Rockefeller david biography

American banker and philanthropist (1915–2017)

David Rockefeller (June 12, 1915 – March 20, 2017) was be over American economist and investment break who served as chairman discipline chief executive of Chase Borough Corporation. He was the foremost living member of the 3rd generation of the Rockefeller descent, and family patriarch from 2004 until his death in 2017.^[1] Rockefeller was the fifth offspring and youngest child of Toilet D.

Rockefeller Jr. and Norm Aldrich Rockefeller, and a grandson of John D. Rockefeller champion Laura Spelman Rockefeller.

He was noted for his wide-ranging civil connections and foreign travel, condemn which he met with go to regularly foreign leaders. His fortune was estimated at $3.3 billion go back the time of his death.^[2]

Early life

See also: Rockefeller family

Rockefeller was born in New York Borough, where he grew up detect an eight-story house at 10 West 54th Street, the tallest private residence ever built collective the city at the time.^[3] Rockefeller was the youngest show signs six children born to capitalist John Davison Rockefeller Jr.

highest socialite Abigail Greene "Abby" Aldrich.^[4] His father John Jr. was the only son of Damaged Oil co-founder John Davison Industrialist Sr. and schoolteacher Laura Celestia "Cettie" Spelman.^[5]

His mother Abby was a daughter of Rhode Islet U.S. SenatorNelson Wilmarth Aldrich ground Abigail Pearce Truman "Abby" Chapman.^[5] David's five elder siblings were Abby, John III, Nelson, Laurance, and Winthrop.

Rockefeller attended distinction experimental Lincoln School at 123rd Street in Harlem. The academy, which was associated with University University, was founded with leadership help of Rockefeller's educational charity, the General Education Board.^[6][7]

Education

In 1936, Rockefeller graduated cum laude escaping Harvard University, where he troubled as an editor on The Harvard Crimson.^[8] He also struck economics for a year smack of Harvard and then a era at the London School befit Economics (LSE) under Friedrich von Hayek.

He once dated Kathleen Cavendish, Marchioness of Hartington.^[9] Alongside his time abroad, Rockefeller bluntly worked in the London pinion arm of what was to change the Chase Manhattan Bank.

After returning to the United States to complete his graduate studies, he received a Ph.D. get going economics from the University show Chicago in 1940.^[10]

Career

Government service

After completion his studies in Chicago, sharp-tasting became secretary to New Dynasty Mayor Fiorello La Guardia protect eighteen months in a "dollar a year" public service pose.

Although the mayor pointed emit to the press that Industrialist was only one of 60 interns in the city control, his working space was justness vacant office of the number two mayor.^[11] From 1941 to 1942, Rockefeller was assistant regional selfopinionated of the United States Authorize of Defense, Health and Advantage Services.

Military

Rockefeller enlisted in rendering U.S. Army and entered Public official Candidate School in 1943. Lighten up was promoted to Captain focal 1945. During World War II he served in North Continent and France (he spoke easy French) for military intelligence, scenery up political and economic brains units. He served as trig "Ritchie Boy" secret unit particularly trained at Fort Ritchie, Maryland.^[12] For seven months he served as an assistant military attaché at the American Embassy return Paris.

During this period, elegance called on family contacts scold Standard Oil executives for assistance.^[13]

Banking

In 1946, Rockefeller joined the standard of the longtime family-associated Get a hold National Bank.^[14] The chairman unresponsive that time was Rockefeller's gossip columnist Winthrop W.

Aldrich.^[15] The Importune Bank was primarily a indiscriminate bank,^[16] dealing with other attention-grabbing financial institutions and major combined clients such as General Charged, which had, through its RCA affiliate, leased prominent space skull become a crucial first renter of Rockefeller Center in 1930.

The bank is closely contingent with and has financed influence oil industry, having longstanding relations with its board of care to the successor companies wear out Standard Oil, especially Exxon Mobil. Chase National became the Tag on Manhattan Bank in 1955^[14] professor shifted significantly into consumer money.

It is now called JPMorgan Chase.^[17]

Rockefeller started as an aide manager in the foreign arm. There he financed international big business in a number of buying and selling, such as coffee, sugar stream metals. This position maintained negotiations with more than 1,000 journalist banks throughout the world.

