Billionaire globalist David Rockefeller dies at 101

Billionaire globalist David Rockefeller dies at 101

David Rockefeller, the famed banker and philanthropist, died Monday at age 101, according to a spokesperson for the Rockefeller Brothers Fund.

He died in his sleep Monday morning of congestive heart failure at his home in Westchester County, New York, according to family spokesman Fraser P. Seitel.

The world-known philanthropist and confidante of several U.S. presidents, David Rockefeller, was born in 1915 as the grandson of the oil baron John D. Rockefeller, the first billionaire in the United States history. He persistently lauded the benefits of capitalism.

Rockefeller graduated from Harvard in 1936 and received a doctorate in economics from the University of Chicago in 1940.

The bank later became JPMorgan Chase, one of the world's largest financial institutions. "The problem is to see that the system is run as efficiently and as honestly as it can be".

Rockefeller favored assisting economies overseas on grounds that bringing prosperity would create customers for American products. He also embodied an era when globe-trotting bank chiefs worked with the world's most powerful politicians.

Mr Rockefeller retired in 1981 aged 65.

Rockefeller traveled the world both before and after his retirement, traveling to the Soviet Union, South America, and China.

Rockefeller collected beetles as a lifelong hobby and also acquired art - a Mark Rothko painting he bought in 1960 for less than $10,000 was auctioned for more than $72 million in May 2007.

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

He was awarded a Presidential Medal of Freedom, the nation's highest civilian honor, in 1998.

Rockefeller's wife, Peggy, died in 1996.

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