John D. Rockefeller controlled oil in the United States.
John D. Rockefeller . Rockefeller formally founded the Standard Oil Company , Inc. in 1870 as an Ohio partnership with his brother , Henry Flagler , Jabez A. Bostwick , Samuel Andrews , and a silent partner , Stephen V. Harkness . As kerosene and gasoline grew in importance , Rockefeller 's wealth soared and he became the richest person in the country , controlling 90 % of all oil in the United States at his peak . Standard Oil was the first great business trust in the United States .