NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, October 3, 2014

Judith Rodin is the president of the Rockefeller Foundation, which means she’s in charge of giving away one of America’s historic fortunes. One problem: “As rich as Rockefeller” doesn’t mean quite what it once did. The foundation ranks only 16th in assets among U.S. charities, according to the Foundation Center.

Today’s Rockefeller fortune is a shadow of the one that built the University of Chicago and Spelman College, created Rockefeller University and sprinkled Rockefeller Halls across college campuses. A century of giving money away has taken its toll. The Rockefeller Foundation had just $3.7 billion at the end of 2012, vs. $37.2 billion for the No. 1 Bill & Melinda Gates Foundation, the Foundation Center says. (Rockefeller Foundation spokesman Neill Coleman says assets have since grown a bit, to $4.1 billion.)