[7] Ford Motor Company was wildly successful, providing substantial dividends, and in 1913, Rackham quit his law practice.

Because Rackham was always cautious with his finances and leery of speculative nature of the stock market, the Great Depression had little effect on his fortune.

Rackham spent the rest of his life as a philanthropist, giving money to children's charities, the University of Michigan, and other causes.

[8][9] Horace Rackham and his wife Mary supported the University of Michigan by donating his law library, sponsoring anthropological expeditions, and underwriting creative arts fellowships.

The fund was to be used expressly "for such benevolent, charitable, educational, scientific, religious and public purposes ... will promote the health, welfare, happiness, education, training and development of men, women and children, particularly the sick, aged, young, erring, poor, crippled, helpless, handicapped, unfortunate and underprivileged, regardless of race, color, religion or station.

In 1925 the Rackham Golf Course, reportedly the first 18-hole course constructed in Michigan, opened to the public[5] A species of Central American lizard, Xenosaurus rackhami, is named in his honor.