John Davison Rockefeller (July 8, 1839 - May 23, 1937) was an American industrialist and philanthropist. He founded Standard Oil in 1870 with his brother William, along with Henry Flagler, Jabez Bostwick, chemist Samuel Andrews, and a silent partner, Stephen Harkness. As kerosene and gasoline grew in importance, Rockefeller's wealth soared, and he became the world's richest man and the first American worth more than a billion dollars. Adjusting for inflation, he is often regarded as the richest person in history. He spent the last 40 years of his life in retirement. His fortune was mainly used to create the modern systematic approach of targeted philanthropy. He was able to do this through the creation of foundations that had a major effect on medicine, education, and scientific research. His foundations pioneered the development of medical research, and were instrumental in the eradication of hookworm and yellow fever. He is also the founder of both the University of Chicago and Rockefeller University. He was a devoted Northern Baptist and adhered to total abstinence from alcohol and tobacco throughout his life. He died of arteriosclerosis in 1937, two months shy of his 98th birthday.