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The U.S. wealth scorecard
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September 21, 1998: 10:45 a.m. ET
How America's all-time richest people stack up in today's economy
From correspondent Peter Viles
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NEW YORK (CNNfn) - Philanthropy is a word synonymous with many wealthy Americans, including John D. Rockefeller. After all, he could easily afford to give it away. At his peak, he was worth an estimated $900 million.
That may not sound like much when compared with Microsoft Chairman Bill Gates and investment guru Warren Buffett, but Ron Chernow, author of Titan, said you have to put it in perspective.
"...In 1913, the entire federal budget was $715 million," said Chernow. "Rockefeller could have single-handedly paid the entire federal budget that year...So he loomed much, much larger in the economy of his day than Bill Gates does today."
Chernow's view of Rockefeller is also the conclusion of a study by American Heritage Magazine. The study measured wealthy Americans against the national economy of their day.
Rockefeller's fortune equaled 1/44 of economic output in 1913. That translates into $189 billion in today's economy. The top five wealthiest Americans of all time and the relative wealth in today's economy are listed in the chart below.
Other living members of the "wealthiest Americans" club include stock market mogul Warren Buffett (ranked 13th) and Microsoft co-founder Paul Allen (ranked 22nd).
Rockefeller may have made the most money, but it was Andrew Carnegie who gave the most away. Among his philanthropic contributions are 2,600 libraries his money built worldwide.
Kenneth Miller, Carnegie's great-grandson, explained why his grandfather felt it so important to give away his money.
"Grandpa 'Negie understood very clearly, I believe, the impact that a library could have in a person's life," said Miller. "After all, the access to just one book can be a life-changing experience -- if it's the right book."
Carnegie believed passionately in education. But perhaps his reasons for donating so much of his wealth can be summed up in another of his beliefs -- that a man who dies rich, dies a disgrace. 
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