David Rockefeller, the retired Chase Manhattan Chairman, and the grandson of John D. Rockefeller passed away at the old age of one hundred and one today. Rockefeller was the world’s oldest living billionaire until he perished Monday morning in his Pocantico Hills, NY home as he slept. His passing was due to congestive heart complications, as reported by Fraser Seitel, a spokesperson close to the Rockefeller family.
Rockefeller brought his 35-year career to an end as the chief executive of Chase Manhattan in 1981.
From the affirmation of The Rockefeller Foundation which validated his departure, he was referred to as “one of the most influential figures in the history of American philanthropy and finance, considered by many to be ‘America’s last great international business statesman’.”
He was sometimes called ‘the banker’s banker’, based on the announcement. Rockefeller is believed to have given away several billion dollars during his lifespan to a variety of organizations such as art museums, Harvard University, and Rockefeller University.
David Rockefeller was the last born child of John D. Rockefeller Jr.’s 6 children. John D. Rockefeller Jr. was the son of the Standard Oil magnate John D. Rockefeller.
In 1936 David completed studies at Harvard University and then went on to the University of Chicago where he achieved an advanced economics doctorate. Roughly 20 years later in 1961, he was designated as Chase Manhattan President then in 1969 became the chief executive and chairman of the bank.
He frequently discussed the significance of capitalism. Rockefeller was quoted as attributing capitalism to have “brought more benefits to more people than any other system in any part of the world at any time in history.”
Rockefeller concluded, “The problem is to see that the system is run as efficiently and as honestly as it can be.”
He was wed to Margaret McGrath for 56 years from 1940 to the time she died in 1996. Rockefeller and McGrath had 6 kids; David Rockefeller Jr., Abigail, Neva, Margaret, Richard, and Eileen.
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