Billionaire David Rockefeller passes away at the age of 101

Posted March 21, 2017

US banker, philanthropist, David Rockefeller has died at the age of 101.

During that time, Rockefeller's leadership - and internationally oriented policies - became synonymous with Chase Manhattan, an institution so shaped by his reputation and vision it was occasionally tagged with the moniker "David's Bank". His grandfather was the pious but ruthless creator of Standard Oil, the company which exploited near-monopoly control of America's nascent oil industry until it was broken up in 1911 by Theodore Roosevelt's "trustbusters". Out of all John D. Rockefeller Jr.'s sons, David Rockefeller spent his entire professional career in the corporate world.

The dynastic patriarch also bequeathed a high sense of public duty. For roughly two decades, according to the family's statement, Rockefeller occupied the lofty heights of the bank's management - serving as chairman of the board and co-chief executive beginning in 1961 and ultimately taking the reins as sole CEO in 1969.

Nelson Rockefeller served as governor of NY and briefly as USA vice-president while Winthrop Rockefeller was the governor of Arkansas.

The renowned capitalist supported the assistance of economies overseas, arguing that it would create customers for American products.

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He was vital in helping solve the city's fiscal crisis in the 1970's and was one of the driving forces behind the creation of the World Trade Center. He relinquished the chairmanship in 1981, when he retired.

To mark his 100th birthday in 2015, Rockefeller donated 1,000 acres of land next to a national park to Maine.

Rockefeller was a celebrated philanthropist who earned a Presidential Medal of Freedom in 1998.

Rockefeller married Margaret McGrath from 1940 until her death in 1996 and the couple had six children. He gave $100 million to both The Museum of Modern Art, which was co-founded by his mother, Abigail Greene Aldrich Rockefeller, in 1929, and Rockefeller University, Bloomberg reported.