David Rockefeller, the last surviving grandchild of John D. Rockefeller, founder of Standard Oil Co., had a well-known affinity for modern art and dedicated much of his life to collecting works by the likes of Diego Rivera, Henri Matisse, Paul Gauguin, and many more. Rockefeller was born into wealth, but over time, his art works began to substantially comprise his personal fortune. Peter Johnson, the Rockefeller’s official historian, noted that the last decade of Rockefeller’s life saw his paintings begin to “constitute a very good portion of his personal estate.” On May 8, when Christie’s will commence auctioning off the collection, we will find out exactly how large that portion actually is.
See James Tarmy, David Rockefeller’s Estate Sale May Hit $1 Billion, Bloomberg, March 7, 2018.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
