Buying the Competition
Rockefeller’s negotiating style developed as his power and wealth increased. He would simply show a competitor Standard Oil’s books and showing them the force their smaller company was up against. After that, he threatened to bankrupt them if they wouldn’t sell. Rockefeller eventually found a way to acquire the companies anyway, by buying them at the ensuing bankruptcy auction.
John D. Rockefeller Sr. with his grandchildren. Source: Pinterest
He was intimidating, and his ruthless reputation within the industry worked in his favor during these “negotiations.” He gained deep satisfaction from using sneaky tactics to acquire control over companies that resisted his attempt to form a railroad cartel (which benefited his business over the competition).