CZ Hero - The Entrepreneurial Legends of the World's 500 Largest Companies

Author: Ding Shizhao
Publisher:
Publish Date: 2006-09-01
Features: The self-made "money-making hero" — Rockefeller and the American Standard Oil Company. World's richest man Bill Gates regards Rockefeller as his only idol: "There is only one money-making hero in my eyes, and that is Rockefeller." Let the money in the piggy bank grow.
Once, Rockefeller's mother tied him to a pole and beat him severely. The reason was that Rockefeller had discovered a turkey nest in the woods by chance. He hid nearby and, as soon as he saw the turkeys leave the nest to forage, he quietly ran over, picked up the chicks, and ran home. He kept them in his room and nurtured them carefully. By Thanksgiving, he sold the grown turkeys to neighboring farmers. His mother, a devout believer, thought her son's behavior was an affront to the divine and was very angry. But his father greatly admired his son's ability to make money. He advised his wife, "Forget it, dear. Our son will surely surpass both of us in the future! Can't you see that, in this country, the most important thing is money! Money! Money! Otherwise, you can't go anywhere!"
One incident reflected Rockefeller's Jewish financial awareness. Once, after his father returned home, he asked him, "How much money do you have in the jar?" His son told him it was 50 yuan. But when his father opened the jar, he found not a single cent. He thought his son was lying, but Rockefeller said mysteriously, "I'm using this money to make money." True enough, not long after, his son came to see him with 53.75 yuan. It turned out he had lent the money to nearby farmers at an interest rate of 7.5%, and the next year he earned 3.75 yuan in interest. Later, John recalled his father as the earliest mentor who taught him the ropes of the business world.
Founded a company at 19
John D. Rockefeller was born on July 8, 1839, in the small town of Youngstown, along the Hudson River in New York State. He was not particularly versatile but was exceptionally calm, shrewd, and visionary. With his unique courage and methods, he built a vast oil empire from scratch, step by step. After graduating from high school, Rockefeller decided to forgo college and enter the business world. He became an accountant at a grain trading firm, earning 4 yuan per week. In 1858, Rockefeller borrowed 1,000 yuan from his father and added his own savings of 800 yuan to start a company with Clark, who was 10 years older than him, dealing in grain and meat. He was only 19 years old at the time. This was the first company Rockefeller ever founded. Due to its successful operations, he earned a net profit of 4,000 yuan within its first year.
Rockefeller was full of confidence in his business dealings and was also trustworthy and sincere in his interactions. His early partner Clark greatly admired Rockefeller's meticulousness. He said, "He was incredibly methodical, paid attention to every detail, and never missed a cent. If a cent was supposed to go to us, he would make sure we got it. If he owed a cent to a customer, he would insist they take it."
Pioneers don't make big money
Soon, the town of Titusville, located on the oil-rich banks of the Oil Creek in western Pennsylvania, was abuzz with astonishing news: "Oil has been discovered here!" This discovery was too important. The immigrants at the time, much like today's migrant workers in China, would flock to any opportunity that promised wealth. Rockefeller, who was always eager to take the lead, saw this as a chance to strike it rich.