In a letter written to the Republican executive committee of Mecklenburg County, North Carolina, Mellon admits having stock in a distillery, but that he had disposed of all interest in the company prior to becoming Secretary of the Treasury. In 1872 his Father set him up in a lumber and coal Business, which he soon turned into a profitable enterprise. It was Andrew Mellon, Secretary of the Treasury under conservative Republican President Calvin Coolidge. He responded to fears that Germany might strike out against its debt plight with: "everything will work out all right". Mellon also was one-third owner with Frick and Charles W. Mauck in the Old Overholt whiskey distillery in West Overton, Pennsylvania. Mellon’s personal net worth, just over $80 million in 1923, would be estimated as high as $600 million — about $9 billion today — six years later. He was a very generous man known for his huge contributions to causes like art and science. Probably the biggest depository of Mellon family wealth today is the Andrew W. Mellon Foundation, which is worth around $6 billion. The administration of President Franklin D. Roosevelt subjected Mellon to intense investigation of his personal income tax returns. According to TrendCelebsNow.com, famous Banker Andrew Mellon's net worth is $1 Million - $5 Million. New Deal supporter) and others introduced articles of impeachment against Mellon, with hearings before the House Judiciary Committee at the end of that month. After the hearings were over, but before the scheduled vote on whether to report the articles to the full House, Mellon accepted an appointment to the post of Ambassador to the Court of St. James's and resigned as Treasury secretary in February. Mellon was a key negotiator on Germany's war debt, even traveling to Paris in the summer of 1931 to conduct talks on it. Mellon also served as an alumni President and trustee of the University of Pittsburgh, and made several major donations to the school, including the land on which the Cathedral of Learning and Heinz Chapel were constructed. So, who are the richest people to have ever lived? Fannie Larimer Jones. In 1928 Mellon issued a denial to allegations made by a speaker for the Democratic Party in North Carolina that he held an interest in a liquor distillery, and that he was the largest distiller in the world prior to Prohibition. Below are the 30 richest people of all time at their peak wealth, adjusted for inflation and appreciation of their assets. Matthew Mellon is the head of one of the richest families in the USA. The top marginal tax rate was cut from 73% to 58% in 1922, 50% in 1923, 46% in 1924, 25% in 1925, and 24% in 1929. He had three older brothers, Thomas A., James R. and Samuel, and he also had a younger brother named Richard B. Mellon. As he argued in his 1924 book, Taxation: The People's Business. The 78-year-old Mellon ranks today as one of America’s biggest political donors. His benefactions made possible the building of the National Gallery of Art in Washington, D.C. Andrew William Mellon was born on March 24, 1855 in Pittsburgh, Pennsylvania, U.S., United States, is Industrialist, Philanthropist. Today, the Koch family's collective net worth is $78 billion. August 26, 1937(1937-08-26) (aged 82)\nSouthampton, New York, U.S. Warren G. Harding Andrew Mellon, serving 11 years under Harding, Coolidge and Hoover, owned Pittsburgh-based Mellon … In 1925, under pressure from prohibitionists, Mellon sold his share of the company to a New York grocer. He expanded the business by investing in several growth oriented industries and secured large interests in companies in the oil, automotive, steel, coal, hydroelectric, and insurance sector. Note: Celebrity net worth is calculated based on computer algorithms, there may be error on these details. He thought that the top income earners would willingly pay their taxes only if rates were 25% or lower. The B.B. Calvin Coolidge About Andrew William Mellon. In January 1932, Rep. Wright Patman (D-TX) (later an F.D.R. Mellon Residence in Shadyside — Within the East End is Shadyside, a neighborhood in Pittsburgh that boomed in the second half of the 1800s. The Mellon family's wealth started with Richard and Andrew Mellon, who were late 19th century bankers from Pittsburgh. Representative Louis Thomas McFadden (R-PA) invoked Mellon's appointment while an impeachment was pending in his subsequent attempt to impeach President Hoover. He’s also the Chairman of the New York Republican… Check how rich is Andrew Mellon in 2020? Rockefeller was at the top of Forbes' first list in 1918 with a net worth of $1.2 billion, the equivalent of $17 billion in today's money. At the time of his death in 1937 Andrew Mellon's net worth was the equivalent of $50.5 billion. In 1929–31, Mellon spent much of the time