Richer Than The Rockefellers: The Mellon Family's Secret Empire

if we were to ask you to name an old money American Dynasty that still has power today it's likely your mind would quickly jump to household names like Rockefeller Morgan or Carnegie and indeed who would blame you those iconic families have their legacy embossed in our very memories with towering skyscrapers like Rockefeller Center legendary concert venues such as Carnegie Hall and banking giants like JP Morgan Chase still in operation today however what if we were to tell you that there is one old money family still pulling the strings of global Finance behind the curtain who is many billions of dollars richer than any Rockefeller Morgan or Carnegie living today indeed the melon family of Pennsylvania has not only been in power as long as any Gilded Age Rober Baron but their living descendants have maintained more wealth than almost any old money Family featured on this channel boasting a staggering Fortune currently estimated at an eye watering $12 billion furthermore melon family member members have had their hands in every stratum of American influence from their patriarch whose decisions as US Treasury secretary LED America to experience both the Roaring 20s and the Great Depression all the way to the current bny melon Bank donning the family's surname which presides over literally trillions of dollars in assets to this very day most assuredly the melon family has it all from a matriarch who changed the face of American Interior Design with her many lavish homes and Sumptuous Estates to a cryptocurrency whiz kid who's been quietly counting billions as US Government Regulators scramble to decide how to handle crypto in today's episode we'll tell you this secret old money banking Dynasty's full unauthorized Journey revealing a legacy that has quietly shaped the very backbone of American Wealth and influence as we describe the melons the secret old money Family richer than the [Music] Rockefellers scratching near the top of the the elite scoreboard of America's richest families the melon family are a little mentioned but a captivatingly formidable Force think of them as a sleeper team in the Super Bowl of American old money affluence and with a jaw dropping 12 billion to their name their bank account is as deep as it is old and in this legendary luxury lineup patriarch Christopher melan assumes the role of quarterback born on the 2nd of October 1957 Christopher's more than just a typical team captain his career resembles a complex jigsaw puzzle blending elements of High Finance and secretive government roles with an unexpected twist his involvement in UFO advocacy adds a layer of mystery and the overall melon family tree while not quite a household name like Rockefeller or Kennedy is as intricately woven and Powerful as a hidden Masterpiece in an exclusive Art Gallery indeed Christopher's lineage is a discret yet powerful roll call of American industrial and banking leaders at the root of this quietly influential family tree stands Thomas melon the original architect of melon Bank an institution that like its Founders has played an incomparably important yet little known role in shaping America's Financial Horizon this Legacy continues robustly with bny melon The evolutionary successor of melon bank and the family's banking Empire Today bny melon stands as a Titan in the financial World showcasing its prowess with a remarkable 22% surge in net income and stewarding a staggering $ 46.9 trillion yes trillion with a t in assets under custody in short that ranks the melon family's brainchild banking Empire as the 13th largest bank in the United States all while managing to be ranked among the world's most admired companies according to Fortune Magazine in 2023 however the melons not content with banking alone have played a game of Twister with various Industries they struck Black Gold when they helped create Gulf oil which eventually became household named Gas Behemoth Chevron in the 1980s and in the steel sector they clanged swords with giants backing Union Steel before it was scooped up by Andrew Carnegie and US steel but as with any truly impressive old money Dynasty their empire didn't stop there their Investment Portfolio reads like an Oscar nominee list for America's most iconic companies including Westinghouse electric Newsweek and General Motors but it's not all about the greenbacks for decades the melon family has also engaged in land conservation efforts the Richard King melon Foundation has notably contributed over 100,000 Aces to Wildlife refugees and in real estate the melons are more than just casual players from the 700 acre Virginia melon estate to Oak Spring Farms a 4,000 acre expanse that was bunny melon's personal Eden they've got the Midas touch in property and let's not Overlook that 27 acre slice of Antiguan Paradise a real estate jewel in the melon Crown additionally in the political Arena family member Timothy melon doesn't just donate he makes waves his $5 million contributions to various political causes and an eye-watering 90 million to Republican campaign since 2018 show he's not shy about backing his beliefs with his wallet however while it's easy to s and bask in the shocking power wealth and influence of this 12 billion old money Leviathan known as the melon family you'd be surprised to learn that they first got their start like so many Americans as