John D. Rockefeller, the American tycoon and founder of the Standard Oil Company, is famous for his wealth.
In the 1890s, when the average person in the US made less than $10 a week, Rockefeller earned a whopping $10 million a year!
In addition to being a shrewd businessman, Rockefeller was known for being parsimonious (see definition and hear pronunciation below) with his great wealth, spending as little as possible in his daily life.
What he saved in living expenses, however, he spent on philanthropy–Rockefeller donated $540 million during his lifetime to create two universities, fund medical research and reduce poverty in the US.
That’s quite a legacy!
Cool word vocabulary question of the day: Can you think of any philanthropists today who aren’t parsimonious about giving to charity?
Parsimonious: Excessively frugal; unwilling to spend money; stingy.
Click here to hear a pronunciation of parsimonious.
https://coolwordclub.com/wp-content/uploads/parsimonious.mp3
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