The Creative Entrepreneur - John Davison Rockefeller Jr - December 2024
Dec, 1 2024
Two centuries ago oil was a lucrative business. To discover how much revenue a person could make took skill, intuition and great craftsmanship. One man John Davison Rockefeller Jr. was able to successfully accomplish this. Let us learn more in the following 17 minute film –
As he made substantial money he was able to give back, which led him into philanthropic causes. For instance he created the Sealantic Fund in 1938 to channel gifts to his favourite causes. He gave over $537 to myriad causes over his lifetime.
Abroad, he donated a considerable amount towards the restoration and rehabilitation of major buildings in France after World War 1, such as the Reims Cathedral, the Château de Fontainebleau and the Château de Versailles.
He is the author of the noted life principle, among others, inscribed on a tablet facing his famed Rockefeller Center: "I believe that every right implies a responsibility; every opportunity, an obligation; every possession, a duty".
In 1935, Rockefeller received The Hundred Year Association of New York's Gold Medal Award, "in recognition of outstanding contributions to the City of New York." He was awarded the Public Welfare Medal from the National Academy of Sciences in 1943.
At the time of his death on May 11th 1960 at age 86 in Tucson Arizona, he had left a legacy behind which he had created during his incredible entrepreneurial lifetime. Recognizing that oil was a profitable career helped him establish himself as one of the leading oil pioneers over his extensive time in business.
Four years after his death The John D. Rockefeller Jr. Library at Brown University, completed in 1964, is named in his honor.
Despite his originality Rockefeller also had competition. That came in the form of James ‘Paraffin’ Young (1811- 1883). Young came slightly earlier than Rockefeller so he had a head-start on the oil business. He was perhaps the first in the world to produce refined mineral oils on a commercial scale.
From this pioneering enterprise extended an oil industry, centred in West Lothian,that successfully competed against cheaper imported petroleum for almost a century. This fierce competition bred innovation, resilience, and a body of Scots know-how that contributed greatly towards the development of oil industries throughout the world.
His work is collected and exhibited to view by the public at the following museum - https://www.scottishshale.co.uk/
Rockefeller soon followed after Young and he finished what he started. Rockefeller saw the potential of growth and sustainable interest in oil. He knew how much he could make and saw this as a great business venture that would set him up for life.
^Alex Ashworth CCG UK BLOGGER