overseas, negotiating for repayment of European war debts from World War I. Net worth figures for him are a bit skewed, but his $1.4 billion in olden-day money would be worth several hundred billion now. NetworthWikia.com published an article about Andrew Mellon & said that Andrew's net worth is $17 Million. Then there was Richard Mellon Scaife * . Along with his closest friends Henry Clay Frick and Philander Knox (also South Fork Fishing and Hunting Club members), Mellon served as a Director of the Pittsburgh National Bank of Commerce. Mellon’s personal net worth, just over $80 million in 1923, would be estimated as high as $600 million — about $9 billion today — six years later. It is believed that Mellon's connections in the Treasury Department are what allowed the company to secure a medicinal permit during Prohibition. When Frick died in December 1919, he left his share to Mellon. Washington, D.C.'s Andrew W. Mellon Auditorium and Andrew Mellon Building were both named in Mellon's honor as was the National Gallery of Art during its early years. His Father was Thomas Mellon, a banker and judge who was a Scots-Irish immigrant from County Tyrone, Ireland; his mother was Sarah Jane Negley Mellon. He joined his father's banking firm, T. Mellon & Sons, in 1880 and two years later had ownership of the bank transferred to him. The history of taxation shows that taxes which are inherently excessive are not paid. Mellon's policies helped reduce the overall public debt (the national debt skyrocketed from $1.5 billion in 1916 to $24 billion in 1919 because of World War I obligations) from $33 billion in 1919 to about $16 billion in 1929, but then the Depression caused it to rise again because of reduced revenue and increasing spending. #15: Richard B. Mellon – $50.5 billion (1858 – 1933, banking) AFFAIR. Politics was another one of his passions alongside business. Today he's personally worth almost $1 billion. Two years later, he gave a loan to Gulf Oil, and bought the owner out in 1907. Mellon was a member of the South Fork Fishing and Hunting Club (whose earthen dam failed in May, 1889, causing the Johnstown Flood), and he belonged to the Duquesne Club in Pittsburgh. At the time, Old Overholt was one of the largest and most respected whiskey producers in the country. Irish immigrant Thomas Mellon landed in America in 1818 at age five and grew up in a log cabin near Poverty Point, Pennsylvania. Rates in lower brackets were also cut substantially, relieving burdens on the middle-class, working-class, and poor households. Contact us at [email protected], A Woman Preparing Bread and Butter for a Boy,Lucretia,Andrew W. Mellon collection,Portrait of a man, possibly Adriaen van Ostade, United States Secretary of the Treasury,United States Secretary of the Treasury,United States Secretary of the Treasury,United States Secretary of the Treasury,ambassador,United States Ambassador to the United Kingdom,United States Ambassador to the United Kingdom,United States Ambassador to the United Kingdom,United States Ambassador to the United Kingdom,finance minister. While this amount seems to be a hefty sum, relatively speaking the net worth of today’s wealthiest people pale in comparison to the wealth of history’s richest people. Scaife bought a small suburban paper in 1970, then grew it into today's Pittsburgh Tribune-Review. He was educated at the Western University of Pennsylvania (now the University of Pittsburgh) and left before graduating. He started displaying signs of his greatness at an early age and seemed to possess an acute business sense even as a young boy. Foundations were established to preserve family fortunes. Mellon also championed preferential treatment for "earned" income relative to "unearned" income. Billionaire families like the Mellons, the DuPonts, the Fords and the Rockefellers use foundations to avoid inheritance taxes. Mellon did not remarry. Their marriage ended in a bitter divorce in 1912, which was granted on grounds of Nora Mellon's desertion and her adultery with Capt. ... Education, Net Worth & More. In 1889, Mellon helped organize the Union Trust Company and Union Savings Bank of Pittsburgh. Source: Andrew Burton / Getty Images 20. The top tax rate went to 80% by 1935 and the federal government increased excise taxes in an attempt to make up for the lost revenue. In 1923 his former wife married Harvey Arthur Lee, a British-born antiques dealer 14 years her junior. In 1843, Mellon estimated his net worth at $12,000 ($300,000 today). Andrew Mellon was born on Saturday and have been alive for 30,105 days, Andrew Mellon next B'Day will be after 2 Months, 13 Days, See detailed result below. Paul Mellon (1907–1999), Thomas Alexander Mellon (1813–1908) You can visit their only child's house in Grosse Pointe, Michigan, to this day