Billionaire David Rockefeller passes away at the age of 101

David Rockefeller has died aged 101

David Rockerfeller dead: Billionaire philanthropist and head of Chase Manhatten dies aged 101

David Rockefeller, who has died aged 101, was a billionaire philanthropist in the tradition of his grandfather, John D Rockefeller, and one of America's best known bankers as the long-serving chairman of Chase Manhattan. "The problem is to see that the system is run as efficiently and as honestly as it can be". The bank later transformed into JPMorgan Chase & Co. He retired in 1981 at 65. To mark his 100th birthday in 2015, Rockefeller gave 1,000 acres of land to the state of Maine, The Associated Press reported. He also had a nephew, Jay Rockefeller, who served as USA senator from West Virginia.

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

His fortune, investments in real estate, share of family trusts and other holdings were estimated at $3.3 billion in March 2017 by Forbes magazine.

Under his leadership, Chase was the first U.S. bank to open offices in the Soviet Union and China.

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. His private art collection was once valued at $500m.

He was also behind the project that led to the World Trade Center in New York City.

Many members of his family were drawn more to politics than to business.

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 married Margaret McGrath in 1940 and she died in 1996.

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