The Billionaire

If the present business era can admit that the last one produced a hero, John Davison Rockefeller (1839-1937) certainly was it. Last week came the last accounting of this unique figure, the filing of the tax appraisal on his estate.

John D. Rockefeller said: "I believe it is a duty for a man to get all the money he honestly can and to give all he can." Just how much Rockefeller did get is unknown, but in his long lifetime he gave $530,000,000 to individuals and institutions and even more to his own family (in 1921 John D. Rockefeller Jr. held $410,674,000 in Standard Oil stock alone). Of his devotion to his "duty," his old friend Marcus Alonzo Hanna said: "Sane in every respect but one--he is money mad." The new-minted dimes and nickels he gave away were stuffed into his trouser pockets every morning by his valet, $5 a day. Bestowing them, he always admonished: "Save!"

Billionaire Rockefeller retained at his death only $26,410,837, almost entirely in easily convertible corporate and Government securities, including only one sentimental share of Standard Oil Company of California and just about enough U. S. Treasury notes to pay his last taxes: $4,385,000 to New York State, $12,245,000 to the U. S. Treasury. Principal individual beneficiary under his will was Mrs. Margaret Strong de Cuevas, daughter of his eldest daughter Bessie, who died before Rockefeller divided his wealth among his children. Heroically singleminded, he showed no attachment to the things money can buy. He sold his New Jersey and Florida estates to his son for good cash prices, retained only $179,971 worth of miscellaneous property. Samples: $150 worth of lawn furniture, a $45 gold watch, a dozen cocktail glasses ($6), a dozen champagne tumblers ($30), an incomplete set of china ($600). In 97 years Rockefeller accumulated very little to which his heirs assigned no value. But they wrote off 27,733 shares of played-out Mount Powell Mines (Montana), $922.49 deposited in closed banks, six gold-plated collar buttons.

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