Companies
The Rockefeller Family
The Rockefeller name is synonymous with big business in the USA, and has been over a considerable period of time, ranking alongside Carnegie and perhaps Rothschild in wealth – the former also as a similarly self-made billionaire family, the latter also because of assumed similar Germanic roots. The rising force in the family was John D. Rockefeller in the second half of the 19th century, virtually monopolising the burgeoning oil industry in the US and worldwide at the time, and leaving a legacy taken up by his descendents over the last 100 years, and hence either envied, respected or feared because ‘money talks’, and therefore has influence.
The Rockefellers did indeed originate in what is now Germany, from Fahr in the Rhineland. Johann Peter migrated to the USA in 1723 and settled in New Jersey, soon after altering the surname spelling from Rockenfeller or Rockenfelder. The family were farmers, and remained so until John D.’s father William, who worked in various jobs such as lumberman, and selling so-called elixirs, and whose checkered career included bigamy, name changing, and frequent moves around the US and Canada. Clearly, he was no billionaire, and in fact John D. refused to recognise him at all for many years, as having brought shame to the family of the, later, richest man in the world.
John D. was born in 1839 – he studied bookkeeping and then accountancy, before selling produce and other foodstuffs, making sufficient money so that, with partner Maurice B. Clark, Samuel Andrews and Clark’s two brothers, in 1863 he was able to build an oil refinery, early on spotting the potential of the resource. John D. subsequently bought-out the Clarks, and when his brother William built another refinery, the company Rockefeller, Andrews and Flagler was formed.
John D. was the businessman behind the venture – although he maintained that wife Laura was the real brain behind all business decisions – and steadily bought-up the oil-producing areas, built refineries as necessary, and controlled the methods of distribution, particularly the railways. In 1870, Standard Oil was formed, and by 1872 Rockefeller effectively had control of 90% of oil production, refining and distribution in the US, and actually in the world at that time. Despite anti-monopoly laws subsequently enacted by many US states, Rockefeller’s tough business dealings and his adaption of his operations legally circumvented these barriers. Kerosene was eventually replaced by gasoline, natural gas was marketed, and coal and iron ore mined – John D. was careful to maintain overall control of the companies and trusts.
Specifically, through maintaining an effective monopoly of the oil business, Rockefeller had now amassed a considerable fortune. At one time his wealth represented more than 1.5% of the US economy, around $25 billion, and he was the richest person not only in the US but in the top three in the world. His thoughts turned to retirement and philanthropy; despite his ruthless business methods, Rockefeller had always contributed to charities. In particular, he was at the forefront of medical research, and he founded or donated to as many as 70 educational institutions.
John D. Sr died in 1937, and his only son John D. Jr – known as Junior – assumed nominal control of the family fortune. Male members of the family have remained ostensibly in control of finances, although under the auspices of the 1934 Trust, and the 1952 Trust; all have been managed professionally. Junior’s particular divergent interest was to be in banking, as he had been given 10% of Equitable Trust Company stock by his father, which was subsequently subsumed into Chase National Bank, of which he was the largest shareholder, albeit at just 4% but it was the largest bank in the world at the time. Subsequent mergers with the Manhattan Company(1955) and then JP Morgan(2000) brought it to its current status as JP Morgan Chase, one of the four big banks in the US with assets in 2016 approaching $3 trillion.
Junior and the successive members of the family have inevitably been involved in real estate as well, principally in New York City and including housing developments as well as noted singular buildings, but Junior was actually always at least as interested in philanthropy as much as maintaining or expanding the family business. Continuation with support of education and medical research was complemented by involvement in many international institutions, often as part of or off-shoots of the League of Nations and then the United Nations – Junior even donated the land in New York City on which the United Nations building stands. There has also been a consistently heavy engagement in conservation, notably through either establishing or contributing to national parks around the US.
A further interesting recent development has been the declaration by the Rockefeller Brothers Fund in 2014, that it will divorce itself from all involvement in fossil fuels, in recognition of their (at least perceived) effect on climate change.
John D. Jr and wife Abby – daughter of Senator Aldridge – had a daughter and five sons. John D. 111 and his sister Abigail concentrated on philanthropy; John D. 111 sat on many boards, including the University of Chicago – which John D. Sr had established – what became Rockefeller University, International Education and China Medical Boards. He joined the family’s Rockefeller Foundation philanthropic organization in 1929, becoming chairman for twenty years, and was the first president of the Rockefeller Brothers Fund (1940-56).
Son David moved into banking as Chairman and CEO of Chase Manhattan, expanding it internationally such that it now has over 50,000 branches and is a significant influence in banking around the world. He was President (1960-69), and then chairman and CEO (1969-80).