immigrants to the country's Shores centuries ago therefore join us as we venture back in time to discover exactly how one Irish immigrant reached the land of the free and the home of the brave to spawn what would become one of America's richest families of all time the melons family's Story begins in the 19th century a time of significant migration with the melons originating from Scotland and later settling in Tyrone Ireland the Gaelic origins of their surname derived from me and mean translated to attractive or little Pleasant one offer a glimpse into the family's Heritage you see during this period County Tyrone located in the northern part of Ireland in the region of ster was key area for Scottish Protestant settlers this migration was part of the ster Plantation a process in which the British government settled Scots in Ireland to establish control over the rebellious Irish provinces one archal melon part of this Scottish Protestant group known as the Scotch Irish began the family's American story in 1816 with many Scotch Irish like the melons immigrating to the United States during this time first establishing themselves in westan County Pennsylvania the family's Legacy would begin in Earnest when in 1818 Thomas melon the future founder of melon bank and first patriarch of the melon Dynasty entered the United States determined to rise above the constraints of his rural Beginnings Thomas melon's life was a journey of ambition and aspiration he vividly recalls in his autobiography the moment at the age of 10 when he first glimpsed wealth and magnificence I had before no conception of a revelation That Came Upon seeing the opulent estate of his future parents-in-law Jacob Negley and Barbara an Negley then inspired at 14 after reading the transformative stories of Benjamin Franklin's autobiography melan resolved to leave farming behind pursuing higher education he entered the University of Pittsburgh then the Western University of Pennsylvania in October 1834 and graduated in 1837 after dedicating 5 years and investing $500 in his his education melan turned to teaching Classics briefly before successfully entering the legal profession he then established his own Law Firm before subsequently being elected as a judge for the alagan County Court of Common Pleas thus Thomas melon's legal Acumen not only enhanced his personal wealth through astute investments in downtown real estate but also positioned him as a reputable attorney for corporations indeed melon's early legal successes were the Bedrock of the family's Financial Empire his investments in LW and real estate were instrumental in the establishment of T melon and Suns a banking house that emerged as the Region's largest by the end of the 19th century Beyond real estate melon also ventured into coal forming a profitable alliance with James B Corey a significant figure in the Pittsburgh coal industry this diversification into real estate and coal was pivotal in his wealth accumulation and by 1869 Thomas melon had yet again pivoted from legal practice to concentrate on his Investments therefore his banking house t- melon and Sons had shrewdly laid the groundwork for what would later become the melon Financial Corporation but Thomas melon's prolific ability to adapt and seiz New Opportunities was but a blip on the radar of what his descendants would be able to accomplish and on a Brisk spring day in March 1855 Thomas's son Andrew would enter into the world to fulfill that destiny Andrew William melon affectionately known as aw was the sixth child born to Thomas and Sarah Jane melon yet tragically only the fourth to survive past infancy and from his earliest years Andrew's life was deeply intertwined with that of his father distrustful of both private and public educational institutions Thomas melan took it upon himself to construct a Schoolhouse specifically for his children appointing a private tutor to oversee see their education thus starting at age five Andrew was educated in this unique setting and this tailor made educational experience combined with a front row seat to his father's Financial expertise undoubtedly helped set the foundation for Andrew's future success in banking and finance now the 1870s saw Andrew furthering his academic Pursuits at his father's Alma mat Western University of Pennsylvania now known as the University of Pittsburgh how ever in a twist of fate Andrew departed without a degree opting instead for the rich lessons of practical experience then in 1873 at only 18 years of age Andrew took a decisive step into the world of banking by joining his father's Bank t- melon and Sons despite his youth he swiftly emerged as a key player exhibiting a sharp Acumen for Banking and finance and his formative years at the bank including witnessing the economic melstrom of the panic of of 1873 had undoubtedly sharpened his economic insight and banking strategy but the year 1876 marked one of the most pivotal moment in Andrew's trajectory as he was granted power of attorney to steer the bank's operations with this power over time Andrew would develop what would be called the melon system of business indeed this was more than a mere strategy it became a comprehensive approach to creating a robust industrial Empire this melons system involved meticulously crafting a network of interconnected Enterprises each supporting and enhancing the others for instance their banking interests provided