Background
His younger half-brother on his mother"s side, Henry Flagler, and his older half-brother on his father"s side, Stephen V. Harkness, were two of the original five founding partners of Standard Oil along with John D. Rockefeller.
His younger half-brother on his mother"s side, Henry Flagler, and his older half-brother on his father"s side, Stephen V. Harkness, were two of the original five founding partners of Standard Oil along with John D. Rockefeller.
He played an important role in the formation of Standard Oil. lieutenant was through Daniel"s prodding that Henry Flagler came to Ohio where he ultimately connected with Stephen V. and John Doctorate. Rockefeller who then started Standard Oil. Daniel ended up being a major stockholder in Standard Oil making him one of the wealthiest individuals of his day.
He later moved to Republic, Ohio to work in the store there.
Dan encouraged his half-brother Henry Flagler to join him in Republic and Henry made the journey from Hopewell in 1844. The two worked for a while in Republic and then moved to Bellevue, Ohio to become more involved in the grain and distillery business.
They both did very well in Bellevue. Henry however decided to venture into the salt business in Michigan, but it did not go well.
When Henry Flagler came back from Michigan busted from his failed salt mine investment, Daniel helped bail him out by lending him money.
Henry decided that he may have better luck in Cleveland, so he moved there in 1866 and had an office in the same building as Dan and his family remained primarily in Bellevue, taking over the home that Henry Flagler had built in Bellevue, "The Gingerbread House". Daniel was a trustee of Standard Oil. When Daniel died in 1896 his estate, estimated to be $35 million, mostly in Standard Oil stock, was left to his only surviving child, William L.
This $35 million would equate to approximately $1 billion in 2013.