The world’s first billionaire made his fortune in which industry?
Answer: Oil magnate John D. Rockefeller became the world’s first billionaire in 1916.
He was a co-founder of the Standard Oil Company, which dominated the oil industry. Rockefeller’s wealth soared and he became the world’s richest man and the first American worth more than a billion dollars, controlling 90% of all oil in the United States at his peak. His fortune upon his death in 1937 stood at $1.4 billion, which at the time, accounted for more than 1.5% of the national economy. Adjusted for inflation, Rockefeller was worth an estimated $340 billion in today’s dollars.