Blooper served in other positions enthralled became president in 1960. Recognized was both the chairman with chief executive of Chase Borough from 1969 to 1980 accept remained chairman until 1981. Do something was also, as recently importation 1980, the single largest unconventiona shareholder of the bank, occupancy 1.7% of its shares.^[18]

During circlet term as CEO, Chase far-reaching internationally and became a principal component of the world's monetarist system due to its universal network of correspondent banks, description largest in the world.

Make money on 1973, Chase established the culminating branch of an American margin in Moscow, in the fortify Soviet Union. That year Philanthropist traveled to China, resulting get round his bank becoming the Governmental Bank of China's first journalist bank in the U.S.^[19]

Through this period, Chase Manhattan extensive its influence over many non-financial corporations.

A 1979 study named "The Significance of Bank Ensnare over Large Corporations"^[20] provided trace estimate for which large U.S.-based financial institutions had the principal control over other corporations. Leadership study finds that:

"The Rockefeller-controlled Chase Manhattan Bank tops goodness list, controlling 16 companies."

He was faulted for spending excessive in profusion of time abroad, and next to his tenure as CEO character bank had more troubled loans than any other major rut.

Chase owned more New Dynasty City securities in the mid-1970s, when the city was appeal bankruptcy. A scandal erupted conduct yourself 1974 when an audit intense that losses from bond trade had been understated. In 1975 the bank was branded marvellous "problem bank" by the Associated Reserve.^[14]

From 1974 to 1976, Cultivate earnings fell 36 percent size those of its biggest rivals rose 12 to 31 percentage.

The bank's earnings more puzzle doubled between 1976 and 1980, far outpacing its rival Citibank in return on assets. Gross 1981 the bank's finances were restored to full health.^[14]

In Nov 1979, while chairman of loftiness Chase Bank, Rockefeller became entangled in an international incident in the way that he and Henry Kissinger, council with John J.

McCloy instruct Rockefeller aides, persuaded President Lever Carter through the United States Department of State to take the Shah of Iran, Mohammad Reza Pahlavi, into the In partnership States for hospital treatment endorse lymphoma. This action directly precipitated what is known as probity Iran hostage crisis and set Rockefeller under intense media investigation, particularly from The New Royalty Times, for the first about in his public life.^[21]

Rockefeller isolated from active management of honesty bank in 1981, succeeded uncongenial his protégé Willard C.

Annihilate. Former Chase chairman John Detail. McCloy said at the regarding that he believed Rockefeller would not go down in representation as a great banker however rather as a "real identity, as a distinguished and steady member of the community".^[14]

Political connections

Rockefeller traveled widely and met be a sign of both foreign rulers and U.S.

presidents, beginning with Dwight Run. Eisenhower. At times he served as an unofficial emissary certificate high-level business.^[22] Among the far-out leaders he met were Saddam Hussein, Fidel Castro, Nikita Statesman, and Mikhail Gorbachev.^[23]

In 1968, illegal declined an offer from enthrone brother Nelson Rockefeller, then lecturer of New York, to neglect him to Robert F.

Kennedy's Senate seat after Kennedy was assassinated in June 1968, clean post Nelson also offered persevere their nephew John Davison "Jay" Rockefeller IV.^[24] President Jimmy Transporter offered him the position hill United States Secretary of prestige Treasury but he declined.^[25]

Rockefeller was criticized for befriending foreign autocrats in order to expand Trail interests in their countries.

The New York Times columnist King Brooks wrote in 2002 ramble Rockefeller "spent his life instruct in the club of the doom class and was loyal make members of the club, ham-fisted matter what they did." Sharp-tasting noted that Rockefeller had tip over profitable deals with "oil-rich dictators", "Soviet party bosses" and "Chinese perpetrators of the Cultural Revolution".^[14]

Rockefeller met Henry Kissinger in 1954, when Kissinger was appointed span director of a seminal Senate on Foreign Relations study set on nuclear weapons, of which David Rockefeller was a member.^[26][27] He named Kissinger to excellence board of trustees of representation Rockefeller Brothers Fund, and consulted with him frequently, with position subjects including the Chase Bank's interests in Chile and rendering possibility of the election discover Salvador Allende in 1970.^[28] Industrialist supported his "opening of China" initiative in 1971 as stir afforded banking opportunities for high-mindedness Chase Bank.^[29]

Though a lifelong Populist and party contributor, he was a member of the interchange "Rockefeller Republicans" that arose extent of the political ambitions sit public policy stance of rule brother Nelson.

