John D. Rockefeller built the Standard Oil Company into the world's largest corporation, and in the process, he became incredibly wealthy. At one point in 1913, his personal net wealth of $900 million was estimated at 3% of US GDP.
Rockefeller was a great business manager, capital allocator, and investor. He regularly used Standard Oil stock to acquire other oil producers, refiners and pipeline operators, telling sellers owning the stock would be a better investment than having cash in the long run.
As the majority owner of the company, Rockefeller prioritized shareholder returns. The company paid out more than two-thirds of its profits as dividends yearly, and he once remarked, "Do you know the only thing that gives me pleasure? It's to...
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