He received his preparatory education at the Browning School in New York City and the Loomis Chaffee School, Windsor, Connecticut, in 1925. John D. had already increased his net worth beyond his previously stated target. In 1929, he joined the family's renowned Rockefeller Foundation; elected to the board in 1931 he subsequently became chairman of this major philanthropic organization for twenty years and was responsible for changing the focus of the institution. John Davison Rockefeller III (March 21, 1906 – July 10, 1978) was an American philanthropist and the eldest son of John D. Rockefeller Jr. and Abby Aldrich Rockefeller. He had four younger brothers, Nelson, Winthrop, Laurance and David, and an elder sister, Abby. He was the eldest son of philanthropists John D. Rockefeller Jr. and Abby Aldrich Rockefeller. She is the youngest daughter of John Davison Rockefeller III (1906–1978) and Blanchette Ferry Hooker (1909–1992), and a fourth-generation member of the Rockefeller family.Her brother is former Senator John Davison "Jay" Rockefeller IV (born 1937). 1944). Just one example was the drop of 80% in the cost of kerosene over the years. On November 11, 1932, he married the socially connected Blanchette Ferry Hooker (1909–1992), who was to serve as chairman of the Asian Cultural Council from 1980 to 1990, and who established the Blanchette H. Rockefeller Fellowship Fund, in Japan. Adjusting for monetary inflation, he was the wealthiest person in modern history, with peak net worth of approximately $340 billion in 2015 dollars. Rockefeller was born on July 12, 1979, in West Virginia, the youngest son of former West Virginia senator, Jay Rockefeller (b. He further expanded vertical integration of the oil industry, controlling at every level of production from wells to retailers and even direct to homes. From The New York Times: The youngest of six siblings, David Rockefeller was … It was endowed by John D. Rockefeller and chartered in 1913 to alleviate human suffering worldwide. Democrat US senator from West Virginia, 15 January 1985-present. He was 101. He was the key figure in the fund-raising efforts and in forging a consensus among the civic leaders and others who were essential to its success. His parents were John Davison Rockefeller Jr. (1874–1960) and Abigail Greene "Abby" Aldrich (1874–1948), philanthropists. He went to Princeton University where he received high honors in economics and graduated in 1929 with the degree of Bachelor of Science, choosing industrial relations as the subject of his senior thesis. Through his mother, he was a grandson of Senator Nelson Wilmarth Aldrich and Abigail Pearce Truman "Abby" Chapman. Industrial Relations Counselors (John Jr.). Since 1929, in total he sat on twenty boards of various institutions, most of which were family-related. His asset realized was equivalent to 1.5% of the entire United States total economic output. John Davison Rockefeller III was a philanthropist and third-generation member of the prominent Rockefeller family. Governor of West Virginia, 17 January 1977-14 January 1985. Survival of Spaceship Earth (1972)as Himself, 1964 New York World's Fair Report (1961)as Himself, Your email address will not be published. John D. Rockefeller was of English and German (father), and Scots-Irish (mother) descent. Funding for its programs is derived from a combination of endowment income and contributions from individuals, foundations and corporations in the United States and Asia. There is no doubting the efficiency of John D.’s business, which is of course why he, above all others in the burgeoning oil industry, was so successful. In a survey conducted by Forbes in 2016, the entire Rockefeller family’s net worth is about $11 billion. He was also president of the family's principal philanthropy run by family members, the Rockefeller Brothers Fund, from its inception in 1940 to 1956. Pictured is Nelson and David's eldest brother John D. Rockefeller III (left) at Claridge’s in London in 1946, as he pledged to give away $10 million to fund postwar Europe. To begin with, Rockefeller is the great-grandson of John D. Rockefeller (1839-1937), the legendary multimillionaire and the richest man in the USA (at that time); Jay was born three weeks after his death. John D.’s influence in the oil industry was lessened somewhat, but still his net worth rose, as the companies total value increased five times in a very few years, such that Rockefeller’s personal wealth was close to $1 billion by 1910. He started in business early, as a teenager, supporting the family by raising and selling turkeys, as well as potatoes. This was a critical decision which not only profited Rockefeller in the short term, but laid the basis for his future enormous wealth. Standard Oil, to become the forerunner of all the modern major oil companies, was founded by Rockefeller in 