Financial backing to their industrial Ventures such as the aluminum and oil Industries while their real estate Investments offered physical and infrastructural support indeed this Visionary approach was instrumental in the formation of major corporations such as the Aluminum Company of America Gulf Oil Corporation and Union Steel which eventually merged with United States Steel Corporation now in the same year that Thomas melan gave his son Andrew the power of attorney over the bank 1876 Thomas introduced his son to Henry Clay Frick marking a significant collaboration in American industrial history Frick a key figure in the burgeoning steel industry was establishing the frick family Empire a Monumental force in the industrialization of the United States his involvement in the Cen Steel Industries pivotal for the era's rapid industrial growth made Frick an invaluable Ally for the melons and by 1887 Andrew's Brother Richard B melon had also joined as co-owner and vice president further consolidating family control over the business now during the 1880s Andrew melan in collaboration with Frick took control of the Pittsburgh National Bank of Commerce indeed this was a significant power play for the family as National Banks held the exclusive right to issue Bank notes a crucial Financial tool for Empires like the melons specifically issuing Bank notes allowed them direct influence over the money supply and credit availability vital components in an era of Rapid economic expansion and industrialization furthermore despite the considerable asset transfer from Thomas to Andrew melon their Enterprises remained relatively small leading to what we would call these days a Lean Startup configuration in the melons Empire therefore though T melon and Sons employed just seven individuals in 1895 this small scale suggested a strategic Choice prioritizing meticulous control over rapid expansion laying a solid foundation for future growth however Andrew melon's immense influence was much like many family members not limited to business Acumen founded in 1913 by Andrew and his brother Richard B melon the melon Institute stood as a symb SYM of innovation in scientific research you see the melon Brothers beyond their roles as bankers and Venture capitalists were foresighted in understanding the Synergy between new technologies and established Industries and thus their aspiration to establish a groundbreaking Research Center materialized in this institute now during the same period another educational giant was taking shape the Carnegie Institute of Technology inaugurated in 1900 by legendary industrialist and one-time richest person in the world Andrew Carnegie aimed to mirror the Scottish model of technical education catering to the needs of an industrializing society and this particular School initially serving the educational requirements of workingclass children evolved into a Vital Center for practical education later becoming the Carnegie Institute of Technology or Carnegie Tech the paths of these two institutions next converged in 1960 when discussions about AER merger were initiated by family member Paul melon representing the melon Legacy this historic amalgamation in 1967 led to the formation of Carnegie melon University a fusion that was not just an Institutional merger but also a culmination of the melon's long-standing support leading to the establishment of the melon College of Science and the College of humanities and social sciences in the 21st century CMU is acclaimed for its educational excellence recently ranked number 24 among National universities in the US News and World Report and third for most Innovative schools its International reputation is equally strong with commendable top 30 positions in global rankings by Times Higher Education and Qs World university rankings thus by the 1920s Andrew W melon's financial and culture stature had soared making him one of America's wealthiest and influential individuals however in order to solidify his already prodigious Financial influence he would need to enter into a wholly different realm of power politics in 1921 a pivotal moment in American history unfolded as president Warren G Harding appointed Andrew melon an already legendary figure of significant wealth and influence as the Secretary of the Treasury this role which melon held across a shocking three presidential administrations catapulted him into the line light of national Affairs confronting a substantial federal debt a byproduct of World War I expenditures melan embarked on an ambitious strategy to reform taxation by using an at the time unconventional approach lower tax rates to Spur economic activity thereby boosting tax revenue consequently the revenue acts of 1921 1924 and 1926 materialized melon's Vision resulting in a drastic reduction of the top marginal tax rate from 73 % in 1922 to a mere 24% by 1929 this period witnessed the American economy's roaring Ascension marking the ofall Roaring 20s as an era of unprecedented growth and prosperity however melon's tenure was not without its challenges with the onset of the Great Depression in 1929 his economic policies once celebrated now faced rigorous scrutiny critics emerged as the national debt escalated a new and the 193 30 s marked another turbulent period for Andrew melon with his reputation suffering following the Wall Street Crash he escaped the states to serve as ambassador to