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RockefellersThe Rockefeller family is one of the wealthiest families in American history. They’re considered greatly influential in business, art, architecture, and philanthropy.
John D. Rockefeller, born in 1839 into relatively modest circumstances, became the world’s first billionaire in 1916 after creating the first major business trust. By some accounts, he is still the richest man to have ever lived.
The Rockefellers also created the Standard Oil Company, which came to define monopolistic business practices in the US. They've also financed American institutions such as New York City's Rockefeller Center, Colonial Williamsburg, and more.
Today, the Rockefeller family has a cumulative net worth of $10.3B. Their modern-day influence mostly involves charitable giving to causes like higher education, the environment, and national parks. Their moneyed reputation has outlasted John D. Rockefeller himself: Taylor Swift, for instance, recently referenced the Standard Oil fortune in a popular song.Explore Rockefellers
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The Rockefellers’ family office expanded to become a multifamily officeThe Rockefellers created the first known single-family office in the late 1800s but the firm has evolved since to serve many wealthy American families. SpotifyThe history of the Rockefellers in 60 secondsJohn D. Rockefeller—the world’s first billionaire—once controlled 90% of the US oil market, built Standard Oil through vertical integration, and used his fortune to fund universities, museums, and landmarks like Rockefeller Center. 1440Today’s Rockefellers have become climate activistsThe Rockefeller Family Fund has been engaged in more than 40 lawsuits against ExxonMobil, a company that John D. Rockefeller’s Standard Oil created. NPRThe Rockefellers funded the restoration of Colonial WilliamsburgJohn D. Rockefeller Jr. and his wife spent millions of dollars restoring Colonial Williamsburg and turning it into the tourist attraction it is today. You can go back in time via video footage from before and after the restoration. InstagramHow the Rockefellers' wealth evolved over timeThe Rockefellers built one of the most powerful business empires in US history. By the early 1900s, their company, Standard Oil, controlled over 90% of the US oil market. 1440The lives of the other Nobels, Russia's RockefellersSwedish dynamite-inventor Alfred Nobel is known for founding the prestigious prizes, but he was just one of several notable Nobels to shape global history. This podcast explores the fascinating history of the migrants to Russia, their enterprising leadership over multiple generations of the nascent oil industry there, and the end of their dominance amid the Bolshevik upheaval. Listen here. Founders PodcastThe Rockefeller Center Christmas tree was first erected in 1931 by construction workersThe tradition of erecting a tree in Rockefeller Center officially began two years later, when the company continued what the Depression-impacted workers had started. Today, its lighting and nearby ice skating draw millions annually, making it one of America’s most famous holiday traditions. Untapped Cities'If you want to succeed, you should strike out on new paths, rather than travel the worn paths of accepted success.'- Billionaire John D. Rockefeller (1839-1937) ForbesTour the UN building in NYC with architect Michael WyetznerThe modernist building was meant to stand out among the New York skyline. It’s three primary buildings are distinct and were supported by millions in donations from philanthropists families like the Rockefellers. Architectural DigestThe origins of modern family offices date back to the 1500sWealth management for families with massive fortunes has evolved over the centuries, with the Rockefellers establishing the first single-family office in 1882. National Law ReviewThe responsibilities of family offices range from managing assets to coordinating travelFamily offices provide a broad swath of services to ultra-high-net-worth individuals that help the family maintain their wealth for generations. InvestopediaLess than a third of wealth transfers to the second generationJust 12% of family wealth reaches the third generation, and 3% makes it to the fourth. Family offices work to prevent that kind of attrition and ensure family fortunes are passed to the next generation. SimpleJohn D. Rockefeller’s father was a well-known con artistJohn D. Rockefeller was born to a man known as “Devil Bill” who made a living posing as a traveling doctor and selling fake herbal cures, and was also infamous for his storytelling and cons. 1440Rockefeller heir Rebekah Harkness served as inspiration for Taylor SwiftIn 2020, Taylor Swift wrote a song that highlighted her similarities to Rebekah Harkness, the former owner of Swift's Rhode Island beach house. Harkness filled the Rhode Island home's pool with champagne, courtesy of her late husband, a Standard Oil heir. VogueDiego Rivera hid a tiny image of Vladimir Lenin in Rockefeller CenterNelson Rockefeller commissioned painter Diego Rivera to paint a mural for the entrance of the Rockefeller Center. Allegedly in response to criticism that he had “sold out,” Rivera slipped in a painting of Vladimir Lenin. The Museum of Modern ArtSee Rockefeller Center's Christmas trees since 1931In 1931, with construction still underway, Rockefeller Center's very first Christmas tree was erected out front. John D. Rockefeller himself greeted the construction workers who put up the first 20-foot tree and decorated it with cranberries and paper garland. PeopleStandard Oil’s predatory business practices included temporarily operating at a loss to drive competitors out of businessRockefeller's oil monopoly had a dark side, including cutting oil prices so low that Standard Oil was sometimes temporarily operating at a loss in order to drive competitors out of business. OilPrice.comHow famed investigative journalist Ida Tarbell took on Standard OilAfter watching her father lose his oil refining business to Standard Oil, Ida Tarbell began to focus on unfair business practices in the US, writing a series on the oil giant's transgressions. Smithsonian MagazineStandard Oil used vertical integration to create an empire “Vertical integration” is a modern business phrase that refers to a company taking on multiple stages of production—but John D. Rockefeller pioneered it with his Standard Oil company, employing its own plumbers and handling its own oil transportation. PBSJohn D. Rockefeller’s father had a nefarious pastWilliam A. Rockefeller Sr. earned his money via various schemes that included pretending to be a doctor to sell “herbal medicines” and posing as a deaf person to peddle for money. HistoryA timeline of the Rockefeller familyThe Rockefeller family timeline (as it relates to the business world, at least) starts in 1839 with John D. Rockefeller’s birth. In the nearly 200 years since, his offspring have gotten involved in everything from the Watergate scandal to the McCormick & Company spice business. PBSModern antitrust law was created to combat the Standard Oil TrustJohn D. Rockefeller's Standard Oil Trust allowed him to dodge laws against one corporation buying stock in another. His centralized board of directors held stock in many different oil companies under his control, allowing Rockefeller to eventually monopolize the oil refining industry. QuartzHow John D. Rockefeller became the world's first billionaireFrom a young age, John D. Rockefeller knew he was interested in business. He worked as a bookkeeper and sold candy prior to starting the business empire that would help cement the Rockefeller name in history: Standard Oil. Library of CongressIn 1931-32, JP Morgan Jr. paid no income taxes due to his company’s lossesThis legally reduced his taxable income under existing laws. Similarly, the Rockefellers leveraged charitable foundations to minimize taxes, allowing them to preserve wealth while directing funds to their preferred causes. 1440Thomas Edison publicly executed animals with AC to convince the public of its dangersJ.P. Morgan first backed Thomas Edison's direct current system, seeing electricity's potential to usurp John D. Rockefeller's kerosene empire. Despite the investments and smear campaign against alternating current, alternating current ultimately won public support after lighting the 1893 World's Fair, after which Morgan would fund Tesla's wireless transmission tower. History
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