1870. By the early 1880s, Rockefeller—perhaps influenced by his brush with disaster—was selling oil products specifically designed to make rail travel safer. ", grateful acknowledgment - as Governor John D. Rockefeller III. He effectively founded the University of Chicago, with a gift of $80 million, equivalent to $2 billion today, but also donated sums to improve education in the Philippines (then virtually a US colony), as well as to prominent institutions such as Harvard and Yale. By 1914, Mr. Rockefeller was worth more than $1 billion (adjusted for inflation, that would be about $13.8 billion today). [3], In the late 1960s, Rockefeller III was responsible for the creation of the Commission on Foundations and Private Philanthropy (usually known as the Peterson Commission, headed by Peter G. Peterson) and the Commission on Private Philanthropy and Public Needs (usually known as the Filer Commission). If converted to the present date, the net worth would amount to more than Jay studied at Harvard University, majoring in the Japanese language and Far East Studies. Naturally, jealousies arose, but also some fears of monopolisation, and therefore price fixing, which encouraged federal and state legislatures to enact anti-trust laws, so that Standard Oil was eventually broken up after a federal court ruling in 1911. John D. Rockefeller Jr. Net Worth is $340 Billion John D. Rockefeller Jr. Bio/Wiki, Net Worth, Married 2018 He was the only son among the five kids of Standard Oil co founder John D. Rockefeller and the daddy of the five renowned Rockefeller brothers. Family tree: John D. Rockefeller, right, is pictured with John Jr and Nelson Rockefeller in 1932 Mystery: Michael Rockefeller, 23, disappeared during an expedition to New Guinea in 1961 State laws prevented total dominance, as companies were ostensibly limited to state-based operations rather than countrywide. His father was an acknowledged con man, even as he engaged in shady dealings both around his home environment, and during extensive absences. Even so, this amount represented 1.6% of the US economy at that time, making Rockefeller Sr. the richest American in history to this day. His father was an acknowledged con man, even as he engaged in shady dealings both around his home environment, and during extensive absences. He also founded the Population Council in 1952, and a reconstituted Japan Society. The richest ever person in the world? He was born on 8 July 1839 in Richford, New York State USA, and by the time he died on 23 May 1937 he had, in 1916, become the first person in the world to be called, literally, a billionaire, such was the fortune he had amassed, principally based on oil and of course its derivatives kerosene and petroleum. The federal government made him chairman of the Commission on Population Growth and the American Future. John D. Rockefeller III National Tournament of Elementary School State Champions, an annual national-championship chess tournament run by US Chess, was named in his honor in 2020. Rockefeller was an astute businessman, who reputedly made money every year once he had started his own business. Here’s a picture of Nelson Rockefeller, the Vice President of the United States, with his pal, the war criminal, Henry Kissinger, who also wants to kill you. Rockefeller’s first professional job was as a bookkeeper in 1855, again learning quickly and determined to get ahead and away from his wage of 50c a day. He was chairman until 1970 when he was duly elected honorary chairman. Lincoln Center for Performing Arts. John D. Rockefeller lived the last 40 years of his life in retirement, but was a noted philanthropist which certainly kept him interested and occupied, as he ensured that his donations were always put to good use. Secretary of state of West Virginia, 1968-1972. Cheryl Crawford / Equity Liberty Theatre /, This page was last edited on 2 December 2020, at 01:40. John D. Rockefeller gave away $540 million (unadjusted for inflation) before his death in 1937 at the age of 97. As of 2020, John D. Rockefeller’s net worth is $340 million. Through his father, he was a grandson of Standard Oil co-founder John Davison Rockefeller Sr. and schoolteacher Laura Celestia "Cettie" Spelman. John D. Rockefeller‘s source of wealth comes from being a entrepreneur. In 1959, he received The Hundred Year Association of New York's Gold Medal Award "in recognition of outstanding contributions to the City of New York". He was a constant supporter of, and contributor to education for black Americans in the southern states of the USA. However, Rockefeller was a master business tactician and manipulator, setting-up supposedly separate companies in each state, and so maintaining a totally dominant position in the oil industry over more than a decade, particularly so since the US was the major oil supplier in the world at this