John D. Rockefeller is the owner of the Standard Oil Company. So far in American history, he is the richest man in the world due to gasoline and kerosene prices skyrocketing. In the past nine years since he began to aggressively run the company, he has achieved an amazing monopoly in the oil industry. He has run his company so well; his company has run all the other businesses in the industry out of business. This is shaping up to be a monumental monopoly, and the public is outraged.
If Rockefeller has the power to raise prices, which he does, many people believe that he will. Not wanting to pay more for oil products than necessary, the government is considering making laws to avoid monopolies like this. Oil is used to make gasoline, and prices are soaring thanks to the accomplished Henry Ford, who runs an automobile company in Michigan. Rockefeller might surpass all expectations here, and the public is prepared to attempt to boycott oil.
Rockefeller will likely pass his business on to his son, John D. Rockefeller Junior, when he chooses to retire, which he has hinted may be in the near future. He is the first American billionaire. Andrew Carnegie may be closing in quickly on that though, as his steel business is flourishing. Historians choose to believe no one will surpass Rockefeller as the richest man in the world for a long time.