The surname Rockefeller has long been synonymous with wealth. And this is not surprising, since it was to this dynasty that the first dollar billionaire in the history of mankind belonged. People have always liked to count other people's money, so it is not surprising that many are interested in the question, what is the state of the Rockefellers at the moment.
Only a select few know the exact answer, but this article can help shed light on the origins of the wealth of this famous family.
How it all started
John Rockefeller, whose state at the time he entered adulthood was hardly a couple of hundred dollars, was born in 1838 in the city of Richford, located near New York, and was the second of 6 children of William Avery Rockefeller and Louise Selyanto.
His father worked as a lumberjack in his youth, but over time he began to avoid hard physical labor in every way and became a "botanical doctor." For months he was traveling, selling all kinds of herbal potions, not paying attention to the discontent of his wife, who, in the absence of her husband, barely managed with a large crowd of children and did not know how to make ends meet.
Nevertheless, over time, William managed to earn some money and buy a plot of land. He invested his remaining savings in various enterprises. At the same time, he was very impressed by the interest shown by his son John to his financial affairs. Despite his very young age, a smart little boy wanted to know all the details of his father's transactions and constantly pestering him with questions. As an adult, Rockefeller warmly recalled William, who, according to him, taught him to "buy and sell … and dragged him … to enrichment."
How to raise a billionaire
John Rockefeller, whose fortune in 1905 amounted to $ 1 billion, at 7 years old, he dug potatoes from neighbors and fed turkeys for sale. Having barely learned to write and count, he started a notebook in which he recorded all his expenses and financial income. He carefully kept the money in a porcelain piggy bank and did not like to spend it on trifles. At 13, he already had a small amount, which allowed the young businessman to lend $ 50 to a farmer neighbor on condition that he pay 7.5 percent per annum.
With great reluctance, John went to school, where he did not like at all, since study was difficult. However, Rockefeller successfully graduated from it and became a college student in Cleveland, choosing the specialization "Fundamentals of Commerce." Soon, the young man realized that it was not necessary to spend money and 4 years of life on obtaining the same knowledge that any 3-month accounting courses would provide him.
Career
John Davison Rockefeller (the state at the time of his death amounted to $ 1.4 billion) at the age of 16 began to look for a permanent job. A certificate of completion of accounting courses and a good knowledge of mathematics allowed him to become an employee of the company Hewitt & Tuttle, which was engaged in real estate and shipping. The young man quickly established himself as a competent professional and eventually made a career spurt from an assistant accountant to a manager. However, Rockefeller soon found out that his predecessor was paid $ 2, 000, while he was paid only $ 600. He immediately left Hewitt & Tuttle and never again became an employee.
Establishment of own business
Rockefeller David, whose fortune at that time was only $ 800, was briefly out of work. He managed to find out that one of his friends was looking for a partner with a capital of 2 thousand dollars. The young man borrowed the missing amount from his father at 10% per annum and in 1857 became a junior partner at John Morris Clark and Rochester. With the outbreak of the Civil War, this small company selling grain, hay, meat, and other goods had excellent prospects, as the United States federal authorities needed large-scale food supplies to supply the army.
It was obvious that the starting capital for the development of the company is not enough. However, to miss the chance to get rich on military supplies would be crazy. Therefore, the company, one of whose owners was Rockefeller, needed a loan. It was received thanks to John, as a young businessman with his sincerity made the most positive impression on the director of the bank.
Successful marriage
Today, many ordinary people raised in glossy magazines are surprised when they see the wives of billionaires, whose appearance, to put it mildly, is far from model. However, they do not even think about what an important role a smart woman can play in her career, as well as in enhancing and maintaining the capital of her husband. The above fully applies to Rockefeller's wife. Before marriage to a young promising businessman, Laura Celestine Spelman, who can hardly be called a beauty, was a school teacher and was distinguished by exceptional piety. They met back in the days of Rockefeller's short student body, but they got married only after 9 years. The girl attracted John's attention with her piety, practicality of mind, and what his mother reminded him of. According to Rockefeller himself, without the advice of Laura, he would have "remained poor."
Money in oil
It is hard to believe, but until the mid-19th century, black gold had very low demand. However, it was precisely it that became the commodity on the sale of which a huge Rockefeller fortune was made.
