World’s First Billionaire

Who is World’s First Billionaire?

See the above photograph. Above photograph is of Mr. John D. Rockefeller, the founder of USA’s largest Oil Company – Standard Oil.

John D. Rockefeller on 29th September 1916 became a first ever Billionaire in this world. His official Net worth surpassed well over $ 1 Billion in 1916.

Born in 1839 John D. Rockefeller left high school in 1855 to study business.

In 1862 he invested in an oil refinery and his  company would soon be known as Standard Oil.

At the time of his passing, if adjusted for the size of the economy, his net worth would translate to about $200 billion today, placing today's billionaires well in his shadow.

Well, Yes this is really true. If we translate Jon’s $ 1 Billion net worth of 1916 in today’s world adjusting inflation than his today’s net worth would be US $ 200 Billion – 5 times the Net worth of Bill Gates….!!!!

We'd like to add that he gave away over $500 million during his life, which would compare to about $5 billion today.

Before his death at age 97, the philanthropist had given away $500 million, including $80 million to the University of Chicago, which he had helped found in 1892. With son John D. Rockefeller Jr., John Sr. also founded Rockefeller University, the General Education Board, and the Rockefeller Foundation.

Thus, John D Rockefeller’s wealth was much much higher than today’s billionaires. He knew since childhood that, how to create money. John was originally a dealer in farm goods. Dipping into the oil business in 1863, Rockefeller founded Standard Oil seven years later.