Banker and philanthropist David Rockefeller has died at the age of 101.

The former-presidential adviser died of congenital heart failure on Monday, a family spokesperson said.

Fraser Seitel, a spokesperson for the family, said the former chairman and chief executive of Chase Manhattan Corporation died peacefully in his sleep at his home in Pocantico Hills, in New York state.

Mr Rockefeller was the last surviving grandson of John D Rockefeller, the tycoon who founded the Standard Oil Company in the 19th century and built a fortune that made him America’s first billionaire and his family one of the richest and most powerful in the country’s history.