Sarah Scaife Foundation

The Sarah Scaife Foundation is financed by the Mellon industrial, oil, and banking fortune. At one time, its largest single holding was stock in the Gulf Oil Corporation. The foundation became active in funding conservative causes in 1973, when Richard Mellon Scaife became chairman. Forbes magazine has estimated Scaife's personal net worth at $800 million, making him the 138th richest person in the U.S. He controls the Scaife, Carthage, and Allegheny foundations. In 1993, Scaife and Carthage reportedly gave more than $17.6 million to 150 conservative think tanks. As of December 31, 1992, Scaife assets were $212,232,888 and Carthage assets were $11,937,862.