William Rockefeller Jr.

William Avery Rockefeller Jr. (May 31, 1841 – June 24, 1922) was an American businessman and financier. Rockefeller was a co-founder of Standard Oil along with his elder brother John Davison Rockefeller. He was also a part owner of Anaconda Copper, which was the fourth-largest company in the world by the late 1920s. Rockefeller started his business career as a clerk at 16. In 1867, he joined his brother's company, Rockefeller, Andrews & Flagler, which later became Standard Oil. The company was eventually split up by the Supreme Court in 1911. Rockefeller also had a significant involvement in the copper industry. In 1899, Rockefeller and Standard Oil principal Henry H. Rogers joined with Anaconda Company founder Marcus Daly to create the Amalgamated Copper Mining Company, which later returned to the name Anaconda Copper.

He married Almira Geraldine Goodsell in 1864, and they had six children. Rockefeller died in 1922, leaving a gross estate of $102 million, significantly reduced by debts and taxes. He was a prominent member of the Rockefeller family, contributing to its reputation as a leading American business dynasty.

William Avery Rockefeller Jr. was born in Richford, New York. He was the middle son of con artist William Avery Rockefeller Sr. and Eliza Davison. In addition to elder brother John, William Jr.'s siblings were Lucy, Mary, and twins Franklin (Frank) and Frances (who died young). He also had two elder half-sisters, Clorinda (who died young) and Cornelia, through his father's affairs with mistress and housekeeper Nancy Brown. In 1853 his family moved to Strongsville, Ohio. As a young pupil in public school, he was reportedly inspired and motivated by his teacher-mentor, Rufus Osgood Mason.

At the age of sixteen, he began work as a clerk for a miller in Cleveland, Ohio. About two years later, he joined his older brother's produce commission business, Clark and Rockefeller, which later supplied provisions to the Union Army.

Rockefeller was very adept in business matters. When John D. formed Rockefeller, Andrews & Flagler in 1867, he invited William to take charge of the company's export business in New York. In 1867, William Rockefeller and Co. was formed as a subsidiary to Rockefeller and Andrews. In 1870, that company became Standard Oil. In 1911 Standard Oil of New Jersey was split up by the United States Supreme Court.

In 1899, Rockefeller joined fellow Standard Oil principal Henry H. Rogers and Anaconda Copper Company founder Marcus Daly in forming the Amalgamated Copper Mining Company, a holding company that intended to control the copper industry. With Daly as company president and Rogers as Vice-President, Rockefeller and Rogers devised a scheme which earned them a profit of $36 million. First, they purchased Anaconda Properties from Daly for $39 million, with the understanding that the check was to be deposited in the bank and remain there for a definite time (National City Bank was run by Rockefeller's friends). Rogers and Rockefeller then set up a paper organization, known as the Amalgamated Copper Mining Company, with their own clerks as dummy directors, saying the company was worth $75 million.

They had Amalgamated Copper Company buy Anaconda from them for $75 million in capital stock, which was conveniently printed for the purpose. Then, they borrowed $39 million from the bank using Amalgamated Copper as collateral. They paid back Daly for Anaconda and sold $75 million worth of stock in Amalgamated Copper to the public. They paid back the bank's $39 million and had a profit of $36 million in cash.

After Daly died in November 1900, banker John Dennis Ryan rose to head Amalgamated's Montana operations. Amalgamated acquired two large competitors, and soon controlled all the mines of Butte, Montana. The company returned to the name Anaconda in 1915, and by the late 1920s Anaconda Copper Company was the fourth-largest company in the world.