Rockefeller Family Chronicle

Author: Collier
Publisher:
Publication Date: 2004-01-01
Features: When it comes to the "Rockefeller family," it is truly a household name, as it owns the largest oil monopoly conglomerate in the United States and the world—Standard Oil Trust. By the mid-to-late 1970s of this century, its assets were conservatively estimated to be as high as $5 billion. Today, American life, from politics and economics to military and culture, is indelibly marked by the "Rockefeller dynasty," this oil giant. The Rockefeller dynasty has flourished for over a hundred years, spanning three generations. Although each generation has made its own contributions and had its own pioneers, it was the first-generation founder, John D. Rockefeller, who truly established the Rockefeller dynasty as an oil behemoth. His creation of Standard Oil Trust laid the foundation for the dynasty's immense wealth. The longevity of the Rockefeller business empire is inextricably linked to the management principles of the elder Rockefeller. In New York, the Rockefeller Center, the World Trade Center, and the Museum of Modern Art are all iconic landmarks directly associated with the Rockefeller family. Gazing upon these magnificent buildings and reflecting on the legendary stories of the individuals behind them evokes a peculiar sense within one's heart.
The first-generation Rockefeller family member, John D. Rockefeller, rose from a $7-a-week laborer in the 19th century to build Standard Oil Company through sheer determination, forming an oil monopoly and earning the moniker "the greatest criminal of his time" from public opinion. Due to its monopoly, Standard Oil was dismantled into over 30 oil companies, including Exxon-Mobil, Chevron, and Amoco. The early U.S. anti-monopoly movement was highly dramatic, filling media and public life with revolutionary slogans reminiscent of China's "land reform." At many times, the Rockefeller family became a target for criticism by the U.S. underprivileged against the wealthy class and even the greedy nature of capitalism. Perhaps the first-generation Rockefellers had some reservations about the public's reaction, so upon his death in 1937, John D. Rockefeller left behind not only a vast fortune for his descendants but also a legacy: that Rockefeller descendants were forbidden from writing autobiographies. Among the countless legendary stories of America's oil magnate, there had never been a voice from within the Rockefeller family itself, further adding to its mystique.
David D. Rockefeller, the grandson of John D. Rockefeller and the third-generation Rockefeller, decided to defy this tradition nearly 70 years later, spending nearly a decade writing his family's history from his perspective, thereby opening a window into the lives of the wealthy class for the first time. As China has entered an era where it dares to pursue wealth, and as there are now many Chinese billionaires like John D. Rockefeller, the question of how the wealthy treat their wealth and how society views them has evolved beyond a simple issue of wealth and morality. With his candid pen, David D. Rockefeller seems to tell a profound parable about how a wealthy person should spend their life, revealing life philosophies that are not exclusive to the rich but are universally shared.
One of the most challenging issues the wealthy face is how to pass on their wealth to the next generation. When David D. Rockefeller's father learned in 1935 that the government would raise gift and estate tax rates, he established the famous 1934 Rockefeller Trust, which became the cornerstone of the Rockefeller family's wealth. Today, many wealthy people worry most about their children losing their sense of perspective and ambition due to the easy access to vast wealth. The Rockefeller family has a clear understanding of the nature of wealth: "Grandfather's wealth is piling up like a snow mountain, and it will collapse and bury him and his children."
The second-generation Rockefeller, "a lifetime of struggle to deserve his name and inheritance," fundamentally views the attitude toward wealth as tied to the education of the wealthy family. The Rockefeller family believes in the natural and autonomous role of education in personal growth, truly hoping to hand over their lives to themselves. David D. Rockefeller, who started primary school at age five and entered Harvard at 17, traveled the world with his family from a young age. The Rockefeller family highly values this educational approach, traveling across the Americas, Europe, North Africa, and beyond with tutors and a multitude of luggage. This education enhanced their ability to understand social diversity and grasp social norms accurately.
The Rockefeller family did not force the third generation into any particular career. They had bankers, philanthropists, vice presidents, art lovers, and even women who were perpetually melancholic and unlucky in love. Fate demonstrated its power here, adding to the family's sense of normalcy.
Born in 1915, David D. Rockefeller, with such a long historical perspective, imbues his recollections with the power of a textbook, often leaving readers in contemplation. As UN Secretary-General Kofi Annan said, "David D. Rockefeller has portrayed his life with candor, sharp insight, and a moving pen."