Mispelling from John Davison Rockefeller a rich american industalist 1939-1937, and is commonly used to describe a person of considerable wealth.
In the song on the sunny side of the street by Dorothy Fields & Jimmy McHugh, 1929, the lyrics go
If I never had a cent,
I'd be rich as Rock - e - fel - ler,
Gold dust at my feet
Or "look at you rockafella" - implying someone been lavish.
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