Industrialists © Mark Batik Jesuit College Preparatory.
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Transcript of Industrialists © Mark Batik Jesuit College Preparatory.
Industrialists
© Mark BatikJesuit College Preparatory
Andrew Carnegie Steel industrialist Benefit of timing for
the widespread application of steel
Gospel of Wealth Philanthropist
John D. Rockefeller Secretly bought new
oil related companies such as engineering and pipeline firms
Another tactic was to buy up a competing oil company
Used secret deals with the railroads
JD Rockefeller Standard Oil
Trust Global
Corporation Benefit of
margins
J.P. Morgan Banker Railroads and Steel Purchased
Carnegie Steel and created US Steel
First billion dollar company
Vertical Integration Owning all levels of production For example: Carnegie Steel Company Benefits
– No supply problems– Controls costs– Operate company as needed
Trusts Begun from inheritance or beneficial
trusts People held the control of a company
in trust
Holding Company Where one company owns outright or
a controlling interest in another company
Used to integrate the activities of many companies
Rockefeller uses its application