Great Britain in 1932 before returning to Private Business his unwavering belief in minimal government intervention and the necessity of economic recessions to purge excesses became contentious topics during this era and a debate that continues to this day meanwhile the 1940s saw Richard King melon Andrew's brother a traditionally emerge as a key figure a military man Richard reactivated his service in 1942 overseeing Pennsylvania's Selective Service System and later joining the war department in Washington DC his contributions which included establishing banks for the armed forces and promoting this is the Army earned him the distinguished service medal and postwar he continued his military involvement in the Army Reserves ultimately attaining the rank of leftenant General but beyond his military Endeavors Richard King melon assumed a prominent role in the melon Dynasty particularly following Andrew melon's passing in 1937 King as he became known eerily aligned with Robert Deniro's Sinister real life character in the recent killers of the flower Moon film started at the bottom of the family Bank in 1920 working as a messenger and assistant cashier and later became its president in 1933 Richard King melon's post-war period was also character characterized by his collaborative efforts with Pittsburgh mayor David L Lawrence together they tackled Urban challenges like flooding pollution and blight initiating large-scale Redevelopment projects that redefined Pittsburgh indeed Richard King melon's Financial clout was instrumental in aligning these projects with new regulatory standards reshaping the city's fabric additionally Richard and his wife Constance prer melon adopted four children Richard P melon Ard proam melon Constance Barber melon and Cassandra melon Milbury all of whom continued to influence the region furthermore in 1947 Richard's establishment of the Richard King melon Foundation marked one of the family's first significant foray into philanthropy the foundation has awarded over 8,000 grants to more than 1,800 different organizations since its Inception however it would be another family member one Paul melon who would live a life that would inextricably tie the name melon to philanthropy and art Paul melon that man who would turn the family name into a word synonymous with philanthropy and art was born on the 11th of June 1907 in Pittsburgh Pennsylvania the son of Andrew W melon Paul grew up in an environment of affluence and opportunity and his Early Education at the Cho School a boarding school whose alumni list includes the of JFK himself laid the foundation for Paul melon's academic Pursuits thereafter melon's thirst for knowledge took him to Yale University where he earned an AB in 1929 followed by another degree from Cambridge University in the UK in 1931 however in a departure from the expected career path in finance Paul melan charted his own course after briefly working at the family's legendary melon Bank Paul realized his heart was set on art and culture Culture by 1936 Paul melan communicated this passion to his father already a patron of the National Gallery of Art and surprisingly gained his financier father's support this led to the commencement of the gallery's construction in 1937 with Paul playing a critical role now the 1950s saw Paul melon's unique leadership style come to the four unlike his father Andrew known for his financial and political prowess Paul focused on the Arts education and the environment supporting numerous institutions including the Pittsburgh Symphony Orchestra and London's Tate Galleries and becoming instrumental in creating the bingan prize for poetry furthermore Rachel bunny melon Paul's wife was no less influential in the cultural and artistic spheres born into wealth and marrying into it bunny was celebrated for her Exquisite taste in art design and horiculture for example she famously redesigned the White House Rose Garden at Jacqueline Kennedy's request and also the East Garden her expertise in gardens was matched by her skill in interior design and art collection working with notable decorators and amassing an impressive collection of art and Porcelain indeed Bunny's style was luxurious yet unassuming reflecting her Discerning Eye for art clothes and interior design soon she became an icon of mid-century style not just through her personal choices but through her contributions to the National Gallery of Art where she and Paul donated over 1,000 European paintings furthermore bunny melon's iconic Homes and Gardens spread across the United States France and the Caribbean were well known as an embodiment of the melon family's luxurious yet unpretentious taste Oak Spring Farm in upperville Virginia a sprawling 4,000 acre property stood out among her Estates though the Interiors of this residence like many of her homes remain AED largely private they were reputed to be extraordinary showcasing melon's confident and refined style another of melon's cherished properties was scallop paath a historic estate on Cape Cod acquired in the early 1970s melon meticulously renovated the 1700's era main house over several years and the estate spanning 7.5 acres and featuring a seven bedroom mainhouse a guest house and exquisitely designed Gardens were shaped by melon's Creative Vision and in New York City melon's flare for design was exemplified by her 11,000 ft 14 room townhouse in the Upper East Side this