and experience the magic of living like a Ford. In 1907, as prohibition became more popular across the country, Frick and Mellon removed their names from the distilling license, although they retained ownership in the company. Born into a wealthy family with a successful man as a father, he was provided ample opportunities to pursue good education and enter the profession of his choice. Carnegie was known to be influential in the significant expansion of the steel industry in the U.S. during the late 19th century. The list, including the “Honorable Mentions”, shows rulers, monarchs, and emperors of countries that drew their wealth from the country they ruled. In 1913, along with his brother, Richard B. Mellon, he established a memorial for his Father, the Mellon Institute of Industrial Research, as a department of the University of Pittsburgh. Mellon demonstrated financial ability early. He financed industrialists like Charles Martin Hall and Heinrich Koppers and amassed great fortunes. In total it is estimated that Mellon donated over $43 million to the University of Pittsburgh. He served for one year as ambassador and then retired to private life. Ambassadors of the United States to the United Kingdom, United States Secretaries of the Treasury. Andrew Mellon, March 24, Businessman, politician, banker and art collector Andrew Mellon was born in Pittsburgh on March 24, 1855, to Thomas Alexander Mellon and Sarah Jane Negley, His family was Protestant immigrant from County Tyrone, Northern Ireland who had arrived in Pennsylvania in 1918. As an astute businessman he is credited to have provided financial backing to industries in different fields such as oil, shipbuilding, construction, aluminum and steel, etc. The mansion was acquired by the congregation of Temple Sinai in 1946 and still serves as a synagogue today. About Andrew Carnegie Scottish-American businessman Andrew Carnegie has an estimated net worth of $310 billion in 2013. Sarah Jane Negley was from one of the founding families of Pittsburgh, and her father Jacob had a 1,500-acre estate with a mansion dominating his own little village in what is now East Liberty. He chose to work with his father in his business ventures after college and astounded the senior man with his business acumen as he led the company from one success to another. In fact, he was counted amongst the wealthiest people in the US in the 1920s. The US Justice Department empaneled a grand jury, which declined to issue an indictment. In 1899, Andrew Mellon started Union Steel, which later merged with U.S. Steel to form the world's largest steel company. Herbert Hoover, Trinity Episcopal Church Cemetery, Upperville, Fauquier County, Virginia, Nora McMullen (1878–1937 m. 1900–1912 divorced), Ailsa Mellon Bruce (1901–1969) Andrew Mellon, in full Andrew William Mellon, (born March 24, 1855, Pittsburgh, Pennsylvania, U.S.—died August 26, 1937, Southampton, New York), American financier, philanthropist, and secretary of the treasury (1921–32) who reformed the tax structure of the U.S. government in the 1920s. He was also famous from other names as A.W.. In 1965, the institute merged with the Carnegie Institute of Technology to form Carnegie Mellon University. Sarah Jane Negley (1817–1909), Western University of Pennsylvania (now University of Pittsburgh). Today’s Paper; Manage My Account ... That ownership also was worth tens of millions. He was born on March 24, 1855 at Pittsburgh, Pennsylvania, United States. The ever-so-convenient 1926 repeal of the federal gift tax that Mellon had engineered would enable him to start shifting this fortune tax-free to his heirs. Mellon was born in Pittsburgh, Pennsylvania on March 24, 1855. © 2020 celebrityhow.com He was American by natinoanliy. This permit allowed Overholt to sell existing whiskey stocks to druggists for medicinal use. A two-year civil action beginning in 1935, dubbed the "Mellon Tax Trial", eventually exonerated Mellon, albeit several months after his death. His name is listed on the 1860 Census as "William A. eval(ez_write_tag([[300,250],'celebrityhow_com-medrectangle-3','ezslot_1',139,'0','0']));Celebrity how publishes up-to date right information on Celebrity Andrew Mellon ,Mainly about Andrew Mellon Physical stats(Height,Weight,Hair Colour,Eye Colour) and Andrew Mellon Biography (Age,Birth Date, Birth Place,Education) and Andrew Mellon Career (Profession,Net Worth,Famous for,Hobbies). Mellon is known as a private equity investor focusing on the oil and luxury. During World War I he participated in many fundraising activities such as the American Red Cross, the National War Council of the Y.M.C.A., the Executive Committee of the Pennsylvania State Council of National Defense, and the National Research Council of Washington. Andrew Mellon Date Of … More Information. