Though his charitable contributions did not get the same type of press as his philanthropic counterparts, Julius Rosenwald, alongside Andrew Carnegie and John D. Rockefeller, was a businessman who permanently shaped the concept of philanthropy as we understand it today, according to the Wall Street Journal.
A modest and non-controversial man, Rosenwald made his fortune investing in Sears when it was still a fledgling company in need of cash. Pulling from Hasia R. Diner’s Julius Rosenwald: Repairing the World, the WSJ points out that Rosenwald quickly amassed his fortune, then donated what would be approximately $2 billion today to issues he found important. These included many projects in Chicago, as well as the prioritization of funding for African-American primary and secondary education in the South.
Why haven’t you ever heard of him? Diner notes he insisted upon his foundation’s closing after his death; he also opposed putting his name on projects. For anyone considering philanthropic work, the WSJ suggests: “Peruse Ms. Diner’s biographical portrait and study Julius Rosenwald’s noble example.”
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