Billionaire philanthropist David Rockefeller dies at age 101 Published: March 20, 2017 11:21 AM EDT NEW YORK (AP) David Rockefeller, the billionaire businessman and philanthropist who was the last in his generation of one of the country’s most famously philanthropic families, died Monday. He was 101.Rockefeller died in his sleep at his home in suburban Pocantico Hills, New York, according to his spokesman, Fraser P. Seitel.He was the youngest of six children born to John D. Rockefeller Jr. and the grandson of Standard Oil co-founder John D. Rockefeller. 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.To mark his 100th birthday in 2015, Rockefeller gave 1,000 acres of land next to a national park to the state of Maine.Aspects of the Rockefeller brothers’ upbringing became famous, including the 25-cent allowance, portions of which had to be set aside for charity and savings, and the inculcation that wealth brings great responsibility.Two of his brothers held elected office: Nelson Rockefeller served as the governor of New York, hungered for the White House and briefly served as vice president. Winthrop Rockefeller was a governor of Arkansas.David Rockefeller, however, wielded power and influence without ever seeking public office. Among his many accomplishments were spurring the project that led to the World Trade Center.And unlike his other brothers, John D. III and Laurance, who shied from the spotlight and were known for philanthropy, David Rockefeller embraced business and traveled and spoke widely as a champion of enlightened capitalism.“American capitalism has brought more benefits to more people than any other system in any part of the world at any time in history,” he said. “The problem is to see that the system is run as efficiently and as honestly as it can be.”Rockefeller graduated from Harvard in 1936 and received a doctorate in economics from the University of Chicago in 1940. He served in the Army during World War II, then began climbing the ranks of management at Chase Bank. That bank merged with The Manhattan Company in 1955.He was named Chase Manhattan’s president in 1961 and chairman and chief executive officer eight years later. He retired in 1981 at age 65 after a 35-year career.In his role of business statesman, Rockefeller preached capitalism at home and favored assisting economies abroad on grounds that bringing prosperity to the Third World would create customers for American products.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. He didn’t say how much he paid in taxes and never spoke publicly about his personal worth. In 2015, Forbes magazine estimated his fortune at $3 billion.As one of the Rockefeller grandchildren, David belonged to the last generation in which the inherited family billions were concentrated in a few hands. The next generation, known as “the cousins,” has more people.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.Under Rockefeller, Chase was the first U.S. bank to open offices in the Soviet Union and China and, in 1974, the first to open an office in Egypt after the Suez crisis of 1956.In his early travels to South Africa, Rockefeller arranged clandestine meetings with several underground black leaders. “I find it terribly important to get overall impressions beyond those I get from businessmen,” he said.But Rockefeller took a lot of heat for his bank’s substantial dealings with South Africa’s white separatist regime and for helping the deposed, terminally ill Shah of Iran come to New York for medical treatment in 1979, the move that triggered the 13-month U.S. embassy hostage crisis in Tehran.Rockefeller maintained the family’s patronage of the arts, including its long-standing relationship with New York’s Museum of Modern Art, of which his mother had been a fervent patron. His private art collection was once valued at $500 million. 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.One of the major efforts of Rockefeller’s later years was directed at restoring family influence in the landmark Rockefeller Center, most of which had been sold in the 1980s to Japanese investors. He eventually organized an investor group to buy back 45 percent of the property.His philanthropy and other activities earned him a Presidential Medal of Freedom, the nation’s highest civilian honor, in 1998.Rockefeller and his wife, the former Margaret McGrath, married in 1940 and had six children – David Jr., Richard, Abby, Neva, Margaret and Eileen. His wife, an active conservationist, died in 1996. SHARE Author: AP Do you see a typo or an error? Let us know.
Related Topics Tim Tedeschi As offensive coordinator in Cincinnati, Browns head coach Hue Jackson found success when he employed a duo of running backs in Jeremy Hill and Giovani Bernard. Browns running backs Isaiah Crowell and Duke Johnson are hopeful they can produce similar results in Jackson’s system.Johnson said he is looking forward to how he and Crowell will be used in tandem in Jackson’s offense.“I am excited to see it,” Johnson said. “We are off to a good start already, but I am just happy to see how far and how in depth we go with the offense.”The Browns selected five wide receivers in the NFL Draft, but did not draft a single running back. Crowell said the lack of a running back draft pick shows what the coaching staff thinks about his and Johnson’s abilities.“That is just a confidence booster,” Crowell said. “Really, it just showed me that [Head Coach Hue Jackson] has great confidence in us. We want to go out there and give them all we’ve got.”Johnson said while the comparisons to Hill and Bernard are easy to make, he is focused on filling the role Jackson wants the running backs to fill.“We don’t really have a name for it, just whatever he wants,” Johnson said. “Split out, running the ball, whatever coach wants, that’s what we are here for.”Crowell said he is eager to continue the success the Browns’ running game had in 2015 in Coach Jackson’s new system.“I am very excited about it because I know Hue likes to run the ball,” Crowell said. “I feel like running the ball is a very important factor in winning and losing. I am happy about it.” Tim Tedeschi is a writer for NEOSI and a producer/contributor for the Sports on Tap Podcast. He is a senior at Indiana Wesleyan University, where he has worked as sports editor of the school newspaper, general manager of the college radio station, and play-by-play and color commentator for NAIA and high school basketball, soccer, and football. Follow him on Twitter @tim_tedeschi.
COMMENT Written By A horse named for Dr. Anthony Fauci won his first race at Keeneland on Thursday.The 2-year-old colt won by 1 length as the heavy favorite against 11 rivals in the $70,000 race. Fauci ran 5 1/2 furlongs on turf in 58.65 seconds under jockey Tyler Gaffalione and paid $4.20 to win.Fauci finished second in his career debut at New York’s Belmont Park on June 3 for trainer Wesley Ward. The colt is named for the director of the National Institute of Allergy and Infectious Diseases who is advising the White House on the coronavirus pandemic.The victory, worth $42,000, increased Fauci’s career earnings to $54,800.Fauci was purchased for $175,000 at the 2019 Keeneland September Yearling Sale.Image credits: AP LIVE TV First Published: 10th July, 2020 07:20 IST Associated Press Television News Last Updated: 10th July, 2020 07:20 IST It’s Fauci By A Length; Horse Wins 1st Race At Keeneland A horse named for Dr. Anthony Fauci won his first race at Keeneland on Thursday WATCH US LIVE SUBSCRIBE TO US FOLLOW US