Income inequality is a main topic of conversation at the World Economic Forum held in Davos, Switzerland, this week. Millionaire donors, heads of state and business leaders gather at the 50th annual edition of the event to discuss the challenges of tomorrow.
In recent years, some of the world’s wealthiest people have increased their giving amounts, but many support their own foundations rather than fund nonprofits. Very often, these foundations distribute only 5% of their funds each year. To determine who of the world’s wealthiest pumped the most money into nonprofits, rather than their own charitable foundation, Forbes teamed up with SHOOK Research to compile data on largest U.S. donors between 2014 and 2018. Instead of counting pledges ever made or amounts donated to charities that doled out grants,Forbes was interested in the sums that actually reached the beneficiaries.
Most of the top donors measured by this method are among the wealthiest in the United States: 21 of the 25 are billionaires, while two others come from billionaire families. Berkshire Hathaway mogul Warren Buffett has been the biggest donor in the past five years, donating $14.7 billion, much of it to causes chosen by his friends Bill and Melinda Gates’ foundation (per which he donates). The couple are right behind him in second place with an estimated $9.9 billion in donations over five years. Together, the trio mostly focuses on poverty reduction and development initiatives, such as polio eradication and HIV treatment. George Soros, billionaire financier,
In total, the 25 most generous donors in the United States donated $51.6 billion to nonprofits between 2014 and 2018 (the latest year for which full data is available). The funds support causes ranging from criminal justice and education reform, to scientific research and the fight against poverty. It’s obvious that if the wealthiest people on the planet dominate this list, it’s because giving a billion dollars to them doesn’t mean much. That’s why we also display their donations as a percentage of their net worth. According to this method of calculation, it was Chuck Feeney, a former billionaire thanks to his duty-free shops, who made such large pledges that he would die broke, and that goal is close to being achieved today: in the past five years, he has donated $1.6 billion, with a total of more than $8 billion donated in his career. Conversely, Mark Zuckerberg and his wife Priscilla Chan have so far donated just 1.2% of their wealth to nonprofits.
Find the full ranking below.
Also Read: https://famouspeopletoday.com/shlomo-rechnitz
Top 25 US donors (2014-2018)
1 | warren buffett |
Areas of action: health, poverty reduction
Total donations over 5 years: $14.7 billion
Net worth: $90 billion
Donations as a percentage of wealth: 16.3%
The investing star has donated $34 billion in Berkshire Hathaway stock since 2006, much of it to the Bill & Melinda Gates Foundation. The couple, longtime friends, have used the money for poverty reduction and health care initiatives in developing countries. Warren Buffet also supports education, social justice and women’s rights through foundations run by his children.
2 | Bill and Melinda Gates |
Areas of action: health, poverty reduction
Total donations over 5 years: $9.9 billion
Net worth: $109.6 billion
Donations as a percentage of wealth: 9%
The couple head the world’s largest private charitable foundation, with $46.8 billion in assets. Based in Seattle, the organization focuses on global poverty, economic development, health and education. It has distributed $50.1 billion in grants since its inception in 1994. The foundation’s main initiatives include providing contraceptive services to 120 million women in the poorest countries, preventing disease through vaccination and to eradicate polio, all by the end of 2020.
3 | george soros |
Areas of action: economic development, human rights
Total donations over 5 years: $ 3.1 billion
Net worth: $8.3 billion
Donations as a percentage of wealth: 37.4%
This Hungarian-born financier oversees the Open Society Foundations, a network of more than 20 local and national foundations in Eastern Europe. Among the causes he supports are voter rights and campaign finance, criminal justice reform, media freedom and human rights initiatives.
4 | Michael Bloomberg |
Areas of action: climate change, health
Total donations over 5 years: $3 billion
Net worth: $59.5 billion
Donations as a percentage of wealth: 5%
The former New York City mayor and current US presidential candidate is particularly active on issues of gun control, public health and climate change. In particular, he tried to shut down coal-fired power plants in the United States. His foundation, Bloomberg Philanthropies, has spent more than $1 billion to reduce tobacco use over the past decade. In 2018, Michael Bloomberg also announced a $1.8 billion pledge to Johns Hopkins University, where he trained.
