Richard B. Mellon
Richard Beatty Mellon | |
|---|---|
| Born | Template:Birth date |
| Died | December 1, 1933 (aged 75) |
| Occupation(s) | Banker, industrialist, philanthropist |
| Known for | President of Mellon Bank, founder of Rolling Rock Club, philanthropy in Pittsburgh |
Richard Beatty Mellon (born March 19, 1858 – died December 1, 1933), often referred to as R.B., was a prominent banker, industrial leader, and philanthropist based in Pittsburgh. He was a direct descendant of the Mellon family founder, Thomas Mellon.
Biography
Together with his brother Andrew Mellon, both sons of Judge Thomas Mellon, Richard frequently collaborated in various business ventures. He worked alongside Andrew at Mellon Bank, ascending to the role of president in 1921 when Andrew assumed the position of Secretary of the Treasury. Their joint philanthropic efforts were substantial, particularly benefiting their alma mater, the University of Pittsburgh, including the establishment of the Mellon Institute of Industrial Research, which is now integrated into Carnegie Mellon University.
From 1899 until 1910, R.B. presided over the Pittsburgh Reduction Company—later renamed Aluminum Company of America (Alcoa) in 1907—and maintained significant stakes in the Pittsburgh Coal Company, presently part of CONSOL Energy. During his tenure there, he dealt with labor conflicts involving the United Mine Workers. Subsequently, he played a key role in founding Mellbank Corporation, a banking holding company that fortified associated banks during the challenges of the Great Depression.
In 1918, he spearheaded the creation of the Citizens' Committee on City Plan to promote urban planning and zoning initiatives within Pittsburgh. The Air and Waste Management Association commemorates achievements in pollution control through the Richard Beatty Mellon Award named in his honor.
In 1931, together with C.C. Macdonald, he gained ownership of Idlewild Park located in Ligonier, Pennsylvania. Additionally, he was the founder of the Rolling Rock Club.
Much of Mellon's charitable giving was directed toward religious institutions. In 1926, he endowed a $15 million pension fund designated for Presbyterian clergy. Alongside his wife, Jennie Taylor King, he contributed significantly to the construction of the Cathedral of Hope, which serves as the home for the East Liberty Presbyterian Church. Mellon passed away in 1933 prior to its completion. The $13.3 million estate tax generated from his death provided considerable support for state government payrolls.
His legacy was inherited by his children, Sarah Mellon and Richard King Mellon, as well as cousins Paul Mellon and Ailsa Mellon-Bruce.