Jacob Schiff
Retail magnate Julius Rosenwald donated a large amount of money to support the education of African-Americans. Jacob Schiff provided funds to help new Jewish émigrés from Russia and Europe settle in the United States. Marvin Perry quotes Jewish banker Otto Kahn as justifying his philanthropy by saying "I must atone for my wealth". Jerry Muller suggests that the Jewish inclination for philanthropy is partially due to a desire to offset resentment that may be felt by those not as wealthy.