William Avery Rockefeller's Parenting Method

 

The Rockefeller Family, which had a profound influence on American economic history

William Avery Rockefeller was the father of John D. Rockefeller, known as the "Oil King" of the 20th century. William, a businessman who was involved in various fields, faced numerous controversies for his illegal and unethical practices in economic activities. A ruthless trader, he also made an effort to pass on his business acumen to his children. Let's explore how William Rockefeller raised his children to become some of the wealthiest people in the world.

(Left) William Avery Rockefeller (Right) John Rockefeller

Raising His Son as a Businessman Through Practical Learning

John Rockefeller, who had a major impact on modern capitalism, was trained by his father William to become a merchant from a young age. As John grew older, William would take him to city markets. In the 1860s, as the United States was rapidly transforming from a rural society into a modern capitalist country, William showed his son the art of bargaining and taught him never to do business at a loss. Thanks to his father's hands-on lessons, by the age of seven, John was raising and selling turkeys at the market, earning money that he later used for lending with interest. John would often visit bustling ports alone, observing the changes in the world faster than anyone else. Through this practical experience, John Rockefeller was steadily growing into a businessman, following the methods taught by his father.

 

A Father Who Showed His Son the Ruthless Side of a Creditor

William understood that money management was the most crucial aspect for a businessman. Even a successful business could turn into a major problem if the finances were mishandled. To instill this lesson, when William built a new house for his son, he charged him rent. Additionally, when John sought a loan to start his own business, William demanded 10% interest, and whenever John's company faced financial difficulties, William would demand repayment immediately, often unpredictably. Despite his frustration, John always repaid his father on time and later reflected in his autobiography, "That kind of light training, I thought, would help me develop money management skills. And it actually worked." While John's feelings toward his father’s whims weren’t always positive, he learned to plan his finances meticulously. William was a shrewd merchant and the mentor who shaped John Rockefeller into the world’s richest man.

 

The harsh and cunning business education John received from his father laid the foundation for his rise to the top of global wealth.

 

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