Capitalism is tough and Rockefeller was one of the toughest. When we critique his decisions, we must look at things contextually. Rockefeller was not without blame, but I don’t think that his legacy is one of a sinner. I think his legacy is complicated and the fairest assessment should come from his opponents…
“The press, once hostile to him, formed his biggest cheering section. ‘It is doubful whether any private individual has ever spent a great fortune more wisely than Mr. Rockefeller,’ Pulitzer’s World editorialized in 1923, while the Hearst press, not to be outdone, states, ‘The Rockefellers have given away more money and to better advantage than anybody else in the world’s history since the ark stranded on Ararat.'”
I believe that Rockefeller is no saint when compared to the world as a whole…but maybe a saint when compared to the wealthiest individuals in the history of the world. Excessive wealth usually corrupts and leaves no positive legacy. Rockefeller following his religious views used each penny wisely. Those pennies may have been tainted, but in the end, they were shined up for a noble purpose; a purpose which Rockefeller pursued until his death at 97 years old. So what’s your verdict? Was Rockefeller a sinner or a saint?