Success and wealth often go hand in hand, but for those who share these dual privileges, there is another consequential attribute that they feed into; philanthropy. Many of the world’s most affluent and successful individuals and families recognise that their prosperity can have far-reaching consequences when it comes to changing lives for the better. Whether through the accumulation of generational wealth or individual success, when your bank account reaches a certain level, it is customary to seek avenues through which to ‘give back’ and fund initiatives or programmes that can lift up those less fortunate. Even with the commitment of a small percentage, the impact can be immense.
The Biggest Philanthropists in the World
Contributions or donations to charities, research programmes, educational foundations or climate change action groups can sustain vital support, develop new, life-saving technology, invent cures to terminal or chronic illnesses and combat the erosion of the planet; all of which will help to safeguard a bright future for generations to come. Looking for some philanthropic inspiration? Here are the stories of the world’s top philanthropists and what causes matter the most to them.
Jamsetji Tata
Amount Given: $102.4 billion
Causes: Education, healthcare
Despite having died in 1904, Jamsetji Tata still retains the title of the world’s most generous philanthropist. A pioneering Indian industrialist, Jamsetji founded the Tata Group and remained committed to making a positive societal impact with his company and his wealth throughout his life.
Bill Gates
Amount Given: $75.8 billion
Causes: Healthcare, extreme poverty, education, access to information technology
Along with his ex-wife Melinda, Bill runs the highly impactful Bill and Melinda Gates Foundation that has been in operation since 2000. Its work includes funding scholarships, sanitation efforts in developing countries and medical research, including the research and vaccine development for Covid-19.
Warren Buffet
Amount Given: $46.1 billion
Causes: Healthcare, education, AIDS-prevention, sanitation
Warren Buffet is one of the world’s most prolific philanthropists and has pledged to give away more than 99% of his wealth. This kind-hearted nonagenarian donates billions each year to the Bill and Melinda Gates’ foundation and he co-founded The Giving Pledge with Gates.
George Soros
Amount Given: $32 billion
Causes: Healthcare, anit-fascist publications, human rights, economic, legal and social reform A passionate and open-minded individual, George Soros is committed to using his substantial resources to fight the injustices inherent in much of modern society, including human rights, economic disparity, criminal injustice and the rise of authoritarianism. His Open Society Foundations work on a range of causes to tackle the ‘problems of the day’.
Azim Premji
Amount Given: $21 billion
Causes: Education, healthcare Another signee to the Giving Pledge, Azim Premji is the founding chairman of Wipro Limited. In 2019 he dropped 15 positions in the Forbes India Rich List because he had given such substantial amounts away to charity.
MacKenzie Scott
Amount Given: $14 billion
Causes: Racial equality, LGBTQ+ equality, functional democracy and climate change
One of the least high-profile of the world’s top philanthropists, MacKenzie Scott has used her fortune, inherited in her divorce from Jeff Bezos, to fund nonprofit organisations that fight against racial injustice, promote gender equality and support public health initiatives.
Michael Bloomberg
Amount Given: $12.7 billion
Causes: Environment, public health, arts, government innovation and education
This former New York Mayor and presidential candidate is particularly concerned about climate change, inequality, public health and gun safety. The Bloomberg Philanthropies are designed to address as many of these issues as possible, donating billions in funds in the process.
Li Ka-shing
Amount Given: $10.7 billion
Causes: Education, healthcare
This Hong Kong billionaire business magnate is known for his savvy investor credentials and generous philanthropic efforts. His estimated net worth is over $37 billion and he owns the second largest private foundation after Bill and Melinda Gates. He lives an extremely frugal lifestyle and has been awarded frequently for the size of his charitable contributions.
Andrew Carnegie
Amount Given: $9.5 billion
Causes: Libraries, education, peace.
A famous Scottish-American industrialist, Andrew Carnegie died in 1919, but not before becoming one of the world’s most generous philanthropists. In the last 18 years of his life, he gave away almost 90% of his fortune to charities, foundations and universities. He wrote an article in 1889 about ‘The Gospel of Wealth’ where he called on those with the resources to use their wealth to improve society, providing much of the inspiration behind modern philanthropic movements.
One of the reasons that there are so many US billionaires on the list of the world’s top philanthropists might be, in part, thanks to the creation of The Giving Pledge. Founded in 2010 by Warren Buffet, Bill Gates and Melinda Gates the pledge is “a promise by the world’s
wealthiest individuals and families to dedicate the majority of their wealth to charitable causes”. When it originally launched, 40 of America’s wealthiest people signed up to the commitment, aiming to set a “new standard of generosity amongst the ultra-wealthy”. Today,
It has pledges from billionaires around the world and signatories help to fund a diverse range of issues, completely of their own choosing. It is intended to be a “multi-generational effort” that will “shift the social norms of philanthropy among the world’s wealthiest and inspire people to give more, establish their giving plans sooner and give in smarter ways”.
Wherever they are and however their fortunes were made, the billionaires who represent the top philanthropists in the world are making a huge difference in communities, society and nations. Their action is a vital resource to the organisations that help those in need and champion the endeavours that will make the world a better place. Their example is one to be applauded and emulated, even by those with less funds at their disposal. When anyone stands up to take action and make a difference, the world is a little bit brighter for us all.
