On this day in history, March 3:
John D. Rockefeller announced his retirement from managing his business in 1910, so he could devote himself full-time to philanthropy. In his lifetime, he gave away $550 million.
Rockefeller was born in 1839 to a fun-loving man who owned farm land and sold patent medicines. His mother was a puritanical, religious woman who raised her children strictly. They moved to Cleveland, Ohio, John graduated from high school there and, after three months of commercial college, he found a job at age 16 as a clerk in a commission house for 50 cents a day.
From the start, Rockefeller sought to give away one-tenth of his earnings to charity. In 1859, when he was 19, he started his first company, a commission business dealing in hay, grain, meat and other goods. Hard-working and meticulous, he supervised office management and bookkeeping, and grossed $450,000 the first year.
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