It was founded in New York City in 1940 as the primary philanthropic vehicle for the five third-generation Rockefeller brothers: John, Nelson, Laurance, Winthrop and David.

The Rockefellers are an industrial, political and banking family that made one of the world's largest fortunes in the oil business during the late 19th and early 20th centuries.

[7] In September 2014, the Rockefeller Brothers Fund announced that it planned to divest its assets from fossil fuels.

[8] On disinvesting from fossil fuels, the president of the Rockefeller Brothers Fund, Stephen Heintz, said: "We see this as both a moral imperative and an economic opportunity" (30 September 2014).

[10] From 1956 to 1960, the Fund financed a study conceived by its then president, Nelson Rockefeller, to analyze the challenges facing the United States.