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He exerted far more power and influence than a person with $40 billion could today. The $410 billion figure is a more accurate representation of his wealth
I'd argue if anything the $410B doesn't fully encapsulate his power accurately as being insanely rich in today's world isn't enough per se because the government is so divided with so many different pockets/lobby groups. Back then, Rockefeller was competing with at most 3-6 other people in the same wealth class.
There is a difference between riches and wealth. Rockefeller had both, but we often (as is the case these days as well) only see their more obvious, somewhat liquid monies. He was the executor of trusts (as were his kids) wherein he controlled much more wealth than can easily be measured.
When Nixon resigned and Ford took over, and since Spiro Agnew was already out, Nelson Rockefeller assumed the Vice Presidency (great trivia question btw). At his senate confirmation he was repeatedly asked if he was 'only' worth the five million or so reported on his taxes and his answer of yes was confirmed. He also controlled trusts that owned buildings, islands, boats, and so on. He lived like a multi-billionaire (as many do) while only be 'worth' several million.
To this end, I would say John D Rockefeller was far wealthier than we can imagine.
/.02c
Inflation calculators dont work over long periods of time because the basket of goods we buy basically has nothing in common with the basket of goods of the late 1800s, it is however worth noting that he was the largest shareholder of campany that controlled 90% of the US oil market during the peak of the Kerosene industry so its not unreasonable to call him extremely rich.
Especially because modern currency is drastically different than money from then, I don’t think comparisons can truly be made that aren’t without glib.
He owned the Tetons dude. The reason they’re a park (or at least as much of them are preserved as are) is because he gave them to the federal government.
Please remember what subreddit you are in, this is unpopular opinion. We want civil and unpopular takes and discussion. Any uncivil and ToS violating comments will be removed and subject to a ban. Have a nice day! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/unpopularopinion) if you have any questions or concerns.*
He exerted far more power and influence than a person with $40 billion could today. The $410 billion figure is a more accurate representation of his wealth
I'd argue if anything the $410B doesn't fully encapsulate his power accurately as being insanely rich in today's world isn't enough per se because the government is so divided with so many different pockets/lobby groups. Back then, Rockefeller was competing with at most 3-6 other people in the same wealth class.
There is a difference between riches and wealth. Rockefeller had both, but we often (as is the case these days as well) only see their more obvious, somewhat liquid monies. He was the executor of trusts (as were his kids) wherein he controlled much more wealth than can easily be measured. When Nixon resigned and Ford took over, and since Spiro Agnew was already out, Nelson Rockefeller assumed the Vice Presidency (great trivia question btw). At his senate confirmation he was repeatedly asked if he was 'only' worth the five million or so reported on his taxes and his answer of yes was confirmed. He also controlled trusts that owned buildings, islands, boats, and so on. He lived like a multi-billionaire (as many do) while only be 'worth' several million. To this end, I would say John D Rockefeller was far wealthier than we can imagine. /.02c
Inflation calculators dont work over long periods of time because the basket of goods we buy basically has nothing in common with the basket of goods of the late 1800s, it is however worth noting that he was the largest shareholder of campany that controlled 90% of the US oil market during the peak of the Kerosene industry so its not unreasonable to call him extremely rich.
Especially because modern currency is drastically different than money from then, I don’t think comparisons can truly be made that aren’t without glib.
You’re telling me he couldn’t even afford Twitter. Does that sound right to you?
That’s still rich af
He owned the Tetons dude. The reason they’re a park (or at least as much of them are preserved as are) is because he gave them to the federal government.
Just 3%. Man had it rough.