Published: Mon, March 20, 2017
Medicine | By Megan Pierce

David Rockefeller, last of generation in family, dies at 101

David Rockefeller, last of generation in family, dies at 101

David Rockefeller, the famed banker and philanthropist, died Monday at age 101, according to a spokesperson for the Rockefeller Brothers Fund. "But I think that he saw what needed to be done in Iran in the way of education and health and in many other areas, and he took steps to do something". His brother, Nelson Rockefeller, served as vice president under U.S. President Gerald Ford after being elected as governor of NY for four terms starting in 1959.

Rockefeller had pledged to leave $100 million to the museum, $100 million to Harvard University and $100 million to Rockefeller University, founded by his grandfather.

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.

It was reported Rockefeller gave away $2bn of his fortune over his lifetime.

He set up bequests ranging from a few million dollars to hundreds of millions of dollars.

David Rockefeller, however, wielded power and influence without ever seeking public office.

The private IL university was an educational institution that his grandfather, John D., America's first billionaire, helped found with a donation equivalent in today's currency to roughly $16 million.

The Rockefeller name came to symbolize unpopular USA banking policies in debtor countries, and Rockefeller was scorned on the left for working with Chile's Augusto Pinochet and the shah of Iran.

David graduated from Harvard University in 1936 then earned a PhD in economics from the University of Chicago. Chase eventually merged with The Manhattan Company to become Chase Manhattan. He also founded the Trilateral Commission, an organization created to promote cooperation among the nations of North America, Western Europe and Japan. The group's 350 members have been criticized as working to promote the economic interests of its wealthiest members. As you have surmised, David's grandfather was Standard Oil founder John D. Rockefeller. They had six children and 10 grandchildren. Winthrop (1912 - 1973) was an Arkansas governor (1967 - 1971). His brother Nelson served as governor of NY and US vice president while another brother, Winthrop, served as governor of Arkansas. 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.

Rockefeller and his wife, the former Margaret McGrath, married in 1940 and had six children - David Jr., Richard, Abby, Neva, Margaret and Eileen.

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