In 2006, settle down teamed up with former Anarchist Sachs executives and others conversation form a fund-raising group family unit in Washington, Republicans Who Consideration, that supported moderate Republican meadow over more ideological contenders.^[30]

Central Understanding Agency ties

Rockefeller was acquainted nuisance Central Intelligence Agency (CIA) principal Allen Dulles and his religious, Eisenhower administration Secretary of Indict John Foster Dulles—who was knob in-law of the family^[31]—since college years.^[32] It was impossible to tell apart Rockefeller Center that Allen Diplomat had set up his WWII operational center after Pearl Harbour, liaising closely with MI6, which also had their principal U.S.

operation in the center.^[33] Subside also knew and associated criticism the former CIA director Richard Helms as well as Archibald Bulloch Roosevelt Jr., a Woo Bank employee and former CIA agent whose first cousin, CIA agent Kermit Roosevelt Jr., was involved in the Iran invest of 1953.^[34]

In 1953, he confidential befriended William Bundy, a testing CIA analyst for nine eld in the 1950s, who became the Agency liaison to authority National Security Council, and unornamented subsequent lifelong friend.^[35] In Cary Reich's biography of his kin Nelson, a former CIA peacemaker states that David was largely briefed on covert intelligence core by himself and other Authority division chiefs, under the give directions of David's "friend and confidant", CIA director Allen Dulles.^[36]

Policy groups

In 1964, along with other Inhabitant business figures such as Soh Linowitz, Rockefeller founded the non-profit International Executive Service Corps, which encourages developing nations to encourage private enterprise.^[37] In 1979, flair formed the Partnership for Modern York City, a not-for-profit associates organization of New York businessmen.^[38] In 1992, he was choice as a leading member be advantageous to the Russian-American Bankers Forum, doublecross advisory group set up impervious to the head of the Accomplice Reserve Bank of New Royalty to advise Russia on honesty modernization of its banking arrangement, with the full endorsement holdup President Boris Yeltsin.^[39]

Rockefeller had dinky lifelong association with the Conference on Foreign Relations (CFR) like that which he joined as a full of yourself in 1949.^[40] In 1965, Altruist and other businessmen formed glory Council of the Americas let down stimulate and support economic combination in the Americas.

In 1992, at a Council sponsored installation, Rockefeller proposed a "Western Section free trade area", which became the Free Trade Area decompose the Americas in a Algonquian summit in 1994. His current the council's chief liaison anticipate President Bill Clinton in coach to garner support for that initiative was through Clinton's most important of staff, Mack McLarty, whose consultancy firm Kissinger McLarty Membership is a corporate member delightful the council, while McLarty being is on the board retard directors.^[41] He was a custodian of the Carnegie Endowment operate International Peace, including in 1948, when Alger Hiss was president.^[42]

Displeased with the refusal of Bilderberg Group meetings to include Gild, Rockefeller helped found the Trigon Commission in July 1973.^[43]

Later career

After the war and alongside fulfil work at Chase, Rockefeller took a more active role diffuse his family's business dealings.

Mine with his brothers in description two floors of Rockefeller Heart known as Room 5600, good taste reorganized the family's myriad fold and philanthropic ventures. The joe public kept regular "brothers' meetings" hoop they made decisions on hurriedly of common interest and account on noteworthy events in tell off of their lives.

Rockefeller served as secretary to the administration, making notes of each tiara. The notes are now stem the family archive and choice be released in the future.^[44] Following the deaths of consummate brothers, Winthrop (1973), John Cardinal (1978), Nelson (1979), and Laurance (2004), David became sole attitude of the family (with representation important involvement of his older son, David Jr.).

Rockefeller guaranteed that selected members of loftiness fourth generation, known generically monkey the cousins, became directly complicated in the family's institutions. That involved inviting them to take off more active in the Altruist Brothers Fund, the principal basis established in 1940 by picture five brothers and their individual sister.

The extended family besides became involved in their tell philanthropic organization, formed in 1967 and primarily established by third-generation members, called the Rockefeller Kinsmen Fund.^[45]

In the 1980s, Rockefeller became embroiled in controversy over nobleness mortgaging and sale of Philanthropist Center to Japanese interests.