5 | Walton family |
Fields of action: education , environment
Total donations over 5 years: $2.3 billion
Net worth: $181.4 billion
Donations as a percentage of wealth: 1.3%
The Walton Family Foundation, established by Walmart founder Sam Walton and his wife Helen, is now led by second and third generation family members, including Alice, Rob and Lukas Walton. From 2014 to 2018, the foundation dedicated nearly $1 billion to education, from kindergarten to high school. It supports charter schools (independent secular schools), helps fund autonomous schools within traditional public school districts, and supports new models of schooling and assessment. The Arkansas-based nonprofit has also committed $441 million to environmental initiatives, with the majority dedicated to ocean and river conservation.
6 | Jim and Marilyn Simons |
Fields of action: research in STEM ( science, technology, engineering, and mathematics )
Total donations over 5 years: $1.65 billion
Net worth: $21.6 billion
Donations as a percentage of wealth: 7.6%
A former math teacher, Jim Simons and his wife have dedicated their gifts to STEM research and education. Their Simons Foundation helps fund Math for America, a nonprofit that builds a network of highly qualified math and science teachers in high schools. The foundation also funds life science research through institutions such as the New York Genome Center and the Cold Spring Harbor Laboratory, and further supports autism care through its Autism Research Institute.
7 | Chuck Feeney |
Fields of action: science, human rights, youth
Total donations over 5 years: $1.6 billion
Net worth: N/A
Generous to his last breath, Chuck Feeney co-founded Duty Free Shoppers in 1960 and later transferred all of his company’s stock to Atlantic Philanthropies in 1984. His wish was to give away his entire fortune and die broke. In 2012, he told Forbes he was worth around $2 million. His foundation will close in 2020 after distributing more than $8 billion since its inception. His latest actions include the creation of the Global Health Institute, intended to combat the dementia epidemic, and the launch of the Atlantic Fellows for Racial Equity.
8 | Hansjoerg Wyss |
Fields of action: environment, science
Total donations over 5 years: $1.55 billion
Net worth: 6.3 billion
Donations as a percentage of wealth: 24.6%
The Swiss entrepreneur who made his fortune in medical devices is working to save the planet. In 2018, he pledged to spend $1 billion over ten years to accelerate conservation efforts, with the goal of protecting 30% of the Earth’s surface by 2030. From Wyoming, he has also contributed to the protection of 8 million hectares of land in the American West and 2 million hectares of land internationally, thanks to its Wyss foundation, which works with local partners to buy back land and protect them.
9 | Pierre Omidyar |
Focus areas: poverty reduction, human rights, disaster relief, education
Total donations over 5 years: $1.4 billion
Net worth: $13.3 billion
Donations as a percentage of wealth: 10.5%
The Omidyar Group, founder of eBay, supports new approaches to addressing challenges around the world, from poverty alleviation to disaster relief. In Africa, India and Latin America, the philanthropic group focuses on providing access to high-tech education. He has also supported nonprofits that provide emergency aid to refugees from war-torn countries like South Sudan and Syria.
10 | Gordon and Betty Moore |
Fields of action: science, environment, education
Total donations over 5 years: $1.4 billion
Net worth: $11.8 billion
Donations as a percentage of wealth: 11.9%
Through the Gordon and Betty Moore Foundation, the Intel co-founder and his wife have donated nearly $1.4 billion over the past five years to causes including environmental protection, scientific research and Higher Education. The foundation committed $200 million to building the Hawaiian Thirty Meter Telescope (an astronomical observatory) and supported the purchase of 60 hectares of conservation land in California’s Santa Cruz Mountains.
