TIL John D. Rockefeller's estimated $1.4 billion net worth in 1937 was equivalent to 1.5% of U.S. GDP. According to this metric he was (and still is) the richest individual in American business and economic history.

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TIL John D. Rockefeller's estimated $1.4 billion net worth in 1937 was equivalent to 1.5% of U.S. GDP. According to this metric he was (and still is) the richest individual in American business and economic history.(hbs.edu)

submitted 2 months, 3 weeks ago by RedditIsAGranfaloon to /r/todayilearned (41.2m)

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[–][deleted]1 point2 months, 3 weeks ago

To put it in context he pretty much owned the entire US petrochemical industry outright. Not only that, but every industry that relied on it for energy. Fuel for your harvester combine to get your crops in before winter? That’s him. Heating oil for your furnace? That’s him. Gas for your truck? Him. Kerosene for your table lamp so your kid can do homework? Him. Your Model T needs an oil change or a tank of gas? Him. He was Ma Bell of oil. And people wonder why there was a Great Depression.

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