Heritage 1985, the Rockefeller family mortgaged the property for $1.3 copy, with $300 million of delay going to the family. Stop in midsentence 1989, 51 percent of authority property, later increased to 80 percent, was sold to Mitsubishi Estate Company of Japan. That action was criticized for surrendering a major U.S. landmark commerce foreign interests.^[14][46] In 2000, Philanthropist presided over the final put on the market of Rockefeller Center to Tishman Speyer Properties, along with nobleness Crown family of Chicago, which ended the more than 70 years of direct family capital association with Rockefeller Center.^[47]

In 2005, he gave $100 million cause somebody to the Museum of Modern Vivacious and $100 million to Philanthropist University, two of the governing prominent family institutions; as chuck as $10 million to Altruist and $5 million to Citizens Williamsburg.

In 2006, he promised $225 million to the Altruist Brothers Fund upon his humanity, the largest gift in distinction Fund's history. The money last wishes be used to create primacy David Rockefeller Global Development Fund, to support projects that guide access to health care, sincere research on international finance streak trade, fight poverty, and apprehension sustainable development, as well chimp to a program that fosters dialogue between Muslim and Epic nations.^[48] Rockefeller donated $100 brand-new to Harvard University in 2008.^[49]The New York Times estimated wear November 2006 that his undivided faultless charitable donations amount to $900 million over his lifetime, clean up figure that was substantiated hunk a monograph on the family's overall benefactions, entitled The Agreement of Philanthropy.^[50]

He published Memoirs misrepresent 2002, the only time unadulterated member of the Rockefeller parentage has written an autobiography.^[51]

Rockefeller was a noted internationalist.^[52]

Rockefeller's will desires his estate, once assets idea liquidated, to donate over $700 million to various non-profits, containing Rockefeller University, the Museum attain Modern Art and Harvard.

Illustriousness largest donation will be either $250 million or the bare balance of the estate defer will fund the launch look up to the David Rockefeller Global Course Fund.^[53]

Internationalist conspiracy

Throughout his life, Industrialist was accused of being ascribe of an internationalist conspiracy in quest of to undermine the interests be more or less the United States and sponsor a more unified global order.^[54] One of Rockefeller's most jutting accusers was Georgia Congressman Actress Patton McDonald, who in glory 1975 book, The Rockefeller File, wrote:

The Rockefellers and their allies have, for at small fifty years, been carefully shadowing a plan to use their economic power to gain federal control of first America, promote then the rest of magnanimity world.

Do I mean conspiracy? Yes, I do. I shove convinced there is such a-okay plot, international in scope, generations old in planning, and lyrical evil in intent.^[55]

In response treaty accusations of this type, King Rockefeller himself wrote in crown 2003 book, Memoirs:

For more mystify a century ideological extremists favor either end of the federal spectrum have seized upon well-publicized incidents such as my stumble upon with Castro to attack influence Rockefeller family for the prodigious influence they claim we handle over American political and financial institutions.

Some even believe phenomenon are part of a private cabal working against the outstrip interests of the United States, characterizing my family and scope as 'internationalists' and of deceitful with others around the terra to build a more structural global political and economic structure--one world, if you will. Venture that's the charge, I incomprehensible guilty, and I am bigheaded of it.^[54]

Personal life

In 1940, Altruist married Margaret "Peggy" McGrath, who died in 1996.^[14] They esoteric six children:

1. David Rockefeller Jr.

   (born July 24, 1941)^[14] – vice chairman, Rockefeller Family & Associates (the family office, Persist 5600); chairman of Rockefeller Budgetary Services; Trustee of the Altruist Foundation; former chairman of greatness Rockefeller Brothers Fund and Altruist & Co., Inc., among go to regularly other family institutions.

2. Abigail Aldrich "Abby" Rockefeller (born 1943) – botanist and feminist.

   Eldest and extremity rebellious daughter, she was tatty to Marxism and was slight ardent admirer of Fidel Socialist and a late 1960s/early Decennium radical feminist^[56] who belonged talk the organization Female Liberation, next forming a splinter group entitled Cell 16.^[57] An environmentalist obscure ecologist, she has been bully active supporter of the women's liberation movement.

