John D. Rockefeller

John Davison Rockefeller (July 8, 1839 – May 23, 1937) was an American capitalist most known for his role in the early petroleum industry and the founding of Standard Oil (ExxonMobil is the largest of its descendants). Through a number of widely-criticized business tactics, Rockefeller built Standard Oil into the largest oil refining business in the world, and was for a time himself the richest man in the United States. Much of this wealth was then given away, resulting in his legacy as a great philanthropist.

Legacy

While he had always given money to charities in accordance with his strong Baptist beliefs, his public reputation while he was active in business was strongly negative. On March 3, 1910 Rockefeller announced his retirement from managing his businesses and devoted his attention to philanthropy. By the time of his death he had given away an estimated $500 million (well over $5 billion in today's dollars), and his image had become largely benign. He was particularly notable as one of the earliest and largest private benefactors of scientific medical research. He founded the University of Chicago in 1890, the Rockefeller Institute for Medical Research (now Rockefeller University) in New York City in 1901, the General Education Board in 1902, the Rockefeller Foundation in 1913, and the Laura Spelman Rockefeller Memorial in 1918, as well as giving large gifts to other institutions. His gift of $5 million dollars helped found the Great Smoky Mountains National Park. very late in life Rockefeller became known as "The Man Who Gave Away Shiny New Dimes". He reportedly gave away about $10.000 worth of dimes before his death. people such as Harvey Firestone and president Hoover are said to be among those people who received them.

Related Topics:
Baptist - March 3 - 1910 - Philanthropy - University of Chicago - 1890 - Rockefeller University - New York City - 1901 - 1902 - Rockefeller Foundation - 1913 - 1918 - Great Smoky Mountains National Park

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Rockefeller also made huge gifts to members of his family in the last decades of his life, especially to his son John D. Rockefeller, Jr., and his descendents remained among the richest and most influential families in the United States throughout the 20th century. He retained only a small fraction of the wealth he had made when he died in 1937.

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Rockefeller's grandson, Nelson Rockefeller, was Vice President of the United States under Gerald Ford and another grandson Winthrop Rockefeller served asGovernor of Arkansas. His great-grandson Jay Rockefeller (John D. Rockefeller IV), a former governor of West Virginia, is currently a member of the U.S. Senate.

Related Topics:
Nelson Rockefeller - Gerald Ford - Winthrop Rockefeller - Governor of Arkansas - Jay Rockefeller - U.S. Senate

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John D. Rockerduck, a Walt Disney Company character who is popular in Europe, is named after him, because of all of his good deeds. An example is his habit of giving away shiny new dimes to others on the street.

Related Topics:
John D. Rockerduck - Walt Disney Company - Europe

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The Rockefeller family was one of the benefactors who funded the reconstruction effort in France after the First World War. As a consequence, Rockefeller (along with the Rothschilds) was considered in that country the canonical billionaire, and was used in comparisons as synonymous with extreme wealth (this usage somewhat receded now).

Related Topics:
First World War - Rothschild - Billionaire

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