Titan: The Life of John D. Rockefeller, Sr.

First, the author. I had previously read: Washington, Hamilton and Grant. Each successively became my favorite until Titan. Perhaps it was more about the subject than the substance, but I still like Grant as being his best. Chernow makes a snarky comment about US Grant as President but Titan was written years before Grant. I have the most profound respect and admiration for Chernow and this is clearly a 5-star read!Second, I read the Kindle version. Since I had eye surgery, I had to use 1.5 readers but had no issues.Lastly, John D. Rockefeller, Sr (JDR) was a unique American! He lived (1839 -1937) in a turbulent time of our history. He avoided the American Civil War by claiming he had to support his mother and sibling as his father had abandoned the family. He was born in New York, was an abolitionist and an Evangelical Baptist. His advanced education was a 10-week course in bookkeeping.When the Civil War ended, JDR saw an opportunity in the oil business (the commercial production of kerosene). He perceived that free competition only created chaos with both the supply and price. His Standard Oil Company, initially started in Cleveland, Ohio eliminated all the competition and established a monopoly that ultimately extended worldwide. The book suggests that JDR sold a quality product at a fair price. The book does not address the issue of income tax and whether the personal income tax levied by Lincoln was assessed against business. At any rate, JDR ultimately became the wealthiest man in the world ($418B equivalent in 1913) and will probably maintain that status for ever. One by product of kerosene was gasoline. At the time there was no use for it and in the absence of an EPA it was wasted on land and in the waterways. JDR’s Standard Oil profited when gasoline powered the automobile industry. Finally, the government busted the Standard Oil trust, creating 34 separate business entities. Since JDR had a 25% interest in Standard Oil, as punishment, he was awarded a 25% interest in each of the 34 businesses. The oil business was basically recession/depression proof and benefitted from WWI during JDR’s lifetime. He died at 99.There is no doubt that JDR was a philanthropist. Early on he supported his church in Cleveland. He also gave funds to Spellman College and established the University of Chicago. Later, he supported medical issues and facilities. Many were skeptical of his motives but was besieged for help with this, that and the other projects. I believe that JDR’s, Sr greatest legacy was his son, JDR, Jr. He was tasked to administer his father philanthropic efforts. This became his full-time job. Among a host of other efforts, JDR, Jr built the Rockefellers Center in New York City and restored colonial Williamsburg. When he did get involved in the business operations, he tried to influence a labor dispute that ultimately ended in violence and death (the Ludlow Massacre).His was a masterful life and this story was professionally researched and written. There are probably hundreds of descendants of JDR, Sr whose inheritance made them self-sustaining from day one. Many others have involved themselves in business and politics and helped make our society better.

Excellently researched biography by Ron Chernow will give you much insight into such an enigmatic figure, from his precarious childhood and troubled relationship with a flim-flam father, to a complicated but rock-steady businessman. Rockefeller's vision was unparalleled until Bill Gates came along with a similar sense of where he wanted to take a new industry.Chernow shows the rivalry and the jealousy of those less prescient; those who would sink a well, drain it dry and take what money they could get. Rockefeller’s tactics may seem unethical today, but not illegal then, as they may be now that we’ve had time to staunch a free-flowing Capitalism. He stabilized prices with these tactics, made oil available around the world, (ridding us of the need of whale oil—yay!), oh and got very rich, which is not a crime, by the way.His philanthropy, compassion, and generosity on a personal level (while he and his family lived very simply) is matchless. Some might try to portray him as greedy, but few of us understand how to create such wealth—it is a gift. Those who have it understand that the creation of such wealth is more of a responsibility and an indicator of productivity than a need to amass dollars into unwieldy amounts.This seems to be where Chernow demonstrates a blind spot: John D. Rockefeller was a man of Christian faith and believed his vision and talent for business were gifts from God. If you do not subscribe to this faith the notion may leave you cold, but Rockefeller had no doubt as to who he was, what he was doing and why. He dauntlessly followed through despite the derision, adversity, sabotage, and yes, jealousy. He not only shaped business for the 20th century and beyond, but gave us our current model for philanthropy (that’s redistribution as it should be – not compelled, but willing).Did you have a car that got you where you needed to go? Was your home kept warm without the use of whale oil? Did you know someone who was employed in one of the many jobs the industry created? Thank John D. Rockefeller. Can we use this as a stepping stone to a new type of fuel industry? Absolutely! We all stand on the shoulders of those who have gone before, and John D.’s shoulders are of mythical--Titanic--proportion.

Absolutely fascinating to read of a truly self made man. Equally admirable and abominable, I constantly went back and forth regarding my feelings for the subject. The parallels to the modern day business behemoths are fun to draw, but it is also easy to see the genesis of so much of what ails society today in the form of wealth inequality and corruption. I concluded Mr. Rockefeller’s long life of philanthropy was redemptive, and his humility left me with a favorable opinion. Just a phenomenal character study by Ron Chernow. Thoroughly enjoyed the book and highly recommend.