Laurance became a venture capitalist principally through Venrock Associates, which funded Apple and Intel and various other companies in the expanding technology sector. He was a founding trustee member of the Rockefeller Brothers Fund(1940-82), serving as president(1958–68) and then chairman (1968–80), and a founding trustee of the Rockefeller Family Fund, serving from 1967 to 1977. After World War 11, his interest in flying saw him fund what became the McDonnell Aircraft Corporation
Nelson is probably the best known son, as he was Governor of New York State from 1959-73, and then served as Vice-President of the US under President Gerald Ford from December 1974 to January 1977, following President Nixon’s resignation. He had previously been involved in positions of national affairs in health, education and welfare under presidents from Roosevelt to Eisenhower.
Winthrop became the first Republican Governor of Arkansas(1967-71) since the civil war. He had moved his family to the state in the early 1950s, and set up in farming
There is no doubt that the name Rockefeller still carries considerable weight and influence, both domestically and internationally, as the family has been involved in several major businesses, and in politics over more than 100 years. There are over 150 direct blood descendants of John D. Sr alive as of mid-2016, many still intimately involved in the variety of businesses already mentioned, as well as in influential political positions, plus maintaining the philanthropic activities for which the family has become justly respected, although some would say for less than altruistic reasons.
However, the family no longer holds a pre-eminent position in terms of net worth that it enjoyed at the time of John D. Sr’s passing. Estimates by authoritative sources put the family’s fortune at over $11 billion, ranking them in the low 20s of richest families in the USA in 2016. Of course, their continuing philanthropic activities means that the family is never likely to reach former heights of wealth established by the then richest person in the world, John D. Rockefeller Sr.
Companies
BlackBerry Expected to get $500 Million Tax Refund
BlackBerry is poised to get a huge tax break. Within the 2nd quarter of FY 2014, BlackBerry posted a tax reduction of $965 million, chiefly in the foundation of inventory writedown. But, various other facets of the finances are going to look when some regulatory filings become public. Some of those variables include the prices with remodeling the whole smartphone lineup, laying-off 4, 500 workers and revamping sales and marketing. The business is in the middle of restructuring and is seeking a customer, as revenue of the BlackBerry Z10 touchscreen mobile are lower than expected. It seems, though, that BlackBerry might ultimately be coming out after once having become the darling of the PDA market.
Companies
Net Worth Of The World’s Richest Families
The richest individuals around the world are constantly in the headlines, partly out of fascination for just how much they are worth – amounts unimaginable to the average person, regardless that 80% of ‘the richest’ are actually self-made billionaires. However, during this period of stock markets’ volatility in early 2016, they are just as newsworthy for how much they can lose, or gain, in one day, which can markedly effect their ranking on the ‘richest list’.
Not so well-known are families with accumulated net worth which puts them close to the aforementioned richest individuals, perhaps unsurprisingly if there are three, four or five relatively ‘super-rich’ relatives who pool their energies, business interests and their net worth. Many are indeed consistently linked in a family business or conglomerate, as can be seen in this list which authoritative sources estimate comprise the richest in the world, share markets allowing! Very few are built on ‘new’ money, but mostly the result of steady growth over, in some cases, hundreds of years.
10. Cox family Net worth: $34.5 billion
[one_half][/one_half][one_half_last]From: USA
James M. Cox was firstly a social reforming politician, being twice elected Governor of Ohio, but also built a considerable business empire in the media and communications industries beginning before the turn of the 20th century, so now well over100 years old. Now under the control of James’ daughter Anne Cox Chambers and his grandchildren James Cox Kennedy – current chair of Cox Enterprises – and Blair Parry-Okeden who are all heirs to a considerable fortune, the company is now expanding its interests into the automotive industry.[/one_half_last]
9. Bernard Arnault & family Net worth: $37.7 billion
[one_half][/one_half][one_half_last]From: France
World renowned names Moet Hennessy and Louis Vuitton (LVMH) are just two of the business interests of the Arnault family, which also has interests in retail, yachts and web companies as well as in Christian Dior, a prominent fashion brand. CEO and chairman is still Bernard, but Executive VP at LVMH is daughter Delphine, and CEO of Berluti, a subsidiary of LMVH, is his son Antoine. The company made initial inroads into business through real estate, but smart investing saw it reach its current prominent position in several industries.
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8. Liliane Bettencourt & family Net worth: $42.7 billion
[one_half][/one_half][one_half_last]From: France
The French are certainly still one of the fore-runners in the world of cosmetics and perfumes, as proven by their leading lengevity in the industry. The world-dominating cosmetic company L’Oreal is now run by Liliane Bettencourt’s daughter Francoise and grandson Jean-Victor Meyers, but she is still the richest woman in the world and principal shareholder of the company her father Eugene founded in 1907. She only retired from active involvement in 2011, aged 89.