The founder of the dynasty had an unrivaled business sense, and when kerosene lamps were invented, he quickly guessed what prospects would be for someone who would take over the oil production and refining business. Rockefeller became interested in reports of a black gold deposit that Edwin Drake discovered in 1859 and met chemist Samuel Andrews. The latter agreed to take on the scientific and technical side of the project and become a partner in the new business. Soon, Andrews and Clark was set up to build the Flats refinery in Cleveland. She later grew into Standard Oil.
Secret of success
As already mentioned, at one time the state of the Rockefeller family began to grow sharply thanks to the oil-based business. However, before this happened, John had to take a number of measures. In particular, he noted that everyone who tried to work in this area before him acted chaotically and ineffectively.
First of all, Rockefeller created the charter of the company, and to motivate employees, he refused wages by issuing shares of the company. Thus, each employee was interested in the success of the business, which soon had a positive effect on his income.
Then he began to buy up small firms one at a time, trying to concentrate in his hands the entire oil production business. In addition, Rockefeller agreed with railway workers on lower prices for the transportation of Standard Oil products. In particular, the company paid 10 cents for the transportation of one barrel of oil, and its competitors - 35 cents, i.e. more than 3 times more expensive. Soon they were faced with a choice: either a merger with Standard Oil, or ruin. Most business owners, without thinking twice, preferred to accept Rockefeller's offer in exchange for a share of the shares.
Oil Tycoon N 1
By 1880, 95% of the United States' oil production was already concentrated in Rockefeller hands. Having become a monopolist, Standard Oil immediately sharply raised prices. Soon she was recognized as the richest in the world at that time. It was then that the fortune of the Rockefeller family became a byword, and their name was a symbol of wealth.
The end of the monopoly
The Americans, who were always interested in the current state of the Rockefellers, soon realized that they were trapped in Mr. John Davison, and now the price of fuel will depend only on goodwill. In this regard, the Sherman Antitrust Act was adopted.
Rockefeller had to split Standard Oil into 34 small companies. At the same time, in all of them, the businessman retained a controlling stake and even increased his capital. As a result of the section, such well-known companies as ExxonMobil and Chevron arose. Their assets today are a significant part of what the Rockefellers own (the state today is more than three billion).
Rockefeller Clan Status at the End of the 19th Century
In addition to the oil business, which brought in $ 3 million annually, the businessman owned 16 railway and 6 steel companies, 9 real estate companies, 6 shipping companies, 9 banks and 3 orange groves.
Although the family lived in great comfort, they did not flaunt their wealth, as other 5th Avenue New York millionaires did. At the same time, the Rockefellers state was constantly the subject of gossip. They discussed their Villa Pocantico Hills, and a land plot of 283 hectares in Cleveland, and luxury homes in Florida and New York, as well as a golf course in New Jersey, etc.
Children
Rockefeller dreamed of surviving to 100 years, but did not live up to this period for three years, having died of a heart attack in May 1937.
He very strictly raised his children, trying to inspire them with respect for money and the desire to earn money. He appointed one of the daughters as a director, and she made sure that her brother and sisters were not lazy to fulfill their duties. At the same time, children received a specific reward for any housework, and fined for being late.
There was no talk of any indulgence in the Rockefeller family. In particular, as adults, they recalled how once the father wanted to give them a bicycle, but the mother advised them to buy one for everyone so that the children could learn to share with each other.
The only son of John Davison Rockefeller, who was the full namesake of his father, fully met his expectations. He did not seek to make a brilliant career, but devoted his life to his family and to being useful to society. As for the daughters, one of them died at a young age, the other went crazy, and only Alta and Etid lived a long life, enriching their clan with new connections.
John Davison Rockefeller Jr
After the death of his father, who allocated him $ 460 million by will, he spent a significant part of his fortune on charity. In particular, it was at the initiative of John that New York became the headquarters of the UN. The construction of a complex of buildings for this organization cost Rockefeller Jr. in the amount of $ 9 million. John had six children. They received from their father a fortune equal to 240 million dollars.
Margaret Rockefeller Strong
Not many people know that John Davidson Jr. was not at all the person who inherited most of his father's money. The state of the Rockefellers, which in 1937 was estimated at 1.4 billion dollars, more precisely more than half of it, went to the granddaughter of the founder of the Margaret dynasty. The young woman was the daughter of Bessie Rockefeller and Charles A. Strong. Large amounts of inheritance also went to the children of Margaret and the medical research institute founded by her great grandfather.