luxurious property which later sold for $41 million boasted a private garden and was a Showcase of her impeccable taste simultaneously by the 1970s Paul melon had also made a significant Mark in Academia his contributions and influence in this sphere highlighted the melons expansive reach extending Beyond Art and Design to the educational realm for example he transformed the Paul melon Foundation into the Paul melon Center for studies in British art under the Yale Center for British art marking a new chapter in the study of British art and demonstrated Paul's prudent approach to philanthropy and intellectual Pursuits therefore together Paul and Bunny melon left a legacy rich in cultural educational and environmental contributions each defining their ERA with a blend of discernment generosity and a profound love for the Arts however as the 21st century beckoned the melons ever the adapters would be presented with a new set of challenges with the 2008 financial crisis looming and a family member deciding to enter into the Mysterious World of cryptocurrency in the final decade of the 20th century the melon family started to engage dynamically with the burgeon tech industry injecting substantial investments into technology Ventures indeed this pivot was a strategic response to the digital Revolution sweeping the financial world first they renamed melon Bank to melon Financial Corporation and then quickly adapted to globalization through the formation of bny melon this newly minted Financial Powerhouse born formed the merge of melon family's bank and the Bank of New York boasted trillions in assets under management and operations across 35 countries by 2023 and among the recent more trailblazing torchbearers of the family's Dynasty Matthew Taylor melon II and Timothy melon stand out each charting distinct courses while upholding the family's Legacy Matthew Taylor melon II a direct descendant of both the founder of melon Bank Judge Thomas melon and the founder of Drexel University Anthony Joseph Drexel carved out a niche for himself as a billionaire businessman and entrepreneur you see Matthew first made his Mark in the fashion industry in 1999 marrying Tamara melon the co-founder of Jimmy Chu at Jimmy Chu he was instrumental in developing a men's line bringing a fresh perspective to the luxury shoe brand his entrepreneurial Journey further expanded in 2000 with the launch of Harris of London an Innovative Venture that Blended athletic shoe technology with the traditional aesthetic of men's dress dress shoes his fashion Ventures continue to evolve with Hanley melon a women's ready to wear line co-created with then wife Nicole Hanley in 2014 reflecting their Global Travel Inspirations even more unconventionally Matthew's interests extended Beyond fashion to the burgeoning world of cryptocurrencies he invested $2 million in coin Apex a startup incubator focused on bitcoin related businesses demonstrating his interesting in the digital currency space face and he played a pivotal role in the chamber of digital Commerce as its honorary executive committee chairman advocating for digital currency advancement his subsequent investments in cryptocurrency particularly in Ripple resulted in a fortune estimated in the billions highlighting his Acumen in identifying and capitalizing on nent financial Trends and Timothy melon another heir to the melon banking Fortune took an equally Divergent path making significant strides in the railroad industry as the main financier of Guilford Transportation Industries formed in 1977 and named after his hometown of Guilford Connecticut Timothy displayed a strategic approach to business growth in the 80s his acquisition strategy extended to purchasing Rail lines from Maine to Maryland marking his influence in the transportation sector however Timothy melon also engaged in political financing albeit in a less publicized manner despite his reclusive nature of and distance from active politics he emerged as a significant contributor in the 2020 presidential election donating 10 million dollar to the America First action Super PAC aligned with Donald Trump thus the melons while pursuing diverse individual interests have consistently emphasized having an impact that extends beyond their financial Endeavors with significant contributions to the Arts education and conservation thus shaping aspects of American cultural and social Landscapes and now we'd like to see you in the comments which old money family would you like us to cover next we've already done deep Dives on the Rockefellers Morgans asers Rothschilds and now the melons shoot us the old money Dynasty you're most curious about below and be sure to like any comments you see featuring a family you're interested in we look forward to seeing you there and cheers until next time

Channel: Old Money Luxury

Views: 100,141

Keywords: luxury, old money, wealthiest families, rich people, wealthy families, wealthiest families in america, luxury lifestyle, rich people lifestyle, old money luxury, mellon family, carnegie mellon, mellon family documentary, wealthy family documentaries, old money documentary, old money families, old money families in the us, finance documentary, bny mellon, banking documentary, finance, wealth, americas wealthiest families, american wealth documentary, rockefellers documentary

Id: zP8hhSaBLeI

Length: 28min 54sec (1734 seconds)

Published: Mon Jan 08 2024