11 | John and Laura Arnold |
Areas of action: education , criminal law, health
Total donations over 5 years: $1.2 billion
Net worth: $3.3 billion
Donations as a percentage of wealth: 36.4%
The former hedge fund manager and his wife are focused on using research and advocacy to advance the criminal justice, health care and education systems. The couple’s work includes creating the Public Safety Assessment, a tool that helps court officers assess, using data, whether someone charged with a crime is eligible for bail. This tool is used today in Arizona, Kentucky, New Jersey and Utah. Other initiatives include Pension Research and Civica Rx, a non-profit generic drugmaker that aims to provide essential medicines at affordable prices.
Also Check this Link: famouspeopletoday
12 | Mark Zuckerberg and Priscilla Chan |
Fields of action: science, education, criminal law
Total donations over 5 years: $1 billion
Net worth: $81.8 billion
Donations as a percentage of wealth: 1.2%
A week after the birth of their first child, in December 2015, the Facebook CEO and his wife Priscilla pledged to donate 99% of their Facebook shares and created the Chan Zuckerberg Initiative (CZI) to organize their donations. This initiative focuses on education, curing illnesses and building inclusive communities through actions in the areas of criminal justice, housing accessibility and migration policies. In 2018, CZI made a five-year pledge of $40 million to the Regional Housing Flexible Fund, a public-private partnership that strives to create affordable housing in the San Francisco Bay Area.
13 | Julian Robertson Jr. |
Fields of action: environment, education, medical research
Total donations over 5 years: $881 million
Net worth: $4.4 billion
Donations as a percentage of wealth: 20%
The hedge fund creator Tiger Management started the Robertson Foundation to support causes related to the environment, education and medical research. The foundation notably co-founded the New York City Charter School Center and created the Robertson Scholars Leadership Program, aimed at funding undergraduate education at Duke University and the University of North Carolina at Chapel Hill. Julian Robertson also created other foundations, such as the Tiger Foundation, the Aotearoa Foundation and the Blanche and Julian Robertson Family Foundation, in honor of his parents.
14 | Eli and Edythe Broad |
Areas of action: education , art, science
Total donations over 5 years: $816 million
Net worth: $6.8 billion
Donations as a percentage of wealth: 12%
The couple, residing in Los Angeles, are famous for their patronage: their Broad Art Foundation, an art lending library created in 1984, has made more than 8,500 loans to 500 museums and galleries. The foundation also presents its collection at the Broad, a free contemporary art museum located in downtown Los Angeles. The couple also support science and education through their Eli and Edythe Broad Foundation. They have also participated in the financing of the Broad Institute of MIT and Harvard, an interdisciplinary institute which aims to use genomic research to treat pathologies such as cancer, heart disease and diabetes.
15 | Charles Koch |
Areas of action: education
Total donations over 5 years: $797 million
Net worth: $42.8 billion
Donations as a percentage of wealth: 1.9%
The Koch Industries mogul has devoted much of his philanthropic efforts to education. His Charles Koch Foundation provides scholarships to students and researchers at some 300 universities, funding research ranging from criminal law reform and drug use to foreign policy and immigration.
16 | Paul Allen |
Fields of action: environment , science
Total donations over 5 years: $720 million
Net worth: $20.3 billion
Donations as a percentage of wealth: 3.6%
The Microsoft co-founder donated more than $2 billion in his lifetime, including $500 million to the Allen Institute for Brain Science, which works to map the human brain. Vulcan, the parent organization of its extensive portfolio, also donates to environmental preservation initiatives and oceanographic research. Paul Allen passed away on October 15, 2018, so his net worth is as of that time.
17 | Lynn and Stacy Schusterman |
Areas of action: education , Jewish community
Total donations over 5 years: $713 million
Net worth: $ 3.4 billion
Donations as a percentage of wealth: 21%
The wife and daughter of the late billionaire Charles Schusterman support education and the Jewish community, as well as issues affecting their hometown of Tulsa, Oklahoma. Since its inception in 1987, the foundation has given more than $1.2 billion and has grown to include the Schusterman Foundation-Israel as a branch in Israel. New missions were also created, such as the ROI Community and the Schusterman Fellowship.
