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oil companies has been around for at least one hundred years before John Rockefeller established the Standard Oil Trust Company. Just like any new business founded, Rockefeller thought it was a new investement with the steel company becoming one of the dominant industry in the world, due to railroads, train, and new ships being created. They required oil to function. John Rockefeller, established the Trust, a type of monopoly (illegal today in the US) with the idea to make more money. Much more than what he realized.
to answer your question in a shorter way, rich people looking for ways to get richer.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoWiki User
∙ 15y agoJohn D. Rockefeller
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Which of these companies has NOT been forced to split up by the federal government Microsoft AT and T American Tobacco Company Standard Oil Trust?
Microsoft.
What is Trust-busting?
Trustbusting is the act of taking a conglomeration of companies to court and trying to prove that they are inhibiting free trade. If found guilty the conglomerate would then be broken up into smaller companies, thus preventing a monopoly.
Chevron used to be know as Standard Oil of which state?
California
How did a trust allow John D Rockefeller to create a monopoly over the American oil industry?
Yes.
Who made a fortune in the oil business?
John D. Rockefeller is famous for having made a fortune in the oil business. He co-founded the Standard Oil Company in 1870.
What was the first modern trust?
Standard Oil Trust
Who was John D. Rockefeller?
John D Rockefeller was a man who owned a wealthy business. He was born on 8 July 1839 in Richford, New York, and died on 23 May 1937. He was the founder of the Standard Oil company, and a philanthropist. He sold standard oil for a lot more then it was worth. In today's money he would have been worth 2.5 billion dollars. He paid his workers very little.
What was the first trust created in the United States?
rockefeller's standard oil trust
Standard oil was powerful what of the late 1800s?
TRUST
Identify John D Rockefeller and the standard oil company and rise of trust and monopolies?
Identify John D Rockefeller and the standard oil company and rise of trust and monopolies?
Who created the Standard Oil Trust?
john d. Rockefeller
President Taft ordered the breakup of what?
The Standard Oil Trust
When was Standard Oil dissolved?
In 1911 the U.S. Supreme Court ordered that Standard Oil be dissolved. The trust was divided into 33 independent companies.
Who did trust like standard oil became mostly large with?
Eliminating competition
What was the peak share price of Standard Oil Trust in the 1980s?
In the 1980s Standard Oil had a portfolio of stocks. The price for Standard Oil was a result of adding these together. They all had different highs and lows. In 1982 the combined portfolio stock price for Standard Oil was $137.02 per share.
Who exposed the Standard Oil Trust in articles written for McClure's Magazine?
Ida Tarbell
Who was president when the standard oil trust was formed?
Are you serious? Why are you asking a simple question like that here, just type in "standard oil trust fund president" on google, its theodore roosevelt. You would find it 10x faster and more accurate there.
