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$10 million
- Edith McCormick lost a great deal of money in the stock-market crash of 1929 and collapse of the real-estate market, and died in 1932 with a fortune estimated at only $10 million, one quarter of its original figure.
Feb 2, 2022 · One of these is a woman named Edith Rockefeller McCormick, who lived from 1872 to 1932 and deserves, correctly writes the author of a new book about her life, that, “Had Edith been male, her ...
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Edith put her money and her reputation up front, providing huge sums to purchase property and run the business while allowing her partners, Edwin Krenn and Edward Dato, to oversee daily management. Krenn & Dato’s reassuring slogan was “The Mark of Security” and it always bore the tagline, “Exclusive Agent for Mrs. Rockefeller McCormick Properties.”...
Tuesday and Friday evenings found the partners on the State Street sidewalk, ushering potential salespeople into an auditorium for a free educational session. Complimentary refreshments and entertainment lured new recruits by the dozens. The Krenn & Dato Real Estate School of Salesmanship offered not only promises of large paychecks and improved se...
Full-page ads in daily newspapers attracted both new sales associates and buyers. One, headlined “I Represent the Firm of Krenn & Dato” in 28-point type, underscored the firm’s commitment to employing salespeople of honesty and high character. Krenn & Dato also made clear that they welcomed women into their ranks and tried to involve them in every ...
The annual Krenn & Dato banquet was a fancy affair, taking place in the Drake Hotel ballroom and offering live entertainment, dancing, a multicourse meal and inspirational speakers. Just the novelty of being in the same room with Edith was a boon, and the event was often covered in the papers. Salespeople vied for the “Top-Notcher” awards presented...
Those “Top-Notchers” were featured in the Krenn & Dato monthly newsletter, which also included information on new projects, tricks of the trade, how to get involved in the firm’s baseball league and even its own comic strip. Cheekily named cartoon character “Iona Lott” provided real estate humor and helped create a workplace culture.
The firm’s biggest endeavor was an 1,800-acre enterprise outside of Kenosha encompassing more than 3.5 miles of lakefront property. Here, Krenn & Dato planned a utopian community featuring mansions, recreational facilities, a marina, an airport and what Edith called a National University campus — a recharging spot for educators providing summer lea...
Despite Krenn & Dato’s incredible growth and success, John D. Rockefeller was not impressed. Thoroughly traditional in his gender expectations, he warned Edith repeatedly to get out of the business. She failed to heed his warnings and pushed on, even when the real estate market began to falter in 1927. Annual profits quickly turned into severe loss...
Nov 4, 2023 · Eons before the heavens sent us Elon Musk, the richest man in the world—and arguably the richest of all time—was John D. Rockefeller. When a daughter of John D.’s married Harold Fowler McCormick, son of International Harvester Founder Cyrus McCormick, the appropriate street address for the golden pair was a mansion that sat on spacious ...
Sep 26, 2012 · Edith Rockefeller McCormick. Edith Rockefeller was the daughter of Standard Oil tycoon John D Rockefeller, and older sister of John D. Rockefeller, Jr. Her relationship with her father was tempestuous at best, as her extravagance and exuberance were at odds with his own, frugal, abstemious ways. Edith married Harold Fowler McCormick, a son of ...
At 23, she married the heir to the McCormick reaper fortune, Harold McCormick, and moved to Chicago. Rebelling against the frugality that so preoccupied Senior, Edith spent her money freely.
Oct 21, 2020 · Posted on: October 21, 2020. Buy Now on Amazon. This is a fascinating, well-researched book about the life of John D. Rockefeller’s most intelligent, creative and misunderstood child. Edith was the fourth of five children born into the richest family of the day in 1872.
In 1923 she organized the Edith Rockefeller McCormick Trust, capitalized with a five-million-dollar contribution from her and $1,500 apiece from Chicago realtors Edwin D. Krenn and Edward...
