| Birth: | Mar. 19, 1879
Lockport
Niagara County
New York, USA | | Death: | Oct. 15, 1950
Centreville
Queen Anne's County
Maryland, USA | 
Businessman, Political Leader, Philanthropist. Educated at Bryant and Stratton Business Institute, in 1900 he was hired as Pierre DuPont's private secretary. In 1914 DuPont became DuPont Company President, and Raskob became Treasurer. Raskob facilitated the DuPont purchase of a stake in General Motors and creation of General Motors Acceptance Corporation (GMAC) in the early 1920s, revolutionizing the car industry by enabling customers to buy on credit. By 1928 his fortune was over $100 million ($1.2 billion in 2009). Opposed to Prohibition, he contributed to pro-repeal groups and supported Alfred E. Smith. In 1928 Smith, the Democratic presidential nominee, selected Raskob as Democratic National Committee Chairman, and he helped the DNC achieve near-parity with Republicans in campaign funding. He became a symbol of the Great Depression when he gave a magazine interview, "Everybody Ought to be Rich" just two months before the 1929 stock market crash. He liquidated during the Great Depression, using part of the money to build the Empire State Building. Convinced that markets needed to operate unfettered to end the depression, he opposed Franklin Roosevelt and the New Deal. In 1934 he was a founder of the Liberty League, which opposed expansion of the federal government. After Roosevelt's 1936 reelection Raskob devoted his life to philanthropy, including creation of foundations that support Catholic activities, for which he was named a Knight of Saint Gregory by Pope Pius XI. Archmere, his Claymont, Delaware home, is a Catholic preparatory school, Archmere Academy, and listed on the National Register of Historic Places. (bio by: Bill McKern)
Family links:
Spouse:
Helena Springer Green Raskob (1884 - 1963)*
Children:
Benjamin Green Raskob (1922 - 2009)*
*Calculated relationship
Search Amazon for John Raskob | | | Burial:
Cathedral Cemetery
Wilmington
New Castle County
Delaware, USA |
Maintained by: Find A Grave
Originally Created by: Bill McKern
Record added: Oct 18, 2009
Find A Grave Memorial# 43243805 |
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