In a year marked by declines in both the U.S. stock market and billionaire fortunes, a contrary trend emerged in the realm of philanthropy. The most generous philanthropists in the United States, numbering 25, bucked the economic downturn, collectively contributing $196 billion throughout their lifetimes up to the conclusion of 2022. This figure represents a noteworthy ascent from the $169 billion recorded a year prior, primarily attributed to sustained giving by these prominent benefactors and the incorporation of fresh data.
The surge of $27 billion in philanthropic contributions over the past year outpaced the $20 billion gain observed in the two preceding years and more than doubled the cumulative sum bestowed by the top 25 in 2018. This surge in giving is particularly striking considering the backdrop of diminishing fortunes; the combined net worth of these 25 philanthropists now stands at $936 billion, reflecting a significant $164 billion decline from a year ago, constituting a 15% decrease. It is noteworthy that some of these philanthropists have pledged their commitment to The Giving Pledge, vowing to donate a minimum of half their wealth during their lifetimes or in their bequests. Three notable individuals who have fulfilled this pledge include Chuck Feeney, T.T. Denny Sanford, and George Soros (the latter, while not a signatory, has given away more than half his fortune).
Warren Buffett tops the list of givers yet again, as measured by the total amount given away.
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10 Most Generous Givers In USA
In 2022 alone, Buffett's philanthropic endeavours amounted to a generous $5.4 billion, contributing significantly to his lifetime total of $51.5 billion in charitable donations. This cumulative sum surpasses the combined charitable contributions of Bill Gates and Melinda French Gates by almost $13 billion. While Bill Gates made a substantial donation of $20 billion to the Gates Foundation in July 2022, notably eclipsing Buffett's $3.1 billion stock gift to the same foundation in the preceding year, it's essential to clarify that this list measures the contributions disbursed by these foundations, rather than the donations made to them:
Rank | Name | Source of Wealth | Giving Focus | Lifetime Giving | Change vs. Year Ago |
1 | Warren Buffet | Berkshire Hathaway | Health, Poverty Alleviation | $51.5B |
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2 | Bill Gates & Melinda French Gates | Microsoft, Investments | Health, Poverty Alleviation | $38.4B |
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3 | George Soros | Hedge Funds | Democracy, Education, Human Rights | $18.4B |
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4 | MacKenzie Scott | Amazon.com | Economic, Racial, Gender Inequality | $14.43B |
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5 | Michael Bloomberg | Bloomberg LP | Climate Change, Health, Education | $14.4B |
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6 | Charles "Chuck" Feeney | Duty-Free Shoppers | Science, Human Rights, Youth | $8B | - |
7 | Gordon & Betty Moore | Intel | Science, Environment, Bay Area | $5.8B |
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8 | Jim & Marilyn Simons | Hedge Funds | Basic Science, Math | $5.2B |
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9 | Mark Zuckerberg & Priscilla Chan | | Science, Education, Criminal Justice | $3.9B |
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10 | Phil & Penny Knight | Nike | Education | $3.37B |
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MacKenzie Scott, the acclaimed novelist and former spouse of Amazon founder Jeff Bezos, has maintained an extraordinary pace in her philanthropic endeavours, demonstrating a remarkable commitment to numerous organizations. In the year 2022, she declared a substantial donation of $5.8 billion, distributed among approximately 800 nonprofits. This noteworthy contribution unfolded over 17 months, commencing in June 2021. In less than three years, Scott has bestowed a total of $14.43 billion, a figure that surpasses all but a select few philanthropic heavyweights—Warren Buffett, Bill Gates, Melinda French Gates, and George Soros. It's particularly striking considering the comparatively shorter duration of her philanthropic journey compared to these stalwarts, who have been actively engaged in charitable activities for 15 to 20 years or more. Notably, Scott's total philanthropic giving is estimated to be five times more than her ex-husband Jeff Bezos, according to Forbes.
Adding a transparent touch to her philanthropic efforts, in December, Scott took the step of publishing a comprehensive list of all the grants she has made thus far. This detailed record is accessible on a user-friendly and searchable website she launched, aptly named Yield Giving.
The list is based on Forbes’ “America’s Most Generous Givers 2023: The Nation's 25 Top Philanthropists” list which includes USA’s top 25 most generous philanthropists.
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