Who is Ida Tarbell and why is she important?
Ida Tarbell was an American journalist best known for her pioneering investigative reporting that led to the breakup of the Standard Oil Company’s monopoly.
What is Ida Tarbell known for?
Ida Tarbell As the most famous woman journalist of her time, Tarbell founded the American Magazine in 1906. She authored biographies of several important businessmen and wrote a series of articles about an extremely controversial issue of her day, the tariff imposed on goods imported from foreign countries.
What did Rockefeller call Ida Tarbell?
Ida Tarbell concluded her series with a two-part character study of Rockefeller, where she described him as a “living mummy,” adding, “our national life is on every side distinctly poorer, uglier, meaner, for the kind of influence he exercises.” Public fury over the exposé is credited with the eventual breakup of …
Why did Ida Tarbell expose the Standard Oil Company?
Tarbell Exposes The Standard Oil Company Her study of Rockefeller’s practices as he built Standard Oil into one of the world’s largest business monopolies took many years to complete. Tarbell actually objected to the term, for she felt it belittled work she believed to be of historical importance.
What did Standard Oil do wrong?
The Department of Justice filed a federal antitrust lawsuit against Standard in 1909, contending that the company restrained trade through its preferential deals with railroads, its control of pipelines and by engaging in unfair practices like price-cutting to drive smaller competitors out of business.
Who broke up Standard Oil?
Standard Oil
| Type | Cleveland, Ohio Corporation (1870) Business trust (1882–1892) New Jersey Holding Company (1899–1911) |
|---|---|
| Defunct | After its dissolution in 1911, the original Standard Oil Co. split into Sohio (now part of BP); ESSO (now Exxon); and SOcal (now Chevron) |
| Successor | 34 successor entities |
What is Standard Oil worth today?
If Standard Oil existed today in its single trust format, it would have been worth over $1 trillion making it the richest company in the world alongside Apple. And, John D. Rockefeller, if he were around today, would have had a net worth of around $400 billion, making him the richest man in the world.
Why was Rockefeller a robber baron?
Included in the list of so-called robber barons are Henry Ford, Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller. Robber barons were accused of being monopolists who earned profits by intentionally restricting the production of goods and then raising prices.
Did Rockefeller donate money?
Inspired in part by fellow Gilded Age tycoon Andrew Carnegie (1835-1919), who made a vast fortune in the steel industry then became a philanthropist and gave away the bulk of his money, Rockefeller donated more than half a billion dollars to various educational, religious and scientific causes through the Rockefeller …
How did Rockefeller spend his money personally?
Rockefeller Spend His Money? Although John D. Rockefeller amassed a large sum of money during his career as an oil tycoon, most of his profits went to funding philanthropic organizations, promoting the arts and sustaining centers for education and medicine.
How much money did Rockefeller giveaway?
John D. Rockefeller gave away $540 million (unadjusted for inflation) before his death in 1937 at the age of 97.