Who was America's first billionaire?
George Washington
Bill Gates
John D. Rockefeller
50%
Correct
Andrew Carnegie
The concept of a "billionaire" is a pretty staggering thing. A billion is a thousand millions, so the difference between a "millionaire" and a "billionaire" is huge. If you're worth a million bucks, you're closer to being broke than you are to being a billionaire — about a thousand times closer, as a matter of fact! It's no surprise that it took the United States generations to produce its first billionaire. That would be John D. Rockefeller, who made his fortune in oil. His company, Standard Oil, was a monopoly that crushed competitors by any means necessary. Rockefeller became a billionaire in 1916. Companies and fortunes like his helped bring about the "Progressive Era," in which reformers like President Teddy Roosevelt busted up monopolies and trusts. But reforms or no reforms, Rockefeller got by just fine: His fortune was so great that even today his descendants rank among the richest people in the United States.
Source: Thought Co | Date Updated: June 9, 2021