Home › R › Rockefeller (JOHN DAVISON an American)

Rockefeller (JOHN DAVISON an American)

JOHN DAVISON, an American capitalist; born in Richford, Tioga co., N. Y., July 8, 1839. He engaged in business when he was 16, and soon showed ability in detail and discretion in management. When discoveries of petroleum roused speculative interest in 1860, he owned a refinery in Cleveland, O. In 1870 he became president of the Standard Oil Company, a monopolistic corporation, and through which he accumulated immense wealth.

He made large donations to educational ROCKEFELLER institutions, notably to the University of Chicago, to which he has given in all JOHN D. ROCKEFELLER, SR. about $23,000,000. In 1902 he founded the General Education Board (q. v.) to promote higher education, and later established the Rockefeller Foundation (q. v.) and the Rockefeller Institute for Medical Research (q. v.) In November, 1920, he founded the Laura Spellman Foundation, in memory of his wife, with an endowment of $65,000,000.