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7. Cargill-MacMillan family Net worth: $45 billion
[one_half][/one_half][one_half_last]From: USA
Cargil Inc. outranks Koch enterprises in being the largest private company in the USA, with and 88% of it still owned by family members, in fact currently boasting 14 billionaires. William Wallace Cargill founded the company based on grain storage in 1865, which was split among his four children when he died in 1909. The company’s interests now include trading commodities as well as food products. In-laws the MacMillans are billionaires, the total wealth of the expanded family being an estimate because of the privacy attendant to the conglomerate.[/one_half_last]
6. Carlos Slim Helú & family Net worth $77.1 billion
[one_half][/one_half][one_half_last]From: Mexico
Son Carlos is now the chairman of Grupo Carso, and with three siblings is ready to take over completely the conglomerate built-up by the second richest person in the world. The ‘Warren Buffett of Mexico’, Carlos Slim Helú is so important to Mexico – accounting for 40% of the listings on the Mexican stock exchange – made from scratch largely from his development of telecoms, that there is a strong chance of the Mexican economy collapsing if the stock exchange took a real dive.
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5. Mars family Net worth: $80 billion
[one_half][/one_half][one_half_last]From: USA
Mars Bars and M & Ms were developed more than 80 years ago, and are still going strong. Franklin Mars obviously knew his candy, and the money to be made out of it. As with other rich families, the family and the business are still private. Franklin founded the business in 1911, and son Forrest Sr. joined the company in 1929; children, Forrest Jr., Jacqueline and John continue to own the whole of Mars Inc., which now also makes pet foods as well as pasta sauces, and which means that they are now worth almost $30 billion each.
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4. Koch family Net worth: $89 billion
[one_half][/one_half][one_half_last]From: USA
In the country with the world’s largest GDP, Koch Industries is now the second-largest privately-held company in the USA. Charles and David Koch had the nous to buy-out their two other brothers in the early 1980s, and now control the oil and refining company founded by their father Fred C. Koch in 1940. Subsidiary interests in finance, manufacturing, trading and real estate have ensured the continued growth of this multinational corporation, with the brothers net worth now approaching $50 billion each.
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3. Walton family Net worth: $152 billion
[one_half][/one_half][one_half_last]From: USA
Jim, Rob, and Alice are direct heirs of Sam and James Walton, who had the foresight to establish Walmart in the southern USA in 1962. Christy is the widow of his son John who died in a ‘plane crash in 2005, and with her children the six Waltons control 54% of the shares of the world’s largest retailer. The company’s revenue regularly hits $500 billion, through 11,500 stores in 28 countries, so the present owners sum value is usually over $160 billion – share market machinations permitting!
- S. Rob Walton Net Worth
- Alice Walton Net Worth
- Christy Walton Net Worth
- Sam Walton Net Worth
- Jess Walton Net Worth
- Bill Walton Net Worth
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2. The House of Saud Net worth: $1.4 trillion
[one_half][/one_half][one_half_last]From: Saudi Arabia
The al-Saud family have been in control of at least part of the Arabian peninsular since the early 1700s, and like the Rothschilds, their wealth is now distributed through so many family members that the total can only be estimated. Saudi Arabia is now run as an absolute monarchy, effectively established under the patronage of the British following the break-up of the Ottoman empire after World War One. Of course their main source of wealth is oil, the price of which has a very significant effect on the al-Saud family wealth, and the budget of the country! Salman bin Abdulaziz al Saud has been king since early 2015.
- King Salman Of Saudi Arabia Net Worth
- King Abdullah bin Abul Aziz Net Worth
- King Salman Of Saudi Arabia Net Worth
- Prince Al-Waleed Bin Talal Alsaud Net Worth
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1. Rothschild family $350 billion – $700 trillion
[one_half][/one_half][one_half_last]From: Germany (originally)
The name itself is fascinating, but more so because the family is now so widespread, with all their wealth effectively ‘private’, so the total of their net worth is always open to conjecture. However, since Mayer Amschel Rothschild established his banking company in Frankfurt, now Germany, in the 1700s, and distributed his five sons to the five centres of European finance, the family has had a finger in virtually every pie – business, industry, enterprise, exploration, war – over the last 250 years. Their influence has been such that descendents have been elevated to royal rank in countries such as Austria and the UK. The family fortune is therefore only an estimate, but even at the lower end it is still extremely impressive!
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Tids1960
December 1, 2016 at 8:40 pm
AND….
They’re EUGENICIST