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5-Minute Videos | PragerU

Rockefeller: The Richest American Who Ever Lived

5-Minute Videos | PragerU

PragerU

Self-improvement, History, Non-profit, Business, Education

4.86.9K Ratings

🗓️ 7 January 2019

⏱️ 6 minutes

🧾️ Download transcript

Summary

Was America's first billionaire, John D. Rockefeller, a greedy robber baron, a generous philanthropist, or both? And did the oil tycoon exploit America's poor or give them access to much-needed energy? Historian and Hillsdale College professor Burt Folsom, author of "The Myth of the Robber Barons," reveals the truth about the Rockefeller empire. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

He was called the most hated man in America, yet the New York Times described him as the

0:06.3

world's greatest giver.

0:09.3

He was America's first billionaire, and he gave half of it away.

0:14.5

He was the quintessential so-called robber baron of the Guilded Age, but he was probably

0:20.3

more responsible than any other single individual for the creation of the American middle class

0:26.9

and the development of America as a great industrial power.

0:31.5

He lived in a splendid mansion, but was so worried about spoiling his children that he

0:36.1

dressed them in hand-me-down clothes.

0:38.8

Sawn lyrics were written about him, but he rarely went to social events.

0:43.0

His name was John D. Rockefeller, and his story is uniquely American.

0:50.0

Born in Upstate New York in 1839, he did not have an easy childhood.

0:55.5

His father was a part-time salesman and a full-time full-anderer.

1:00.1

Rockefeller's mother assured John that God was the father who would never let him down.

1:06.6

Rockefeller absorbed that message.

1:08.6

It guided his life.

1:10.5

Deeply religious, he put into practice the spiritual law, give, and it shall be given

1:16.2

unto you.

1:18.4

From his teenage years to his dying day, Rockefeller always gave a portion of his income to charity.

1:26.1

Rockefeller's special gift to the world was caracene, cheap caracene, cheap enough that

1:32.1

anyone could buy it.

1:34.8

Before the formation of his signature company, Standard Oil, people lit their homes with

1:39.6

candles and heated them with coal or wood.

...

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