Rosenwald << ROH zuhn wawld, >> Julius (1862-1932), was an American businessman and philanthropist. He contributed about $63 million to education for African Americans, to Jewish philanthropies, and to a wide range of educational, religious, scientific, and community organizations and institutions. Rosenwald established the Museum of Science and Industry in Chicago, Illinois. It is the largest and most popular science and technology museum in the United States.
Rosenwald once said it was easier to make $1 million honestly than to give it away wisely. He tried to aid groups rather than individuals and to make his gifts in such a way as to stimulate contributions from others. He donated money through the Julius Rosenwald Fund and made other separate donations. He disliked perpetual endowments and ordered that all of the Julius Rosenwald Fund be spent within 25 years of his death. Perpetual endowments are funds that are invested in such a way that the endowment grows over time.
Rosenwald helped fund the building of over 5,300 primary schools for African Americans in 15 Southern States from 1913 to 1932. Primary schools are those serving children in the first three grades. Generations of African American children attended these schools until they closed in the 1960’s.
Rosenwald was born on Aug. 12, 1862, in Springfield , Illinois. He was also educated there. He entered the clothing business at age 17 and joined Sears, Roebuck and Co. in 1895. He was president of Sears from 1908 to 1924. Rosenwald served as chairman of the board of Sears until his death on Jan. 6, 1932.