Grandchildren in a direct male line
John Davison Rockefeller Jr. had six children. Abby's daughter, like her brother John, were major philanthropists. Thanks to them, many foundations and organizations were founded, including the Institute for Pacific Relations, etc. Nelson Rockefeller, who was US Vice President from 1974-1977, achieved particular success. Another Rockefeller grandson - Winthrop - was Governor of Arkansas.
David Rockefeller: status today and a brief biography
The oldest member of the clan was born in New York in 1915. He is the last of the children of John Davidson Rockefeller Jr. In 1936, he graduated from Harvard University, and then was sent to study at the London School of Economics and Political Science. In 1940, John defended his dissertation on the topic “Unused resources and economic losses” and received a doctorate in economics. In the same year, he began his career in public service, becoming the secretary of the New York Fiorello La Guardia. During World War II, David Rockefeller first worked in the Departments of Health, Defense and Social Security, and in May 1942 he went to the front as an ordinary. There he was sent to work in intelligence, and he carried out various government missions in France occupied by the Germans and in North Africa.
As a result, he met a victory in the rank of captain, and then participated in various business family projects. In 1947, David Rockefeller became director of the Council on Foreign Relations, and 14 years later - president of the Chase Manhattan Bank. In April 1981, on the eve of his 66th birthday, he resigned from this post, since he had reached the age limit.
At the moment, David Rockefeller (today's fortune is $ 2.5 billion) has reached a very advanced age and is already over 100 years old. Recently, reports appeared in the press that he had another heart transplant. Apparently, the billionaire seeks to live forever. Moreover, he is known as the main ideologist of birth control, as he believes that the Earth is overpopulated.
The name of David Rockefeller often sounds during the speeches of famous conspiracy theorists. In particular, they call him the founder of the Trilateral Commission, created in 1973 with the aim of coordinating the approaches of the United States, Canada, Japan and the richest countries of Western Europe to the most important political and economic issues facing humanity. The activities of this organization are hidden for the masses with such a dense veil of secrecy that, in comparison with the Tripartite Commission, the activities of the no less famous Bildelberg Group can be called absolutely transparent. Moreover, no one knows for sure the program of this organization.
At the moment, the right-wingers consider the Trilateral Commission to be a world government, and the left-wing is a club of rich people who do not want to obey anyone.
The Rothschilds
Often, when discussing the general condition of the Rockefellers, they also recall the representatives of one of the most successful financial clans in Europe. We are talking about the Rothschilds, whose family business was founded more than 250 years ago, and began with a small Jewish money-changer shop in the ghetto of Frankfurt.
There is no exact information about the state of this dynasty, which operates not only in the USA, but also in Europe, and it cannot be, because according to the will of its founder, this information cannot be announced.
At the moment, the head of the family is Nathaniel Rothschild. He has a sister, Emma, who is a world-famous scientist and economist. Few know that Nathan Rothschild is a member of the international advisory board of the Russian company RUSAL.
Two greatest historical financial dynasties: allies or opponents
Rockefellers and Rothschilds have, over the course of their history, worked more than once in the framework of a fairly close business partnership, participating in projects and acquiring stakes in each other's assets. At the moment, there was no particularly intense competition between the families, as their representatives prefer to agree on all issues.
To date, the Rockefellers (current state - 300 billion) and the Rothschilds have reached an agreement on strategic partnership. In addition, they announced the merger of some of their assets. In particular, RIT Capital Partners (the Rothschild investment company) acquired a stake in the Rockefeller group. The latter manages $ 34 billion worth of assets. These include the Vallares oil and gas group, as well as stakes in well-known companies such as Johnson & Johnson, Procter & Gamble, Dell and Oracle.
As for the assets of RIT Capital Partners, they are valued at £ 1.9 billion, most of which is invested in stocks and government bonds.
By the way, while people are arguing about the state of Rockefeller (150 or 300 billion), the clans, at least some publications say so, are preparing to destroy the euro, since they no longer see the need for such a currency. They are also credited with the sharp economic breakthrough in China, which was impossible to predict any 30-40 years ago.
According to experts, the rapprochement of the Rothschild and Rockefeller clans will continue in the future.