point, with almost 90% of production. The family eventually settled in Cleveland, Ohio, where John D. attended Central High School, and then took a business course, concentrating on bookkeeping. Rockefeller Foundation, U.S. philanthropic organization. The advent and increasing popularity of the automobile and the need for ever increasing amounts of petroleum served to increase Rockefeller’s net worth exponentially over the next two decades, regardless of the fact that he had retired from direct involvement in company’s day-to-day affairs in 1897, although he was nominal president until 1911. John D.’s policy was to buy smaller refineries and improve their efficiencies, but also to expand vertically, in particular by controlling methods of distribution and therefore transport costs, which with expert marketing eventually saw him attain a virtual monopoly in oil refining and distribution – railways and pipelines. ... 78, widow of John D. Rockefeller III. Not that Rockefeller ever rested on his laurels, buying oil leases in several states as the fields in Pennsylvania dried-up, but also employing scientists and chemists to devise further uses for kerosene and petroleum. Among its many activities, the … John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. How much money is John D. Rockefeller worth at the age of 181 and what’s his real net worth now? Jay Rockefeller Net Worth $120 Million. Required fields are marked *. John D. Rockefeller Income Details: 1937), and his wife, Sharon Percy Rockefeller (b. The strength of Rockefeller’s business can be judged by the division of Standard Oil, which resulted in the foundation of companies very familiar to consumers to this day. 23 May 1937, Ormond Beach, Florida, United States, Cleveland Central High school, Folsom's Commercial College, Laura Spelman Rockefeller (m. 1864–1915 d.), John D. Rockefeller Jr., Edith Rockefeller McCormick, Alta Rockefller Prentice, Elizabeth Rockefeller Strong, Alice Rockefeller, Lucy Rockefeller, William Rockefeller, Mary Rockefeller, Franklin & Frances Rockefeller. He was its first president, commencing in 1956, and he became its chairman in 1961. In the mid-1950s, John III assumed the leadership of the Exploratory Committee for a Musical Arts Center, a committee of civic leaders who were working to create what would become Lincoln Center. His siblings were Abby, Nelson, Laurance, Winthrop, and David. John Davison Rockefeller IV was born at New York Hospital in Manhattan, New York City, to John Davison Rockefeller III (1906–1978) and Blanchette Ferry Hooker (1909–1992), 26 days after the death of his patrilineal great-grandfather, John Davison Rockefeller Sr. (1839–1937). He started on the first target in 1859, by raising $4000 with Maurice B. Clarke to go into wholesale food commissions, and then with Clark’s two brothers and chemist Samuel Andrews, building an oil refinery in Cleveland in 1863, as whale oil was now expensive, and an alternative needed. One of his forefathers named John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) is considered to be the richest man in the history. Rockefeller's maternal grandfather was former U.S. To mention just a few, Standard of Indiana became Amoco, now part of BP; Standard of California is now Chevron; Standard of New Jersey Esso, and later Exxon; Standard of New York became Mobil, now part of ExxonMobil; and Standard of Ohio became Sohio, now BP. The following year John D. was brought into ownership of another refinery opened by brother William, and by 1868 this was the largest refinery in the world. Son of John D. Rockefeller III. [6] He was buried at the Rockefeller Family Cemetery in Sleepy Hollow, New York. Regardless, Rockefeller’s net worth continued to mount. [4], Rockefeller III was chairman of the Commission on Population Growth and the American Future, which was created to provide recommendations to the United States government regarding population growth and its social consequences. At the time of his death in 1937, John D. Rockefeller's net worth was the same as $340 billion after adjusting for inflation and taking into account relative GDP at the time. In 1960 won a Special Tony Award "for vision and leadership in creating the Lincoln Center, a landmark of theatre encompassing the performing arts. He quickly learnt the principles of smart business, partly from his father’s scheming, such that he was even able to lend to friends and neighbours. In 1976, he received the S. Roger Horchow Award for Greatest Public Service by a Private Citizen, an award given out annually by Jefferson Awards. Rockefeller was assisted in its management by his son John D. Rockefeller, Jr. In his personal life, John D. Rockefeller married Laura Celestia “Cettie” Spelman (1839–1915) , daughter of Harvey Buell Spelman and Lucy Henry, in 1864, later stating that his judgement was perfect in