Rosenwald’s success as a businessman and executive was matched by his many accomplishments as a philanthropist and humanitarian. Rosenwald married Augusta Nusbaum, of Chicago, on April 8,1890.
Under his leadership, Sears developed its lucrative nationwide mail-order business, established savings and profit-sharing plans for employees, and became America’s largest retailer. He served Sears, Roebuck successively as vice president (1895-1910), president (1910-1924), and chairman of the board (1924-1932). After Sears, Roebuck & Company moved its headquarters to Chicago in 1893, Rosenwald was asked to become a partner in the company. In 1885, Rosenwald came to Chicago, where he joined his cousin Julius Weil to operate Rosenwald & Weil, a retail men’s clothing store. Rosenwald was educated in the public schools in Springfield, and in 1879 began his business career with Hammerslough Brothers, wholesale clothiers in New York City. Julius Rosenwald was born on August 12, 1862, to Samuel and Augusta Rosenwald, both Jewish immigrants from Germany, in Springfield, Illinois. His creation of the Julius Rosenwald Fund as a self-expiring entity, ending with his demise, established new criteria for philanthropy.īiography (from University of Chicago Library Biographical Notes)
He is credited with donating more than $65 million to various causes, including creating settlements for Jews in Russia, constructing over 5,000 schools for African-Americans in the South, and building 25 Young Men’s Christian Association (YMCA) facilities and three Young Women’s Christian Association (YWCA) facilities to serve African-American communities. His fortune was amassed during a career that culminated in his presidency of Sears, Roebuck & Company, and was used to create programs that addressed inequality in the education of Jewish and African-American populations. Julius Rosenwald (1862-1932) utilized his fame and fortune for the benefit of humankind through his practice of philanthropy.
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