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He left the pulpit to become the secretary (chief executive officer) of the newly formed ''American Baptist Education Society''; he was a master organizer and fund-raiser. Gates championed a Baptist university in Chicago to fill a void that existed in Baptist education. On January 21, 1889 he met with John D. Rockefeller, a lifelong Baptist. Rockefeller approved Gates' funding plans for the reorganized [[University of Chicago]]; and poured tens of millions into the school, creating one of the world's great universities overnight. Gates served for many years as a trustee on the UC board.   

He left the pulpit to become the secretary (chief executive officer) of the newly formed ''American Baptist Education Society''; he was a master organizer and fund-raiser. Gates championed a Baptist university in Chicago to fill a void that existed in Baptist education. On January 21, 1889 he met with John D. Rockefeller, a lifelong Baptist. Rockefeller approved Gates' funding plans for the reorganized [[University of Chicago]]; and poured tens of millions into the school, creating one of the world's great universities overnight. Gates served for many years as a trustee on the UC board.   

Gates became Rockefeller's key philanthropic and business adviser, working out of [[Standard Oil Company]] headquarters at 26 Broadway, New York. Gates oversaw Rockefeller's investments in a series of investments in many companies, but not in his personal stock in Standard Oil.  From 1892 onward, faced with his ever expanding investments and real estate holdings, Rockefeller recognized the need for professional advice and so he formed a four-member committee, later including his son, [[John D. Rockefeller, Jr.]], to manage his money, and made Gates its head and as his senior business adviser.  Gates steered Rockefeller money predominantly to syndicates arranged by the investment house of [[Kuhn, Loeb & Co.]], and, to a lesser extent, the house of [[J. P. Morgan]].<ref>Chernow, ''Titan'' 1998. pp.372-73</ref>  Gates served on the boards of many companies in which Rockefeller had a majority shareholding; Rockefeller at that time held a securities portfolio of unprecedented size for a private individual. Rockefeller himself regarded him as the greatest businessman he had encountered in his life<ref>Chernow. p. 370</ref>

Gates became Rockefeller's key philanthropic and business adviser, working out of [[Standard Oil Company]] headquarters at 26 Broadway, New York. Gates oversaw Rockefeller's investments in a series of investments in many companies, but not in his personal stock in Standard Oil.  From 1892 onward, faced with his ever-expanding investments and real estate holdings, Rockefeller recognized the need for professional advice and so he formed a four-member committee, later including his son, [[John D. Rockefeller, Jr.]], to manage his money, and made Gates its head and as his senior business adviser.  Gates steered Rockefeller money predominantly to syndicates arranged by the investment house of [[Kuhn, Loeb & Co.]], and, to a lesser extent, the house of [[J. P. Morgan]].<ref>Chernow, ''Titan'' 1998. pp.372-73</ref>  Gates served on the boards of many companies in which Rockefeller had a majority shareholding; Rockefeller at that time held a securities portfolio of unprecedented size for a private individual. Rockefeller himself regarded him as the greatest businessman he had encountered in his life<ref>Chernow. p. 370</ref>

Gates focused exclusively on philanthropy after 1912. He moved Rockefeller from doling out retail sums to specific recipients to the wholesale process of setting up well-funded foundations that were run by experts who decided what topics of reform were ripe. In all Gates supervised the distribution of about a half-billion dollars.  Although Rockefeller himself believed in folk medicine, the billionaire listened to his experts, and Gates convinced him that he could have the greatest impact by modernizing medicine—especially by reforming education, sponsoring research to identify cures, and systematically eradicating debilitating diseases that sapped national efficiency, like hookworm.  

Gates focused exclusively on philanthropy after 1912. He moved Rockefeller from doling out retail sums to specific recipients to the wholesale process of setting up well-funded foundations that were run by experts who decided what topics of reform were ripe. In all Gates supervised the distribution of about a half-billion dollars.  Although Rockefeller himself believed in folk medicine, the billionaire listened to his experts, and Gates convinced him that he could have the greatest impact by modernizing medicine—especially by reforming education, sponsoring research to identify cures, and systematically eradicating debilitating diseases that sapped national efficiency, like hookworm.