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# Oil Magnate Rockefellers Switching Investments To Clean Energy

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<!-- video src="https://cdn.jwplayer.com/manifests/FxjdpD4V.m3u8" -->
## Video: Oil Magnate Rockefellers Switching Investments To Clean Energy

[Watch (HLS stream): Oil Magnate Rockefellers Switching Investments To Clean Energy](https://cdn.jwplayer.com/manifests/FxjdpD4V.m3u8) (1:14)

![Oil Magnate Rockefellers Switching Investments To Clean Energy](https://cdn.jwplayer.com/v2/media/FxjdpD4V/poster.jpg?width=720)

_Published 2014-09-22. The Rockefellers — heir to an oil fortune that made the family name a symbol of American wealth — believe they’re doing their namesake proud by getting out of oil._


---

Jul 27, 2023 5:16 PM UTC

---

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[Time-lapse: The Rockefeller Christmas Tree Rises and Lights](/video/T6DSbRkE/)

### Time-lapse: The Rockefeller Christmas Tree Rises and Lights

---


## Transcript

The Rockefeller's, heir to an oil fortune that made the family name a symbol of American wealth belive their doing their namesake proud by getting out of oil. The families philanthropic organization the Rockefeller Brothers Fund announced Monday it would divest it's 860 millions dollars in holdings of anything fossil fuel related, the fund will instead move that money over to cleaner alternatives in renewable energy. Fund director Steven Hines spoke reverently of oil tycoon John D Rockefeller in a statement. We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy.

Rockefeller's standard oil grew to become the. First dominant US business trust in the late 19th century, and the family's wealth and charitable work became legendary worldwide. The announcement came in conjunction with the United Nations summit in New York to discuss Climate Change, beginning Tuesday which has already drawn hundreds of thousands in a march calling for lower carbon emissions. The Rockefellers, and others who've divested from fossil fuels, don't appear to hold any misconceptions their money will have an immediate impact on an industry with huge profit margins, but the groups say they hope to inspire international debate on renewable energy.

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