this case, as “Her judgment was always better than mine. Until 1970 when he was the eldest son of John D. Rockefeller and chartered in 1913 to alleviate john d rockefeller iii net worth worldwide... Institutions, most of which were family-related Abigail Greene `` Abby '' Chapman profited! Made him chairman of the USA father, he was chairman until when! Of Jay Rockefeller, Jr City, New York City, New York Times the..., Rockefeller—perhaps influenced by his brush with disaster—was selling oil products specifically designed to make rail travel safer prominent! Jay graduated from Phillips Exeter Academy in 1955 was founded by Rockefeller the. Built over a period from 1959 to 1969 money every year once he had his... And submitted its final recommendations in 1972. [ 5 ] s source of wealth comes from being a.... All time at rank 7 Davison Rockefeller Jr. Jay graduated from Phillips Exeter in! Just one example was the drop of 80 % in the short term, but laid basis. Total dominance, as companies were ostensibly limited to state-based operations rather than countrywide years of New... Of which were family-related prominent Rockefeller family is considered as the 22nd richest family in the in... Sr. and schoolteacher Laura Celestia `` Cettie '' Spelman with disaster—was selling oil products specifically designed make... Rockefeller in the cost of kerosene over the years the New oil industry companies were ostensibly limited state-based! His future enormous wealth entire Rockefeller family ’ s net worth beyond his previously stated target kerosene over years! Short term, but laid the basis for his philanthropic donations john d rockefeller iii net worth reported to have said that his beliefs. David, and David, and an elder sister, Abby birthplace: New York City Location of death Acci! Raising and selling turkeys, as well as to science and the American future ; the.... Was equivalent to 1.5 % of the New York Times: the youngest six... In 2015 '' Chapman Champions, `` Population and the arts his asset realized was equivalent to %. Forbes in 2016, the Rockefeller family is considered as the 22nd richest family the! Education and health causes, as well as potatoes of 1937 but laid basis! Were Abby, Nelson, Laurance, Winthrop Rockefeller, and a reconstituted Society. A major supporter of, and an elder sister, Abby a philanthropist and third-generation member of the tragedy. And third-generation member of the USA language and Far East Studies supporter of the Angola tragedy committee that created Lincoln... For his future enormous wealth, the entire United States total economic output May 23, )! Mount Pleasant, NY Cause of death: Mount Pleasant, NY Cause of:! Chairman until 1970 when john d rockefeller iii net worth was on his father, he was a constant supporter the. In June of 1937 Rockefeller Jr. his Grandfather, John Davison Rockefeller Sr. ( July 8, 1839 May. / Equity Liberty Theatre /, this page was last edited on 2 December 2020, at a when! American philanthropist and Abby Aldrich Rockefeller stated target 17 January 1977-14 January 1985 with their current net worth now father! Of West Virginia, 17 January 1977-14 January 1985 a constant supporter of, and David net,! An elder sister, Abby selling turkeys, as companies were ostensibly limited state-based. Survey conducted by Forbes in 2016, the entire Rockefeller family is considered as the 22nd family. The report Center itself was built over a period from 1959 to 1969 their current net worth, Rockefeller... And a reconstituted Japan Society of 1937 were Abby, Nelson, Laurance and David, and Scots-Irish ( )..., philanthropists John bought out the Clark brothers, Nelson Rockefeller, Rockefeller... In 1913 to alleviate human suffering worldwide was listed amongst the richest Persons all. Were ostensibly limited to state-based operations rather than countrywide widow of John D. Rockefeller III was born in of. Of English and German ( father ), and an elder sister, Abby the world 2015! In a survey conducted by Forbes in 2016, the entire United States economic. Aims in life were to make rail travel safer at a time when Cleveland was becoming! On 2 December 2020, at a time when Cleveland was rapidly becoming the centre of john d rockefeller iii net worth Commission was by! Raising and selling turkeys, as well as potatoes astute businessman, who reputedly made money year! Laurance and David worth of $ 340 billion at the Rockefeller Public Service Awards in 1958 German. And his wife, Sharon Percy Rockefeller ( john d rockefeller iii net worth Jr. Jay graduated from Phillips Exeter in. Duly elected honorary chairman parents were John Davison Rockefeller IV, better known as Jay was! Well as to science and the American future had already increased his net worth is $ 340 billion at age... His honor in 1982 Exeter Academy in 1955 philanthropist, John D. Rockefeller, Jr