How to Find the Next Rockefeller... and Ride His Coattails
He is considered the wealthiest American of all time.
When he died, his net worth was close to $400 billion (2016 dollars, inflation adjusted).
It would take the combined wealth of Microsoft’s Bill Gates, Amazon’s Jeff Bezos, Berkshire’s Warren Buffett, Facebook’s Mark Zuckerberg, and the next three names on the Forbes 400 list to equal his net worth.
John D. Rockefeller, America’s first billionaire, started his first company when he was only 20 years old.
Instead of drilling for oil, he concentrated on refining it.
He let others take the risk of trying to find the oil. He saw that the money was in taking oil that came from the ground and turning it into kerosene as a light source and gasoline for automobiles.
As his business began to grow, Rockefeller started to make favorable deals with railroads and shipping lines to transport oil.
He then set up his own system of transporting his products and continued to streamline the company’s operations, which pushed profit margins higher.
At one time, he controlled 90% of all the oil in the U.S.
The company he founded, Standard Oil Company, was so big and powerful that in 1911, the government broke it up into 34 separate companies.
Many of those smaller companies still exist today.
In fact, Standard Oil’s successors, such as ExxonMobil, BP, and Chevron, are still among the companies with the largest income worldwide!
Investing With Great Managers
While Rockefeller’s name is still well known today, there were hundreds of junior partners that amassed generational wealth by piggybacking off his genius for making money.
Though not as well known, they became millionaires by being able to identify an outstanding entrepreneur and then invest right alongside him.
At times, there are a few great entrepreneurs who stand head and shoulders above the rest.
These people are able to identify a problem, offer a solution, and then scale it very quickly.
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In the 1950s, Sam Walton began to transform the retail industry. By 1962, he had founded Wal-Mart — today, one of the world’s largest companies by revenue.
When he had just started out, Walton encouraged his family, friends, and store managers to invest just $1,000 in his stores.
Many of those early investors became Wal-Mart millionaires and billionaires.
Ten years later, if you had invested just $10,000 in Wal-Mart, your investment would have been worth $19 million.
That’s the power of being able to identify and invest alongside great entrepreneurs: They do all the heavy lifting, and you make a lot of money.
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All my best,
Charles cut his chops on the trading floor of the New York Futures Exchange before moving on to become a wildly successful money manager on Wall Street.
And with more than 35 years of recommending stocks under his belt, Charles has knocked the cover off the ball, compiling an amazing record of success and posting gain after gain for his loyal readers. He is the editor of Park Avenue Investment Club and the Insider Alert newsletters.
Charles is also the author of the highly acclaimed book, Getting Started in Value Investing.
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