David Rockefeller, banker and philanthropist, dies at 101


Billionaire philanthropist David Rockefeller, former head of Chase Manhattan Corp and patriarch of one of the most famous and influential American families, died on Monday, a family spokesman said.

A spokesman, Fraser P Seitel, said the sixth child of John D Rockefeller Jr and the grandson of Standard Oil co-founder John D Rockefeller died peacefully in his sleep on Monday morning at his home in Pocantico Hills, New York.

To mark his 100th birthday in 2015, Rockefeller donated more than 1,022 acres of land in Seal Harbor, Maine to the Mount Desert Island Land and Garden Preserve. He persistently lauded the benefits of capitalism.

The bank later became JPMorgan Chase, one of the world's largest financial institutions.

Nelson Rockefeller served as governor of NY and briefly as USA vice-president while Winthrop Rockefeller was the governor of Arkansas. "The problem is to see that the system is run as efficiently and as honestly as it can be".

He was named president of the company in 1961 and chairman and chief executive in 1969. He relinquished the chairmanship in 1981, when he retired.

The renowned capitalist supported the assistance of economies overseas, arguing that it would create customers for American products.

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

He was also remembered for his patronage to philanthropy and the arts, preserving his family's close relationship with the Museum of Modern Art.

Rockefeller earned a degree from Harvard University in 1936 and did graduate work at the London School of Economics, where he met future President John F. Kennedy and dated his sister Kathleen.

He had six children - David Jr, Richard, Abby, Neva, Margaret and Eileen - with his wife Margaret (nee McGrath).