When David Rockefeller passed away on March 20, 2017, at the age of 101, he left behind not only a legacy of wealth and power but a long, complex role in shaping global finance, politics, and philanthropy. With a net worth of $2.9 billion at the time of his death, David was the oldest living Rockefeller and the last grandson of John D. Rockefeller, founder of Standard Oil and one of the wealthiest individuals in modern history.
A Family of Unmatched Wealth and Influence
Born on June 12, 1915, in New York City, David was the youngest of six children of John D. Rockefeller Jr. and Abby Aldrich Rockefeller. His grandfather, John D. Rockefeller Sr., amassed an adjusted net worth of around $340 billion at the time of his death in 1937, making him arguably the richest American of all time. David’s father, meanwhile, was responsible for creating Rockefeller Center, a key landmark in Manhattan and a symbol of the family’s reach.
David’s siblings included Abby, John III, Nelson, Laurance, and Winthrop—each prominent in philanthropy, politics, or business. David, as the last surviving sibling, eventually became the family patriarch.
Education and Early Years
David’s early education took place at the experimental Lincoln School in Harlem. He later attended Harvard University, graduating cum laude in 1936. Eager to deepen his understanding of global economies, he studied at the London School of Economics before earning a Ph.D. in economics from the University of Chicago in 1940. These academic foundations prepared him for a lifelong role in international banking and diplomacy.
Government and Military Service
Just before the U.S. entered World War II, Rockefeller took on civic roles, including an internship for New York Mayor Fiorello La Guardia and a position with the Office of Defense, Health and Welfare Services. In 1943, he joined the U.S. Army, where he worked in military intelligence in North Africa and France and eventually served as assistant military attaché at the U.S. Embassy in Paris. He left the service in 1945 as a Captain.
A Transformational Career at Chase Manhattan
Post-war, Rockefeller began his career in finance at Chase National Bank, which had ties to his family. Starting as an assistant manager in the foreign department, he handled trade deals in commodities like coffee and sugar. When Chase National merged with the Manhattan Company in 1955, it became Chase Manhattan Bank, pivoting into consumer banking.
David rose through the ranks quickly—named president in 1960, CEO in 1969, and chairman shortly thereafter. He held those roles until his retirement in 1981. Under his leadership, Chase expanded globally, setting up operations in more than 70 countries, often gaining access through Rockefeller’s personal connections with world leaders.
However, not all was smooth. In the mid-1970s, Chase was labeled a “problem bank” by the Federal Reserve due to troubled foreign loans. The bank’s earnings took a hit but rebounded sharply by the end of the decade, eventually doubling. Even during turbulent periods, Rockefeller remained a highly influential figure in international finance.
Political and CIA Ties
David Rockefeller’s reach went far beyond banking. He was known for meeting world leaders—Fidel Castro, Mikhail Gorbachev, Saddam Hussein, and many others—often on unofficial diplomatic missions. He maintained strong ties with the CIA, including with Allen Dulles and Richard Helms, and was regularly briefed on covert intelligence operations. These relationships allowed Chase Manhattan to extend its influence globally, but they also sparked controversy about Rockefeller’s closeness with authoritarian regimes.
He maintained frequent access to U.S. presidents from Eisenhower to Carter and was particularly close to Henry Kissinger, whom he appointed to the Rockefeller Brothers Fund board. Rockefeller’s activities helped shape foreign policy, even though he never held elected office.
Philanthropy and Global Initiatives
David Rockefeller was a major force in philanthropy, co-founding the International Executive Service Corps in 1964 to promote private enterprise in developing nations. In 1973, he helped launch the Trilateral Commission, which fostered cooperation between North America, Europe, and Japan. He also created the New York City Partnership in 1979 to support local business and development.
In his later years, he made major donations, including $100 million each to the Museum of Modern Art and Rockefeller University in 2005. He also pledged $225 million to the Rockefeller Brothers Fund in his will—targeting health care, sustainable development, and international trade.
Properties and Lifestyle
David Rockefeller had several residences, including his main home on the family estate in Pocantico Hills, New York, a private compound developed by his father. He also had apartments in Manhattan, a residence in Livingston, New York, and a summer home on Mount Desert Island in Maine. Internationally, he owned an estate on Saint Barthélemy, and he had stakes in other ventures like a cattle ranch in Argentina and a sheep station in Australia.
Personal Life and Family
David married Margaret “Peggy” McGrath in 1940. Peggy was an environmentalist and conservationist who shared David’s interest in global issues. The couple had six children: David Jr., Abby, Neva, Peggy, Richard, and Eileen, all of whom have pursued paths in business, conservation, and philanthropy.
Peggy passed away in 1996, but David continued to lead family efforts and serve on various nonprofit boards until his death in 2017.
Final Thoughts
David Rockefeller lived through—and shaped—some of the most important events of the 20th century. From wartime intelligence to Cold War diplomacy and global banking to philanthropy, he left an impact far beyond his $2.9 billion net worth. More than just a banker, he was a bridge between old-world wealth and modern globalism, combining privilege with a relentless drive to stay relevant and involved.
