Billionaire David Rockefeller Dies at Age 101

Billionaire banker David Rockefeller dies aged 101

David Rockefeller, the famed banker and philanthropist, died Monday at age 101, according to a spokesperson for the Rockefeller Brothers Fund.

The centenarian was at the helm of his family's fortune, controlling both philanthropic and business interests. He served as the chairman and chief executive of Chase Manhattar Bank in the 1970s and played a key role in expanding its operations internationally.

On his 100th birthday in 2015, he donated 1,000 acres of land next to a national park to the state of Maine.

His brother, Nelson Rockefeller, served as the Governor of NY and Vice President of the U.S. under Gerald Ford in the mid-1970s.

David Rockefeller has died aged 101. He persistently lauded the benefits of capitalism. "The problem is to see that the system is run as efficiently and as honestly as it can be". He graduated from Harvard in 1936 and received his PhD from the University of Chicago in 1940.

The bank later became JPMorgan Chase, one of the world's largest financial institutions. He was named chairman and CEO of the bank in 1969. He retired in 1981 at 65.

In his role of business statesman, Rockefeller preached capitalism at home and favored assisting economies overseas on grounds that bringing prosperity to the Third World would create customers for American products.

"Today the world has lost a great man and philanthropist, and we, a dear friend and inspiration". He didn't say how much he paid in taxes and never spoke publicly about his personal worth.

He also was viewed with anger on the right for pushing to open trade with China and the Soviet Union during the Cold War.

In his early travels to South Africa, Rockefeller arranged clandestine meetings with several underground black leaders.

The site of the nine-story mansion where he was born, then New York's largest residence, is now part of the Museum of Modern Art, which his mother, Abby, helped found in 1929.

Mr Rockefeller's private art collection was once valued at $500m (£404m).

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