As early as 1901, Rockefeller had realized that
Citations (1)
- Titan: The Life of John D. Rockefeller, Sr. whole source · open book
As early as 1901, Rockefeller had realized that he needed to create a foundation on a scale that dwarfed anything he had done so far, and he toyed with the idea of establishing a benevolent trust: “Let us erect a foundation, a trust, and engage directors who will make it a life work to manage, with our personal cooperation, this business of benevolence properly and effectively.” 4 Frederick Gates revived the idea in June 1906 when he wrote to Rockefeller, “I have lived with this great fortune of yours daily for fifteen years.
chapter: CHAPTER 28 - Benevolent Trust