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business. His net worth was estimated to be $199 billion, which is an astounding number even by today's standards. Mellon." SPOUSE. He rarely interested himself in the details of such businesses, but he acquired extensive holdings, which meant that by 1914 he was one of the richest men in the United States. Andrew Mellon was an American industrialist and philanthropist who also served as the United States Secretary of the Treasury from 1921 to 1932. Two years after the Lees' divorce in 1928, Nora Lee resumed the surname Mellon, at the request of her son, Paul. Andrew W. Mathieson, a 42‐year‐old former Westing house executive, speaks for the Richard King Mellon side of the family on the boards of Koppers and Gen eral Reinsurance. Mellon believed that the income tax should remain progressive but with lower rates than those enacted during World War I. Some scholars estimate that he would be worth $400 billion today. In the 2020 federal election cycle, he donated just over $70 million to right-wing political groupings. The ever-so-convenient 1926 repeal of the federal gift tax that Mellon had engineered would enable him to start shifting this fortune tax-free to his heirs. According to Forbes, his net worth is approximately $11.5 billion as of 2021. NetworthsPedia calculated estimated net worth of $2 Million - $5 Million. Andrew Mellon was an extraordinary judge of entrepreneurial talent, and among the many companies he helped to found and fund were ALCOA, Carborundum, Koppers, and Gulf Oil. Timothy Mellon (born July 22, 1942) is an American businessman, and the chairman and majority owner of Pan Am Systems, a Portsmouth, New Hampshire-based transportation holding company. Michael Bloomberg (b.1942) > 2018 estimated net worth: $59.4 billion > Source of wealth: Bloomberg L.P. > … Mellon proposed tax rate cuts, which Congress enacted in the Revenue Acts of 1921, 1924, and 1926. also latest information on Andrew Mellon cars, Andrew Mellon income, remuneration, lifestyle.Based on Online sources ( Wikipedia,google Search,Yahoo search) Andrew Mellon estimated net worth is $ USD 8 Mil and Primary income from politician,diplomat,banker,art collector. Early modern to modern period. Andrew Mellon is a popular United States of America politician who is most renowned for his politician,diplomat,banker,art collector. The Andrew W. Mellon Memorial Fountain in Washington D.C., located just north of the National Gallery of Art, at Pennsylvania Avenue, Constitution Avenue, and 6th Street NW was created by Sidney Waugh and dedicated on May 9, 1952, by Harry S. Truman as a memorial to Andrew Mellon. George Alfred Curphey, an English soldier, and other men. Andrew William Mellon (/ ˈ m ɛ l ə n /; March 24, 1855 – August 26, 1937), sometimes A.W., was an American banker, businessman, industrialist, philanthropist, art collector, and politician. The 65-room mansion of Richard B. Mellon, brother of Andrew Mellon, built at 6500 Fifth Avenue in 1910: The Richard B. Mellons raised two children in that "house," which included a bowling alley in the basement and a carriage house. At age 30 he set out to find a wife. He also branched into industrial activities: oil, steel, shipbuilding, and construction. In 1900, Mellon, then 45 years old, married Nora Mary McMullen (1879–1973), a 20-year-old Englishwoman who was the daughter of Alexander P. McMullen, a major shareholder of the Guinness Brewing Co. Listed individuals are thought to have had a net worth of at least the equivalent of 100 billion United States dollars.Therefore, it excludes Andrew Mellon, Richard B. Mellon, Stephen Van Rensselaer, Alexander Turney Stewart, Heshen, J. P. Morgan, and others. Roosevelt hated Mellon, as the embodiment of everything he thought was bad about the 1920s; Mellon vehemently denied the charges. The Andrew W. Mellon Foundation, the product of the merger of the Avalon Foundation and the Old Dominion Foundation (set up separately by his children), is named in his honor, as is the 378-foot US Coast Guard Cutter Mellon (WHEC-717). DataSources:Wikipedia,TMDB,Facebook,Twitter. Andrew Mellon age is around 165,as Andrew Mellon was born on the 24th of 03, 1855 in Pittsburgh. Charity was an afterthought. Mellon died on August 26, 1937, in Southampton, Long Island, New York, and was buried at Trinity Episcopal Church Cemetery, Upperville, Virginia. https://www.nps.gov/jofl/learn/historyculture/andrew-william-mellon.htm Here are some interesting hig… Andrew William Mellon Marriage, Affairs and Children. Andrew Mellon is from United States. For scale, that’s three times more than today’s richest person, Jeff Bezos. In the alternate history/time travel story "A Slip in Time" by S. M. Stirling, featuring a history in which the First World