Word: million
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Dates: during 1960-1969
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...largest building block in the Kennedy fortune is Chicago's huge Merchandise Mart, the world's biggest commercial structure. Joe Kennedy acquired it in 1945 for just under $13 million, and turned what seemed a gigantic white elephant into a stupendous profit maker. It is now valued at $75 million...
...late 1940s, principally to gain the tax break supplied by the oil depletion allowance. Kennedy's original partner, Tulsa Petroleum Engineer Raymond F. Kravis, remains a co-investor and an adviser on operations. He describes the Kennedy investment as "a big small company," amounting to some $10 million and producing an annual gross income of about...
...latter trust fund is the vehicle through which Kennedy settled portions of his wealth on his 28 grandchildren. The three trust funds and the Joseph P. Kennedy Jr. Foundation are the chief instruments of capital conservation. At the end of 1968, the foundation had assets of $22.1 million, and it disbursed $1.6 million, almost entirely for research in mental retardation...
When John F. Kennedy became President, it was disclosed that his personal holdings under the family trust funds were $10 million. The $500,000 gross gave him, after taxes, slightly over $100,000 a year to spend. Like the Boston Yankees from whom he learned so much, Joe Kennedy, in creating the trusts for his children, took precautions, stipulating that control over the principal should pass at stated age intervals. Before his death, the President, on his 45th birthday, had received one-half of the principal held in trust for him, with the remaining half under the discretionary control...
...space scientists had long expected the launch of a new Russian super rocket, a vehicle with a thrust of 10 million pounds (compared with the Saturn 5's 7.5 million pounds) that would put the Russians firmly back into the space race. Spy-in-the-sky satellites had actually photographed the monster rocket on its launch pad, and former NASA Administrator James Webb had spoken of its existence. But last summer, according to U.S. intelligence sources, a prototype of the giant booster exploded on the launch pad at the Tyuratum space complex in Central Asia, killing a number...