Who was David Rockefeller?

20 March, 2017, 20:43 | Author: Eloise Marshall
  • MANDELA AND ROCKEFELLER MEET AT BUSINESS BREAKFAST

David was the oldest living Rockefeller until his death today at the age of 101. Rockefeller, who reportedly gave away almost $2 billion in his lifetime, "died peacefully in his sleep" of congestive heart failure at his home in Pocantico Hills, New York, spokesman Fraser Seitel said in a statement.

During the 1970s Rockefeller was chairman and chief executive of Chase Manhattan Bank and helped settle New York City's financial crisis in the middle of the decade. His charitable activities earned him the Presidential Medal of Freedom in 1998, and he marked his 100th birthday by giving 1,000 acres of land to the state of ME in 2015. With the passing of his siblings, he became the guardian of his family's fortune and head of a sprawling network of family interests, both business and philanthropic, that ranged from environmental conservation to the arts. Rockefeller eventually became company president, and served as a Chairman until his retirement in 1986.

David Rockefeller was also known for his philanthropy, bequeathing $225 million to the Rockefeller Brothers Fund, a foundation promoting global social change.

David graduated from Harvard University in 1936 then earned a PhD in economics from the University of Chicago.

Chase Manhattan grew from a $4.8 billion institution in 1946 when he joined to a bank with $76.2 billion in assets when he stepped down in April 1981.

He parted company with some of his fellow capitalists on income taxes, calling it unseemly to earn $1 million and then find ways to avoid paying taxes on it. As you have surmised, David's grandfather was Standard Oil founder John D. Rockefeller.

Rockefeller was estimated to have met more than 200 rulers in more than 100 countries during his lifetime, and often was treated as if he were a visiting head of state.

He donated nearly $2 billion to a wide range of institutions, including The Rockefeller University, Harvard University, the Museum of Modern Art, the Rockefeller Brothers Fund and the Council on Foreign Relations. His brother Nelson served as governor of NY and US vice president while another brother, Winthrop, served as governor of Arkansas. But it slipped from its standing then as No. 3 in the world and was purchased by Chemical Bank of NY in 1996.

For his philanthropic efforts, David received the Presidential Medal of Freedom, the United States' highest civilian honor, in 1998.

He married Margaret McGrath in 1940 and had six children. His wife, an active conservationist, died in 1996.

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