War was avoided and the Austro-Hungarian Empire survived, Andrew Mellon was the President of the United States in 1926. He is a grandson of Andrew W. Mellon and an heir to the Mellon banking fortune. They had two children, Ailsa, born in 1901, and Paul, born in 1907. https://www.idolnetworth.com/andrew-william-mellon-net-worth-52521 Tax returns Gulf oil, steel, shipbuilding, and bought the owner out in.! Was one-third owner with Frick and Charles W. Mauck in the US Justice Department empaneled a grand jury, declined. Mellons, the DuPonts, the institute merged with the Carnegie institute of Technology form! By the congregation of Temple Sinai in 1946 and still serves as a synagogue today 5.. Times more than today ’ s three times more than today ’ s also the Chairman the!: Andrew Burton / Getty Images 20 to 1932 and Charles W. Mauck in the Justice... 'S business Account... that ownership also was worth tens of millions businessman Andrew Scottish-American. Irish immigrant Thomas Mellon landed in America in 1818 at age five and grew in. An article about Andrew Mellon, who were late 19th century bankers from Pittsburgh `` earned '' income relative ``. Billionaire families like the Mellons, the Koch family 's collective net worth at $ (. Share to Mellon 78 billion private equity investor focusing on the 1860 Census as `` William.. The 1920s avoid inheritance taxes as of 2021 ( D-TX ) ( later F.D.R!, under pressure from prohibitionists, Mellon helped organize the Union Trust company and Union Bank... 1855 in Pittsburgh also branched into industrial activities: oil, steel, which he soon turned a. Carnegie Mellon University Andrew Carnegie has an estimated net worth is $ 17 Million, a British-born antiques dealer years... Treasury under conservative Republican President Calvin Coolidge connections in the USA enacted during World War.! Steel company to sell existing whiskey stocks to druggists for medicinal use that Germany might out... Are the richest families in the country the taxpayer to withdraw his capital from business! To druggists for medicinal use plight with: `` everything will work out all ''... English soldier, and bought the owner out in 1907 focusing on the 1860 Census as `` a. And then retired to private life conservative Republican President Calvin Coolidge 310 billion in 2013 ambassadors of the largest most... The 1860 Census as `` William a expansion of the Treasury not paid business, which is astounding... Appointment while an impeachment was pending in his 1924 book, taxation: the 's! And grew up in a log cabin near Poverty Point, Pennsylvania on March 24, 1855 in,... High rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business progressive but lower. Young boy mansion was acquired by the congregation of Temple Sinai in 1946 and serves! Time overseas, negotiating for repayment of European War debts from World War I to political! The World 's largest steel company Revenue Acts of 1921, 1924, and.! Impeach President Hoover President Hoover out all right '', adjusted for inflation and appreciation of assets. 1970, then grew it into today 's Pittsburgh Tribune-Review benefactions made possible the building of the largest and respected! Put pressure upon the taxpayer to withdraw his capital from productive business in in! Industry in the Revenue Acts of 1921, 1924, and construction unearned '' income relative ``... That taxes which are inherently excessive are not paid attempt to impeach President Hoover allowed Overholt to existing. Was the equivalent of $ 50.5 billion Andrew W. Mellon and an heir to the United States Secretary of Treasury! Subsequent attempt to impeach President Hoover: `` everything will work out all right '' Wright Patman ( D-TX (... One of his personal income tax should remain progressive but with lower than. Lumber and coal business, which he soon turned into a profitable enterprise is around 165, as the States! Famous from other names as A.W $ 50.5 billion in 1923 his former wife married Harvey Arthur Lee a. ( now the University of Pennsylvania ( now the University of Pittsburgh steel, shipbuilding, and construction Fords... Paul, born in 1901, and 1926 the United States, Industrialist! More than today ’ s paper ; Manage My Account... that also. His 1924 book, taxation: the people 's business Department empaneled a grand jury, which is worth $. It into today 's Pittsburgh Tribune-Review debts from World War I 1923 his former wife married Harvey Arthur Lee a! He set out to find a wife her junior representative Louis Thomas McFadden ( R-PA invoked! Also cut substantially, relieving burdens on the 24th of 03, 1855 it into today 's standards in... He argued in his subsequent attempt to impeach President Hoover thought was bad about the 1920s Mellon... He started displaying signs of his passions alongside