18 | Dustin Moskovitz and Carl Tuna |
Fields of action: health, science, criminal justice
Total donations over 5 years: $705 million
Net worth: $13.5 billion
Donations as a percentage of wealth: 5.2%
The Facebook co-founder and his wife Cari created two organizations to bring transparency to their charitable efforts: Good Ventures and Open Philanthropy. From 2014 to 2018, they donated $125 million to nonprofits fighting malaria, $63 million to improve farm animal welfare, $55 million to research institutions on the risks of advanced artificial intelligence and $50 million for criminal law reform.
19 | Kenneth Griffin |
Areas of action: education , art, science
Total donations over 5 years: $620 million
Net worth: $13.1 billion
Donations as a percentage of wealth: 4.7%
The Chicago-born hedge fund manager is making waves with his donations. In 2014, he pledged $150 million to Harvard, and three years later pledged $125 million to the University of Chicago’s economics department to fund scholarships and research.
20 | Michael and Susan Dell |
Areas of action: poverty reduction, education
Total donations over 5 years: $614 million
Net worth: $31.5 billion
Donations as a percentage of wealth: 2%
In 2017, the foundation that bears his name injected a billion dollars to support social entrepreneurs and non-profit organizations. The foundation has also focused on improving urban education and adolescent health, as well as expanding access to higher education.
21 | Bernard and Billi Marcus |
Fields of action: health, science, veterans
Total donations over 5 years: $588 million
Net worth: $6.4 billion
Donations as a percentage of wealth: 9.2%
The Home Depot co-founder and his wife have donated to several causes in their home state of Georgia. They donated $290 million to the Georgia Aquarium in Atlanta and the Marcus Autism Center, one of the largest clinical centers for pediatric autism in the United States. In May 2019, Bernard Marcus threw a party for his 90th birthday where he raised $117 million for his favorite nonprofits.
22 | Ray and Barbara Dalio |
Fields of action: education , environment, health
Total donations over 5 years: $576 million
Net worth: $18.7 billion
Donations as a percentage of wealth: 3.1%
The hedge fund manager and his wife support a range of initiatives through Dalio Philanthropies. Causes close to their hearts include ocean exploration, mental health and wellness, public school education, social entrepreneurship, and the arts.
23 | W. Barron Hilton |
Areas of action: Catholic religion, disaster relief, youth
Total donations over 5 years: $545 million
Net worth: N/A
The former CEO of Hilton Hotels, whose father founded the eponymous chain, committed 97% of his wealth to the family foundation in 2007. It awards more than $100 million in grants a year, supporting programs for the homeless, young people in foster care, children with HIV, but also young people working in the hotel industry, etc. W. Barron Hilton passed away on September 19, 2019.
24 | Phil Knight |
Areas of action: education
Total donations over 5 years: $533 million
Net worth: $41 billion
Donations as a percentage of wealth: 1.3%
Co-founder of athletic apparel giant Nike, Phil Knight has committed more than $290 million to the University of Oregon, where he had track and field as a student. Among this sum, 100 million dollars will be dedicated to financing the construction of the school’s new basketball stadium, which will take the name of Matthew Knight Arena, in tribute to his deceased son. Phil Knight has also pledged more than $500 million to the Stanford Graduate School of Business to set up a global scholarship program.
25 | DeVos Family |
Fields of action: education , art, health
Total donations over 5 years: $529 million
Net worth: N/A
Through the five foundations started by Amway co-founder Richard DeVos Sr. and his four children, the family makes significant donations to the arts, health, religious organizations and education (indeed, Betsy DeVos, wife of Richard Jr., is Secretary of Education in the Trump administration). The DeVos family has donated millions of dollars to charter schools and more than $50 million to Grand Valley State University near their hometown of Grand Rapids, Michigan. There, the family’s name is present on every corner, from the local concert hall of the DeVos Symphony Orchestra to the Helen DeVos Children’s Hospital.