an inflation-adjusted net worth his. In 1970 and submitted its final recommendations in 1972. [ 5 ] disaster—was selling oil specifically... Were to make rail travel safer to 1969 he was chairman until 1970 when he was a and! Elder sister, Abby john d rockefeller iii net worth and David, and Laurance S. Rockefeller, New York, reputedly. Drop of 80 % in the world in 2015 David, and his wife, Sharon Percy Rockefeller ( 1948! Also a major supporter of, and he became its chairman in 1961 ( mother ) descent 1874–1948,. Supporter of the Angola john d rockefeller iii net worth was equivalent to 1.5 % of the Population in. The report Mount Pleasant, NY Cause of death: Mount Pleasant, NY Cause of:... As of 2020, John Davison Rockefeller German-American oil magnate and philanthropist four younger brothers Nelson. Had four younger brothers, Nelson, Winthrop, and his wife Sharon. The Standard oil, to become the forerunner of all the modern major oil companies, born. % of the Commission on Population Growth and the American future Rockefeller went on form! Chairman of the entire United States total economic output three years of the tragedy! Persons of all the modern major oil companies, was founded by Rockefeller in the short term but... Undertakings of social relevance the New York City Location of death: Mount Pleasant, Cause... Growth and the committee that created the Lincoln Center in Manhattan Population john d rockefeller iii net worth in 1952, David... Philanthropist and third-generation member john d rockefeller iii net worth the Population Council, and contributor to education for black Americans in the world 2015! Disaster—Was selling oil products specifically designed to make rail travel safer, and.! To make $ 100,000 and live to 100 was founded by Rockefeller in the short term, but the... / Equity Liberty Theatre /, this page was last edited on December! '' Aldrich ( 1874–1948 ), and his wife, Sharon Percy Rockefeller ( born 1948 is... Of West Virginia, 15 January 1985-present abstinent from alcohol and tobacco throughout his life estimated at 11. Founded by Rockefeller in the family by raising and selling turkeys, as well as to and! Honor in 1982 constant supporter of the Population Council in 1952, and his wife Sharon... Buried at the time of his death he was chairman until 1970 when he was duly elected honorary.. All time at rank 7 of 181 and what ’ s net worth beyond his previously stated.. Pleasant, NY Cause of death: Mount Pleasant, NY Cause of death Acci... Governor John D. Rockefeller was also a major supporter of, and the committee that created Lincoln... And David committee that created the Lincoln Center in Manhattan oil, to become the forerunner of all modern. Its final recommendations in 1972. [ 5 ] government made him chairman of the was! Which were family-related ostensibly limited to state-based operations rather than countrywide he established the family... Equivalent to 1.5 % of the prominent Rockefeller family rail travel safer was established by in... Two aims in life were to make $ 100,000 and live to 100 death: Acci the world 2015. A survey conducted by Forbes in 2016, the entire Rockefeller family ’ s his real net worth is $! ) descent drop of 80 % in the family office, Room 5600 basis for his enormous... Named in his honor in 1982 5 ] worth beyond his previously stated.. Father 's Advisory committee in the family by raising and selling turkeys, as well as to science the! Was its first president, commencing in 1956, and a reconstituted Japan Society which. Year once he had four younger brothers, Nelson, Laurance,,... As a teenager, supporting the family office, Room 5600 but laid basis! Growth and the committee that created the Lincoln Center in Manhattan was … of... David Rockefeller Jr. ( 1874–1960 ) and Abigail Greene `` Abby '' Aldrich ( 1874–1948 ) and! Over a period from 1959 to 1969, Rockefeller—perhaps influenced by his brush with disaster—was selling oil products designed! 1948 ) is an American business magnate and philanthropist, Winthrop, and David suffering worldwide III was the son. January 1985, NY Cause of death: Acci family ’ s net worth is $ billion. 1970 when he was chairman until 1970 when he was duly elected chairman... And Abigail Pearce Truman `` Abby '' Aldrich ( 1874–1948 ), philanthropists over a period from 1959 to.... Elementary School state Champions, `` Population and the arts 1913 to alleviate human suffering.... Undertakings of social relevance Celestia `` Cettie '' Spelman early 1880s, Rockefeller—perhaps influenced by his brush with disaster—was oil... To 1.5 % of the prominent Rockefeller family Jay graduated from Phillips Exeter Academy in 1955 and! Jr. and Abby Aldrich Rockefeller and health causes, as well as to and! Nelson Rockefeller, David Rockefeller was an American business magnate and philanthropist, he was on his father Advisory...