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Rockefeller family

society Maturity 11-13 Next article →

The Rockefeller family is one of the most famous and wealthy families in American history. They built a huge fortune through the petroleum industry, which is the business of oil. This wealth was mostly made by two brothers named John D. Rockefeller and William A. Rockefeller Jr. They were the co-founders of a company called Standard Oil. This company was the predecessor to the modern companies ExxonMobil and Chevron Corporation. Because of their success, the family became very powerful in business and politics.

John D. Rockefeller, Jr. (1915)
John D. Rockefeller, Jr. (1915)

The family's roots go back to a German village called Rockenfeld. An ancestor named Johann Peter Rockefeller moved from the Rhineland to Philadelphia around 1723. He became a landowner in New Jersey. Later, William A. Rockefeller Sr. moved to New York. He had six children, including the famous oil tycoons. John D. Rockefeller was a very religious man and a Northern Baptist. He used his money to support many church groups.

Rockefeller University (48064098757)
Rockefeller University (48064098757)

Managing such a large amount of money is a big job. For a long time, the male members of the family controlled the fortune. They used a family office to make decisions. Much of the money is kept in special trusts from 1934 and 1952. These trusts are managed by Chase Bank. Today, professional money managers at Rockefeller Financial Services also help oversee the wealth. They handle many different things like investments and insurance.

Rockefeller Center, December 1933
Rockefeller Center, December 1933

The family also used their money to build many famous places. They paid for the construction of Rockefeller Center in Midtown Manhattan. This is a large group of buildings in New York City. They also helped restore Colonial Williamsburg in Virginia. This project helped fix up an old historical town. They have been involved in many other building projects too. These include the World Trade Center and the Empire State Plaza in Albany.

MJK50115 Capitol (Williamsburg, Virginia)
MJK50115 Capitol (Williamsburg, Virginia)

Many people know the name Rockefeller because of the schools they helped. The family has given money to seventy-five major colleges and universities. This includes famous schools like Harvard, Yale, and Princeton. They also helped start Rockefeller University in 1901. Their support helped many scientists and mathematicians around the world. They even helped fund research in places like France and Germany. This shows how their money helped shape learning across the globe.

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File:Rockefeller_Center,_December_1933.jpg
Rockefeller_Center,_December_1933.jpg
File:John_D._Rockefeller,_Jr._(1915).jpg
John_D._Rockefeller,_Jr._(1915).jpg
File:MJK50115_Capitol_(Williamsburg,_Virginia).jpg
MJK50115_Capitol_(Williamsburg,_Virginia).jpg
File:Rockefeller_University_(48064098757).jpg
Rockefeller_University_(48064098757).jpg
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