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Billionaire banker David Rockefeller dies aged 101

Billionaire banker David Rockefeller dies aged 101”

Rockefeller was the sixth child of John D. Rockefeller Jr. and the grandson of Standard Oil co-founder John D. Rockefeller, who became the world's first billionaire - and made the family the wealthiest in USA history.

Bank executive, philanthropist and oil fortune heir David Rockefeller died Monday morning. She lived her life as a conservationist and passed away at 80 years old in 1996. In 2006, he bequeathed US$225 million to the Rockefeller Brothers Fund, which he and his brothers established in 1940 to promote social change worldwide.

Rockefeller was known as one of capitalism's greatest proponents, spreading its message and influence far and wide. "When others were abandoning Lower Manhattan, David built a new downtown headquarters for Chase Manhattan Bank and conceived a hugely ambitious World Trade Center to revitalize the area", he wrote.

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Here are two great quotes from the late David Rockefeller worth debating: "I believe that government is the servant of the people and not their master" and "I can only say that I have had a wonderful life".

In 1946, Rockefeller had joined the staff of the long-time family-associated Chase National Bank. In fact, it was partly on the basis of his and former Secretary of State Henry Kissinger's urging that President Jimmy Carter allowed the deposed Shah of Iran to enter the USA for medical treatment in 1979 - a decision that Bloomberg reports led to "the seizure of American hostages in Tehran from 1979 to 1981".

David Rockefeller Sr. and his wife, Margaret Peggy McGrath (1915 - 1966) had six children: David Jr.

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As one of the Rockefeller grandchildren, David belonged to the last generation in which the inherited family billions were concentrated in a few hands.

He pledged $100 million to the Rockefeller University for capital improvements and graduate studies, and another $100 million will be going to Harvard.

"David was an absolute joy", the spokesperson said. As one example, he donated $150 million to Manhattan's Museum of Modern Art, which was cofounded by his mother. As you have surmised, David's grandfather was Standard Oil founder John D. Rockefeller. He joined the United States army during World War II, where he served in military intelligence in north Africa and France.

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His charitable service earned him a Presidential Medal of Freedom, the country's highest civilian honour, in 1998. "It is my hope that the public should forever benefit from this beloved tract of land", Mr. Rockefeller, who had vacationed on the home since his birth, said when he announced the donation.



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