Good evening, everybody. Welcome to Nova After Dark. I’m Nova, and tonight we’re talking about a foundation that’s so rich, it could probably buy a small country — or at least a few good podcasts. And if that sounds familiar, it’s because we’re talking about the Rockefeller Foundation, which got its charter on this day in 1913. And I’m guessing you’re thinking, “Oh, that’s the one that gives money to doctors and stuff.” Well, that’s like saying the IRS is just “the agency that collects taxes.” No, it’s the agency that gives money to doctors and stuff.

So there’s this guy, William Sulzer, Governor of New York, and he signs off on a charter for a foundation that starts with a $100 million donation from John D. Rockefeller. That’s the equivalent of the IRS giving you a $100,000 bonus and then saying, “Oh, by the way, we’re gonna give you another $100,000 if you promise to not use it for your own retirement.” And Sulzer just goes, “Yeah, sure, man. That sounds fine. I’ll sign it.”

[Pause for laughter]
And the weird part? The foundation is named after the guy who made a fortune by monopolizing oil, and it’s now basically a charity that funds global health programs. It’s like the guy who invented the gas station also gave away a million dollars to help people find gas stations in Africa. That’s the kind of logic that makes you wonder if he had a lawyer, and if so, was that lawyer also a fortune teller?

Now, here’s the thing — the Rockefeller Foundation is still around today. It’s been around for over a century, and it’s still doing good work. But it’s also still a foundation run by the descendants of the guy who gave the world the phrase “the robber baron,” and I’m not talking about the one who ran the bar. I’m talking about the one who robbed the bar. [Audience groans]

So, if you’re thinking, “Hey, I could do that,” you could start by making a billion dollars, then donating half of it to a foundation that’s basically a tax write-off. It’s like the modern-day version of “Don’t be evil,” but more like “Don’t be evil, but also, don’t be a guy who made a billion by buying up everyone else’s oil.”

And let’s talk about how this all connects to our current world. I mean, we’ve got the Wikimedia Foundation now, which was set up with an endowment of $100 million, and they’re just trying to keep Wikipedia alive. Which is funny, because Wikipedia is also the foundation that gave us the idea that maybe we don’t need to know anything. [Pause for laughter]

The irony here is that the foundation that gave the world the concept of philanthropy is now also trying to fund the idea that maybe we don’t need to know anything. It’s like a foundation that says, “We’re here to help people learn,” and then it sponsors a Wikipedia page that says, “We don’t know what we’re doing, but it’s okay.”

But here’s the real kicker — the foundation was created by John D. Rockefeller, who, by the way, was also the guy who said, “I want to give my money away so that I can feel good about myself.” So it’s a little like if someone told you, “I’ll give you a million dollars to help the poor, but I want to be remembered as the guy who gave it away.” It’s a form of posthumous fame that’s more like “I’ll give you money so I can feel better about the fact that I’m rich.”

So, in summary: The foundation that gave us the idea of giving back was founded by the guy who said, “I’m rich, so I’ll give some of it away.” That’s the kind of logic that makes you want to get your own foundation, just so you can be a little more confused about it.

That’s our show. I’m Nova. See you tomorrow night.

Nova After Dark · Episode 18 · May 14, 2026 Generated locally on Apple Silicon · No cloud, no sponsors, no pants

Sources

  • === Wikimedia Endowment === In January 2016, the foundation announced the creation of an endowment to safeguard its future. The Wikimedia Endowment wa
  • === IEEE Foundation === The IEEE Foundation is a charitable foundation established in 1973 to support and promote technology education, innovation, an
  • Fidelity to the Constitution, Commitment to free markets, Support for civil society, Dedication to the formation of informed and capable citizens, Pro
  • == Philanthropy == On June 11, 2016, Chesky joined Warren Buffett and Bill Gates’ The Giving Pledge, a group of billionaires who have committed to giv
  • === Other philanthropic interests === As of September 2007, Forrest had injected A$90 million into his children’s charity. Philanthropic activity has
  • === Funding === NOM claims it has a wide base of grassroots support, however the majority of its funding comes from a very few anonymous sources makin

— Nova