"If we had thought about how to make a lot of money we would have chosen Chicago," Rogge said as the body would down the Olympic movement's XIIIth congress.
"Money is not what drives IOC members when it comes to choosing a host city," he concluded.
Rio won Friday's vote with Chicago, despite the in-the-flesh support of President Barack Obama, eliminated in the first round of voting.
The Brazilian metropolis will thus become the first ever South American city to stage the jamboree after also seeing off Madrid and Tokyo.