Rockefeller Dynasty, World’s Most Influential Oil Family Clan

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The Rockefellers are one of the richest family dynasties in the world. This family fortune began when John D. Rockefeller founded the oil refinery company Standard Oil, which dominates the world’s oil sector business.

Just like the Rothschild clan, the richest Jewish family for three centuries, the Rockefeller clan was rumored to be playing a role in the Covid-19 vaccine business.

Rockefeller himself is an industrialist and philanthropist from the United States, quoted by Britannica. Before entering the world of oil mining, Rockefeller had business in a number of commodities such as straw, seeds, and meat.

Rockefeller then built his first oil refinery near Cleveland in 1863. Within two years, Rockefeller succeeded in making his oil refinery the largest in the area.

In 1870, Rockefeller began to work together with several of his colleagues to form the Standard Oil company. In 1872, this company managed to control the oil refinery in Cleveland.

Not only that, the success of Standard Oil has made Rockefeller able to obtain oil pipelines and terminals, be able to buy oil refineries in other cities, and expand their market.

By 1880, Standard Oil had control of nearly all of the oil refineries produced in the United States. This success was influenced by the elimination of competitors, the merger of companies, and the use of lucrative rail rebates, quoted from Britannica.

In 1896, Rockefeller decided to retire and channel his energies into philanthropy. With the help of his son, Rockefeller founded the Rockefeller Foundation, as reported by Investopedia.

In a journal entitled, “The Legacy Wealth: Primogeniture among the Rockefellers” published by Sage Publications, the Rockefeller family pioneered, blessed, and/or directed more than fifteen charitable and philanthropic organizations.

Quoting Forbes, the Rockefeller family was ranked 43rd in the list of the richest families in the US in 2020. The net worth of this family reached US$8.4 billion (Rp120 trillion) at that time.

Citing CNBC, the Rockefellers has now been running for seven generations. This family is also said to have 170 heirs.

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