BREAKING NEWS: Billionaire Banking Boss David Rockefeller Dies Aged 101

US banker and philanthropist David Rockefeller died at the age of 101 on Monday, his family said.

Renowned for his association with Chase Manhattan bank, Rockefeller was chairman and chief executive of the lender during the 1970s.

Rockefeller was the only surviving grandson of tycoon John D., synonymous with the foundation in the 19th century of Standard Oil, a company that led to him being the first US billionaire. His father, John D. developed the famous Rockefeller Centre in New York.

At times Rockefeller caused controversy, not least by pushing for trade talks with China and the Soviet Union during the Cold War.

He founded the Trilateral Commission in 1973 to foster relations between North America, Japan and Western Europe and was a target of the far-right and conspiracy theorists who said it was trying to create a one-world government.

A spokesperson for the family said he had died in his sleep of heart failure at his home in Pocantico Hills, New York.