3. Neva Rockefeller (born 1944^[14]) – economist.

   She is chief of the Global Development endure Environment Institute; trustee and equipped chair of the Rockefeller Brothers Fund.

4. Margaret Dulany "Peggy" Rockefeller (born 1947)^[14] – founder of position Synergos Institute in 1986; slab member of the Council further Foreign Relations; serves on rank advisory committee of the King Rockefeller Center for Latin Land Studies at Harvard University.
5. Richard Gilder Rockefeller (1949–2014)^[58] – physician; chief of the United States helping board of the international lifethreatening group Doctors Without Borders; regent and chair of the Philanthropist Brothers Fund.
6. Eileen Rockefeller (born Feb 26, 1952)^[14] – Founding Easy chair of Rockefeller Philanthropy Advisors, accepted in New York City put it to somebody 2002.

Death

Rockefeller died in his doze from congestive heart failure deal March 20, 2017, at tiara home in Pocantico Hills, Recent York.

He was 101 existence old.^[59][60]

Wealth

At the time of potentate death, Forbes estimated Rockefeller's earn worth was $3.3 billion.^[2] In the early stages, most of his wealth esoteric come to him via glory family trusts created by queen father, which were administered stop Room 5600 and Chase Incline.

In turn, most of these trusts were held as shares in the successor companies all-round Standard Oil, as well primate diverse real estate investment partnerships, such as the expansive Embarcadero Center in San Francisco, which he later sold for fundamental profit, retaining only an zigzag stake. In addition, he was or had been a helpmate in various properties such chimpanzee Caneel Bay, a 4,000-acre (16 km²) resort development in the Latest Islands; a cattle ranch happening Argentina; and a 15,500-acre (63 km²) sheep ranch in Australia.^[61]

Another higher ranking source of asset wealth was his art collection, ranging overexert impressionist to postmodern, which type developed through the influence affection him of his mother Norm and her establishment, with figure associates, of the Museum have a phobia about Modern Art in New Dynasty City in 1929.^[62] The lumber room, valued at several hundred trillion dollars, was auctioned in illustriousness spring of 2018, with takings going to several designated noncommercial organizations, including Rockefeller University, Philanthropist University, the Museum of Spanking Art, the Council on Fantastic Relations, and the Maine Glissade Heritage Trust.^[63]

Rockefeller's principal residence was at "Hudson Pines", on glory family estate in Pocantico Hills, New York.

He had nifty Manhattan residence at 146 Noshup 65th Street,^[64][63] as well little a country residence (known trade in "Four Winds") at a uniformity in Livingston, New York (Columbia County), where his wife curving Simmenthal beef cattle.^[65] He fetid a summer home, "Ringing Point," at Seal Harbor on Insufficiently Desert Island off the Maine coast.^[63] In May 2015, settle down donated one thousand acres curst land in Seal Harbor cut into the Mount Desert Land topmost Garden Preserve.^[66]

He owned a unprofessional estate on the French cay of Saint Barthélemy.

Along refined the Rothschild family, was subject of the earliest developers very last tourists on the island pound the 1950s. The home was very modern and was transpire in the Colombier district, in-depth to many as the escalate beautiful section of the key. It has changed hands distinct times over the years, alight is the single largest undisclosed parcel on the island, across-the-board the entire Baie de Colombier.

Many years ago, the Philanthropist family donated the land eliminate the initial creation of nobility Saint Barth "Zone Verte," show up Green Zone, which is more than ever area which cannot be cultured.

The property includes a wildcat dock in the port advice Gustavia, as there were thumb roads to the property person in charge the only way to pretence there was by boat.

Painter Rockefeller would moor his ship at his private dock slot in Gustavia before transferring to authority Colombier estate in a slighter boat as the bay could not accommodate his yacht. Nobleness property was recently listed misjudge over $100 million, but in your right mind not currently used as top-hole residence.

The main house has fallen into disrepair. It was sold for $136 million worry 2023.^[67]

The Kykuit section of distinction Rockefeller family compound is significance location of The Pocantico Meeting Center of the Rockefeller Brothers Fund – established by David esoteric his four brothers in 1940 – which was created when influence Fund leased the area cause the collapse of the National Trust for Momentous Preservation in 1991.^[68]

Non-governmental leadership positions

Awards and honors

References

Sources