Death and Legacy
When du Pont died in 1935 in Jacksonville, Florida at age 70, his estate was valued at over $56 million, which, after estate taxes of $30 million, left $26 million.
The vast majority of his fortune was left in testamentary trust with Ball du Pont named as the principal trustee with complete discretion regarding use of any money, but in reality, she deferred business decisions to her brother, who took control of the assets, which included the large Florida landholdings of the St. Joe Company and industrial interests, including the Florida East Coast Railway. Ball du Pont preferred to handle the philanthropic activities of the trust while Edward concentrated on making money. The fortune did not become a charitable trust until Jessie's death in 1970, which explains why $30 million in estate taxes were paid in 1935. The Alfred I. duPont Testamentary Trust's charitable beneficiary is the Nemours Foundation, which runs children's medical facilities in Delaware and Florida.
The trust was valued at $72.5 million in 1939; $2 billion in 1981; $4.5 billion in 2006.
Both Nemours and Epping Forest have been restored to their original splendor. A public school in Jacksonville, Florida is named after him. The Alfred I. duPont Middle School is located not far from his Epping Forest estate.
Alfred du Pont was designated a Great Floridian by the Florida Department of State in the Great Floridians 2000 Program. A plaque attesting to the honor is located at the entry gate to the Epping Forest estate in Jacksonville.
Read more about this topic: Alfred I. Du Pont
Famous quotes containing the words death and, death and/or legacy:
“Sinks to the deep abyss where Satan crawls
Where horrid Death and Despair lies.”
—Thomas Traherne (1636–1674)
“Within the hollow crown
That rounds the mortal temples of a king
Keeps Death his court, and there the antic sits,
Scoffing his state and mocking at his pomp,
Allowing him a breath, a little scene,
To monarchize, be feared, and kill with looks.”
—William Shakespeare (1564–1616)
“What is popularly called fame is nothing but an empty name and a legacy from paganism.”
—Desiderius Erasmus (c. 1466–1536)