FORTUNES REDUCED
KOCKEFELLEKS’ losses £70,000,000 SINCE 1929 NEW YORK, Oct. 3. The fortune of the two Rockefellers, father and son. has been reduced by tho financial depression from £IOO,000,000 in 1929 to £30,000,000 to-day. This is the estimate made by Mr. John Flynn, the economist and biographer of'the older Rockefeller. Mr. Rockefeller, sen., Mr. Uynn estimates, retired from active business in 1890 with a fortune of £4o,* 000,000. By wise investment the sum grew to £200,000,000. . The gigantic philanthropies of father and son had by 1928 reduced the fortune to about £100,000,000. According to Mr. Flynn, most of the fortune was invested in gilf-edged securities. Depreciation in. stock and bonn values, he saw,, must, have reduced it to about one-third its original size.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17956, 7 December 1932, Page 4
Word Count
123FORTUNES REDUCED Poverty Bay Herald, Volume LIX, Issue 17956, 7 December 1932, Page 4
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