David Rockefeller, banker and philanthropist, dies at 101
- Author: Joanne Flowers Mar 20, 2017,
Mar 20, 2017, 20:43
David Rockefeller, the famed banker and philanthropist, died Monday at age 101, according to a spokesperson for the Rockefeller Brothers Fund.
Rockefeller, who controlled Chase Manhattan bank for more than a decade, was the grandson of Standard Oil co-founder John D Rockefeller.
During his time as head of Chase from 1969 to 1981, Rockefeller forged such a network of close relationships with governments and multinational corporations that observers said the bank had its own foreign policy.
To mark his 100th birthday in 2015, Rockefeller donated more than 1,022 acres of land in Seal Harbor, Maine to the Mount Desert Island Land and Garden Preserve. He actually outlived all of his siblings which placed him in charge of the family's business and philanthropic interests. He served in the Army during World War II, then began climbing the ranks of management at Chase Bank.
Rockefeller graduated from Harvard in 1936 and received a doctorate in economics from the University of Chicago in 1940. Chase eventually merged with The Manhattan Company to become Chase Manhattan.
In his role of business statesman, Rockefeller preached capitalism at home and favored assisting economies overseas on grounds that bringing prosperity to the Third World would create customers for American products.
He was the last surviving grandchild of John D. Rockefeller.
As of 2016, David Rockefeller had an estimated worth of more than $3 billion.
He also was viewed with anger on the right for pushing to open trade with China and the Soviet Union during the Cold War. "I find it terribly important to get overall impressions beyond those I get from businessmen", he said. Nelson (1908 - 1979) was a vice president of the United States (1974 - 1977) under President Gerald Ford and a NY governor (1959 - 1973).
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. The Rockefeller estate overlooking the Hudson River north of New York City is the repository of four generations of family history, including Nelson's art and sculpture collection.
Rockefeller, also known as "the banker's banker", "one of the most influential figures in the history of American philanthropy and finance, is considered by many to be "America's last great worldwide business statesman", the statement said".
Rockefeller married Margaret McGrath from 1940 until her death in 1996 and the couple had six children.