The Rockefeller family is an American banking, political and industrial family. It is best known for generating a lot of wealth in the Oil business. The business started in the late 1850s. Also, for its control over Chase Manhattan Bank. Let’s find out more about how much is The Rockefeller Family’s net worth in 2020.
The Rockefeller family’s founders were William Rockefeller Sr. and John D. Rockefeller. In 1955, there existed a young man named John Davison. His father was travelling salesman which resulted in the family having to keep moving.
In one occasion, they left Upstate, New York for Cleveland, Ohio during the 1950s. By that time, John had little of professional schooling. But, the man learned to account and ventured into business. He was a significant commodities broker whose primary focus was grains.
He had his partner, and the business did very well. Having been a time of the Civil War, the company did very well thanks to that situation. The profits were enough to buy an oil refinery.
That’s when John involved other parties including William who was her brother, Andrew Flagler and Samuel Andrews.
William Rockefeller Sr., a founding member of the Rockefeller family, hailed from Granger, New York. He married Eliza Davison. The couple was blessed with six children.
The lift of its members is long.
After John had purchased an oil refinery, the legacy of the Rockefeller family began. The two brothers, John and David, co-founded Standard oil. The company refined almost ninety percent of the oil in America. This situation was next to monopoly.
He was 25 when John became not only the wealthiest of his time but also one of the most prosperous ever. In 1911, federal government broke up their oil company. This was done by Sherman Anti-Trust Act.
Good news is that they had already gained a foundation. They were not shaken by the incident. The company was broken down into various sections which turned out to be great too.
Other members have held political offices too. One of them is Nelson Rockefeller. Nelson was an Assistant Secretary of States for America Republic Affairs, Governor of New York, and Vice President of US. His tenure as a vice president was between 1974 and 1977.
Winthrop Rockefeller was the Governor of Arkansas. Winthrop Paul Rockefeller was the Lieutenant Governor of Arkansas.
Also, Jay Rockefeller who had been born in 1937 has served in several ways. He has been a member of West Virginia House of Delegates, Secretary of States of West Virginia, Governor of West Virginia and US Senator for West Virginia.
The family has various real estates too. They include Museum of Modern Art, Asian Society and One Chase Manhattan Plaza.
Achievements & Awards
They were honoured with Honor Award in 1991 from National Building Museum. This was to appreciate their great generosity that they had for years extended to humankind. The family has various foundations and have contributed to developments of universities in the United States.
Net Worth of the Rockefeller Family
The Rockefeller Family has an estimated net worth of over $10 billion. They had a monopoly oil refinery company by the name Standard oil.
After it broke up, the family still owns many oil companies. They are one of the best in the States.
Other members have earned money through their services in public offices. The family has been involved in the building of many prominent buildings too. They also own others.
The Rockefeller family is known to be one of the most influential families in the United States. Their legacy would take centuries to be forgotten, and if it’s protected and managed well, it will reign forever. John rose from a broker to an oil tycoon and co-founder of Standard Oil. Together with his brother David, they have set a foundation for their future generations. David died in 2017.