This article shows how the major foundations were extremely influential in America's rise to global hegemony over the past century. The leadership of these foundations was part of the eastern foreign policy establishment that initially mobilized support for a globalist, anti‐isolationist agenda and after World War II worked to construct a viable intellectual framework promoting American perspectives in world affairs. The development of foundation leadership in international relations took place in three phases with different emphases, aimed at softening the sharper edges of globalization and elite dominance to retain public legitimacy: 1) shifting American public opinion from the 1920s to the 1950s in favor of liberal internationalism and a strong national government, 2) creating an integrated global elite from the 1950s to the 1970s that could serve as conduits for American interests within the institutions of each nation, and 3) developing democratic reforms in response to neoliberalism after 1980 to gain legitimacy for the international order, in order to sustain the idea that the political and economic systems work for everyone. In this fashion, foundations were able publicly to espouse principles of self‐determination and economic development for every nation, even though their actions paved the way for the continuation of neocolonialism.