John D. Rockefeller was a very competitive man. He eventually became the leader of the oil industry. He became a wealthy man by helping the Union during the Civil War. When oil started being drilled, he saw an opportunity to prosper. He opened up a few oil companies to start pumping oil, and he started buying other competitors around him. When the depression hit, many oil companies around him started to crash, but his was able to stay efficient and strong. He saw this as an opportunity for even more power and was able to expand his company and prosper while others were crumbling. He bought out most of the oil companies in the U.S. and started partnering with intelligent business partners such as Henry Flagler. If he wasn't able to buy a company, he would partner with them so he was still able to regulate prices and gain power. He was able to keep production costs low meaning lower prices for the population. He founded the Standard Oil Company which absorbed almost all of the competing oil companies and was able to negotiate lower shipping prices, stabilizing and lowering oil prices. However, people got nervous about his ruthlessness and having too much power, and they thought he was just making decisions for greed and money. They eventually took it to the Supreme Court where he was forced to disperse his trusts. He gave a lot of his money to charities and donated to
Andrew Carnegie was similar to Rockefeller in that he affected the common workers positively and negatively. To learn more about Carnegie, we read the“Andrew Carnegie Bio.” Carnegie was once poor, but then he become one of the wealthiest men in the world, demonstrating a “rags to riches” type of story. He became wealthy by gaining power in the U.S. steel industry. He also used vertical integration, which was a system in which a company’s
As you can see, the Monopolistic leaders, such as Rockefeller and Carnegie, both hurt and helped the average worker. Both men monopolized their industry so it was very difficult for men already in the oil and steel business to stay afloat. Carnegie hurt his workers during the Homestead Strike, and both he and Rockefeller were later criticized by the public and media. At the same time their monopolies helped better the economy. Although they were said to be people only influenced by greed they continued to donate to charity and help better people's lives.