107 years ago, American oil tycoon John D. Rockefeller (1839-1937) reached an impressive milestone: he became the world's first billionaire, with a fortune estimated at 1 billion dollars. Rockefeller was the founder of the Standard Oil Company, the largest oil company of the 19th and early 20th centuries

Rockefeller was born into a large family in New York state and moved several times before settling in Cleveland. He became an assistant accountant at age 16 and went into various businesses from his early 20s, focusing on oil refining. He founded the Standard Oil Company in 1870 and ran it until 1897, remaining its largest shareholder.

Rockefeller's wealth grew as kerosene and gasoline gained importance, and he became the richest person in the country, controlling 90% of all oil in the United States at his peak. Petroleum was used throughout the country as a source of light until the introduction of electricity, and as fuel after the invention of the automobile. Additionally, Rockefeller gained enormous influence over the railroad industry, which transported its oil across the country. Through the use of the company's monopoly power, Rockefeller revolutionized the oil industry and, through corporate and technological innovations, was instrumental in widely disseminating and drastically reduce the cost of oil production

Rockefeller's company and business practices have been criticized, particularly in the writings of author Ida Tarbell. The Supreme Court ruled in 1911 that Standard Oil must be dismantled for violating federal antitrust laws. It was divided into 34 separate entities, which included companies that became ExxonMobil, Chevron Corporation and others - some of which still have the highest level of revenue in the world.

Consequently, Rockefeller became the country's first billionaire, with a fortune equivalent to almost 2% of the national economy. His personal wealth was estimated in 1913 at $900 million, which was almost 3% of the United States' gross domestic product (GDP) of $39.1 billion that year.

Rockefeller was one of the most influential and controversial figures in American history. He was admired for his business acumen and his philanthropic generosity, but also criticized for his greed and monopoly. He has been called the richest American of all time and the richest person in modern history.