Tuesday, 02 January 2024 12:17 GMT

US Celebrates National Philanthropy Day - Who Are America's Biggest Donors To Charity?


(MENAFN- Live Mint) As the United States celebrates National Philanthropy Day-a day to commemorate the contribution of philanthropy to individuals, communities, and the world-here's a look at America's most generous philanthropists. The wealthiest philanthropists in the US have donated $241 billion over their lifetimes, yet their combined wealth has grown even faster, reaching $1.6 trillion, according to a Forbes report.

While this is a significant contribution to society, it makes up only 15% of their total wealth, the lowest percentage since tracking started in 2021.

Some social benefactor, like Warren Buffett and George Soros, lead in total donations and strategic giving. Others, including Jeff Bezos and Mark Zuckerberg, donate a smaller portion of their fortunes despite public attention.

Warren Buffett leads the list with $62 billion donated throughout his lifetime - that is 30% of his wealth - to primarily the Gates Foundation and his children's foundations. George Soros has given away the highest percentage of his wealth at 76%, focusing on democracy and education across the world. MacKenzie Scott has given away $19.25 billion over six years, often with no restrictions. Jeff Bezos, though having given away $4.1 billion, has contributed the smallest share of his wealth at only 1.6%. Other billionaires on the top donors list include Bill and Melinda Gates, Michael Bloomberg, Mark Zuckerberg & Priscilla Chan, and Steve & Connie Ballmer.

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A few billionaires in the year 2025 are reshaping modern philanthropy by leveraging their good fortune to solve pressing global problems like education, health, climate change, and poverty. These ultra-donors are pioneering groundbreaking initiatives to make the world more equitable and sustainable.

Warren Buffett & family

Warren Buffett has donated $62 billion in his lifetime; that's 30% of his net worth, which is $146.7 billion. He seems to do most of his giving through the Gates Foundation and his kids' foundations, with a focus on health and poverty alleviation. At age 94, he continues to give billions of Berkshire Hathaway stock every year in a pretty systematic fashion.

Bill Gates & Melinda French Gates

Altogether, Bill and Melinda Gates have donated $47.7 billion, or 26% of their combined net worth of $108.6 billion. Through the Bill & Melinda Gates Foundation, their philanthropy has a strong focus on global health and poverty. Melinda also focuses on women's empowerment and social equity through Pivotal Ventures.

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George Soros has donated $23 billion or 76% of his net worth, estimated at $7.2 billion, toward the advancement of democracy, human rights, and education. His giving is toward very long-term social change, especially for marginalized communities.

Michael Bloomberg

Michael Bloomberg has given $21.1 billion, 17% of his net worth of $104.7 billion, to philanthropy. He has focused his gifts on three areas: climate action, health, and education. He notably bankrolled Johns Hopkins University to make its medical school tuition-free and fills gaps in international climate agreements.

MacKenzie Scott

MacKenzie Scott has given $19.25 billion, 36% of her $33.6 billion net worth. She gives quickly, at scale, and using unrestricted grants to meet urgent needs in education, housing, and economic equity. She emphasizes trust-based philanthropy and innovative impact investing.

Marilyn Simons & family

Marilyn Simons and her family have donated $9.4 billion, which is 23% of their net worth of $31 billion. They focus on science, math, and climate change, supporting research, education, and technology-driven solutions.

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Mark Zuckerberg and Priscilla Chan have donated $5.1 billion, just 2.1% of their $232.8 billion net worth. Among their causes: science and education, including state-of-the-art research centers like the Chan Zuckerberg Biohub. They leverage technology and AI to amplify their giving.

Steve & Connie Ballmer

Steve and Connie Ballmer have given $4.99 billion, 3.7% of their net worth of $130.1 billion. The Ballmers' philanthropy focuses on economic mobility, climate initiatives, and disaster relief. The Rainier Climate entity advances environmental action, while targeted giving supports local communities.

Jeff Bezos

Jeff Bezos has given $4.1 billion, 1.6% of his net worth of $251 billion. His top causes include the Bezos Earth Fund for climate, the Day 1 Families Fund for homelessness and education, as well as Bezos Academy, a network of tuition-free preschools. He targets systemic, long-term solutions.

Phil & Penny Knight The Knights-Phil and Penny Knight-have given $3.98 billion, or 10% of their net worth of $34.1 billion. They focus on supporting higher education and scientific research, granting funds to multiple universities, research campuses, and programs for college scholarships that provide enduring innovations and opportunities for learning.

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