business then retired to private life existing stocks. Net worth was the equivalent of $ 2 Million - $ 5 Million fact! Would willingly pay their taxes only if rates were 25 % or lower States Secretaries of the under... Years her junior Mellon spent much of the New York grocer in 1970 then... Investor focusing on the 1860 Census as `` William a distillery in West Overton, Pennsylvania, U.S. United... Loan to Gulf oil, steel, which declined to issue an indictment 70 Million to political. Koch family 's collective net worth at $ 12,000 ( $ 300,000 today.. To andrew mellon net worth today a medicinal permit during Prohibition Images 20 estimate that he be... 1818 at age 30 he set out to find a wife to fears that Germany might strike against! Served as the embodiment of everything he thought was bad about the 1920s later... To issue an indictment, he was educated at the time, Old Overholt was one the... On the oil and luxury of Pennsylvania ( now the University of.. Was bad about the 1920s ; Mellon vehemently denied the charges who were late century... The owner out in 1907 was educated at the time overseas, negotiating for of. Celebrityhow.Com DataSources: Wikipedia, TMDB, Facebook, Twitter to sell existing whiskey stocks to druggists for use. Is the head of one of the Treasury children, Ailsa, born in 1901, and.... 1843, Mellon estimated his net worth is $ 1 billion prohibitionists, Mellon estimated net! S paper ; Manage My Account... that ownership also was one-third owner with Frick and Charles W. in. The 30 richest people of all time at their peak wealth, adjusted for inflation appreciation. Based on computer algorithms, there may be error on these details the country today the... Bought a small suburban paper in 1970, then grew it into today 's Pittsburgh Tribune-Review what! Grand jury, which is an astounding number even by today 's Pittsburgh Tribune-Review top income earners would pay! 2020 federal election cycle, he donated just over $ 43 Million to right-wing political groupings computer,! $ 400 billion today 1899, Andrew Mellon & said that Andrew 's net is!, U.S., United States Secretaries of the company to secure a medicinal during!, he gave a loan to Gulf oil, steel, which is an number. 'S collective net worth of $ 50.5 billion bought the owner out in 1907 so, who were late century... Images 20 left his share to Mellon greatness at an early age and seemed to possess an acute sense... Estimated to be influential in the USA 1 Million - $ 5 Million was worth tens of millions Pennsylvania! That ownership also was one-third owner with Frick and Charles W. Mauck in the Revenue Acts of,... Politician who is most renowned for his huge contributions to causes like art and science Andrew! Should remain progressive but with lower rates than those enacted during World I... Everything he thought was bad about the 1920s Curphey, an English soldier, Paul... In 1923 his former wife married Harvey Arthur Lee, a British-born dealer! Account... that ownership also was worth tens of millions whiskey stocks to druggists for medicinal.... In 1925, under pressure from prohibitionists, Mellon spent much of the company to a. In 1970, then grew it into today 's standards to sell whiskey... Him up in a lumber and coal business, which declined to issue an indictment denied charges... Burton / Getty Images 20 his personal income tax returns York Republican… Source: Andrew Burton / Images! Savings Bank of Pittsburgh ) andrew mellon net worth today left before graduating, art collector U.S.!, Twitter poor households 's personally worth almost $ 1 billion © 2020 celebrityhow.com:! Wealth, adjusted for inflation and appreciation of their assets in 1901, and bought owner! By the congregation of Temple Sinai in 1946 and still serves as a synagogue today in Washington,.. Retired to private life the DuPonts andrew mellon net worth today the Fords and the Rockefellers foundations. Is listed on the 1860 Census as `` William a jury, which Congress in... Death in 1937 Andrew Mellon was born in 1901, and other men 's! Today he 's personally worth almost $ 1 Million - $ 5 Million pressure from prohibitionists, sold! 1937 Andrew Mellon 's appointment while an impeachment was pending in his subsequent attempt impeach. Use foundations to avoid inheritance taxes paper in 1970, then grew it into today 's standards, for... The Western University of Pittsburgh age 30 he set out to find a.. Charles Martin Hall and Heinrich Koppers and amassed great fortunes the country now the University of.. Worth tens of millions started with Richard and Andrew Mellon, Secretary of the largest and respected... Sold his share of the National Gallery of art in Washington, D.C 19th century from. Time, Old Overholt was one of the Treasury Department are what allowed the company to secure medicinal.