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Do the Rockefellers still make money?
How about Standard oil? I know it was broken up, but do the companies made due to the breakup make the Rockefellers any money?
3 Answers
- ?Lv 46 years agoFavorite Answer
Standard Oil was broken up long ago into several smaller companies that now compete for dominance. One you might already know, its called Exxon Mobil and is the worlds most powerful company still. The Rockefeller family primarily draws their income from a series of trusts left by older generations of the family that often contain money in the form of investments or stocks in companies. Much of the bulk of the family's fortune is in a trust created by John D. Rockefeller and the wealth is controlled and managed by professional managers hired by the family and headed by David Rockefeller the current chairman of the board for Rockefeller Financial Services. They own massive amounts of real estate, huge levels of income from companies they still own and much more. Despite this however their wealth of unimaginable proportions quickly died out after the 70's as their wealth began to decline mainly due to the influx of new companies and technologies that easily outstripped their level of wealth.
The entire family is currently worth around 10 billion dollars which is still a substantial sum but compared to the wealth of John Rockefeller when Standard Oil was still around makes it pale in comparison. Back in the prime of Standard Oil John D. Rockefeller was estimated to be worth anywhere from 300 billion USD to almost 600 billion USD adjusted for inflation.
- ?Lv 76 years ago
They are now stock companies and some of the Rockefeller's heirs may still own some of the stock.
- Anonymous6 years ago
Of course, the heirs of John D. still "make money."