Rich People That Donate Money

Rich People That Donate Money – From Warren Buffett to Jeff Bezos, the country’s most generous billionaires have given away $169 billion in their lifetime — and now they’re richer than ever.

It continues to raise billions of dollars for many of America’s great philanthropists. So, give charitable contributions as well. The world’s top 25 donors gave a total of $169 billion during their lifetime

Rich People That Donate Money

Headline: Warren Buffett’s annual summer gift to Berkshire Hathaway topped $4.1 billion this year. Those funds, as usual, went to the Bill and Melinda Gates Foundation, which works on poverty and health care initiatives, including research and vaccines for Covid-19, as well as funds created by his late wife and three children.

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Not far behind (maybe ahead): MacKenzie Scott, business magnate, has no foundation and gives away his fortune in secret — he donated $5.8 billion to various groups across the country in 2020. He continued to give away his fortune last year. The fastest-growing billionaire announced in June that he would donate another $2.7 billion to 286 “high-impact” groups, including the Children’s Defense Fund and the National Council of Nonprofits, bringing his lifetime giving to more than $8.6 billion. Then in December, Scott published a Medium post saying he had made another donation, but did not say who received the donations or how much he paid. He quickly explained that he would share about the giveaway “next year.” During that time,

Two new faces joined the list of top philanthropists since last year: Facebook founder Dustin Moskowitz and his wife Kari Tuna, and the philanthropist’s ex-husband Scott Jeff Bezos announced a $1 billion gift from his retirement in 2021. CEO of Amazon in July.

Other big donations: George Soros’ $500 million to a small liberal arts college, Mark Zuckerberg’s $3.4 billion initiative to measure and analyze biological processes in the human body, and a decade-long commitment to biodiversity conservation, the top three small group donors: There’s Bezos, Michael Bloomberg and Gordon and Betty Moore.

Of course, it’s easier to make billions of dollars when the markets are rising. These 25 philanthropists are worth $150 billion, an average increase of 18% over last year. They are worth a total of 1.1 trillion dollars. 17 of them signed the “Entry Oath”, pledging to donate at least half of their wealth to charity during their lifetime or after their death. But only two so far – Chuck Feeney and Soros (who did not sign the Giving Pledge). Two-thirds don’t give away even a quarter of their wealth, meaning more zeros for charity in the coming years.

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In other words, our lifetime estimates, measured in dollars given by American billionaires to charitable recipients, do not include money invested in buildings that have yet to be donated. To that end, we exclude promised but unpaid gifts or money given to donor funds in open, tax-advantaged accounts, unless the donor shares the details. grants that such organizations actually pay out. This is a list of individuals and couples who are US citizens; Finally, we excluded extended families such as the Waltons, who are controlling shareholders of Walmart, and major donors such as Hansjoerg Wyss, who lives in the US but is a Swiss citizen. Net worth until January 18, 2022.

Warren Buffett Source of wealth: Berkshire Hathaway Net worth: $115.6 billion Focus: Health, poverty alleviation Life Giving: $46.1 billion

Buffett is probably the greatest philanthropist of all time because of his willingness to give away more than 99% of his wealth. Most of the $46 billion it gives — between $2 billion and $3 billion a year in capital — has gone to friends Bill and Melinda French Gates’ foundation for work on poverty and health initiatives in developing countries and education. In 2010, he founded The Giving Pledge with well-known investors Bill and Melinda in the USA. He also gave billions of dollars to four charities founded by his three children and his late wife.

Bill Gates and Melinda French Gates Source of Wealth: Microsoft Revenue: $133.3 billion, $6.1 billion Focus: Health, Poverty Alleviation Giving Life: $33.4 billion

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Although the Gates ended their 27-year marriage last year, they continue to chair the Bill and Melinda Gates Foundation, the vehicle for their philanthropic work. Finally,

Continues to count the ex-spouse’s contributions as a cumulative figure. The fund has awarded $5.8 billion in grants for 2020, including the cost of research and vaccines for Covid-19.

Since 2007, the donation has been split between Gates and major donor Warren Buffett. In addition, Melinda has given something through Pivotal Ventures, an investment and incubation firm.

George Soros Source of Wealth: Investments Net Worth: $8.6 billion Focus: Democracy, Education, Discrimination, Health Care Lifetime Giving: $18.1 billion

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Open Society Funds support causes such as economic equality, discrimination, human rights, justice reform and journalism. In April 2021, Soros announced that he would donate $500 million to Bard College, a liberal arts school with more than 400 students, located 90 miles north of New York. In June 2021, the Open Society Foundations, which operate in more than 120 countries, announced that they would “face the challenges of the present” and stop the growth of authoritarianism around the world.

Michael Bloomberg Source of wealth: Bloomberg LP Net worth: $70 billion Focus: climate change, health Foundation: $12.7 billion

The former New York mayor and founder of Bloomberg LP, which focuses on climate change, gun safety and public health, has given more than $12 billion to charity, including $1.6 billion, according to Bloomberg Philanthropy. He has spent more than $1 billion on smoking prevention in the past decade, and in 2018 announced a $1.8 billion pledge to his alma mater, Johns Hopkins University. Following the 2020 George Floyd protests, Bloomberg Philanthropies announced a $100 million gift to support four historically black medical schools. Bloomberg, who called the U.S. public education system “broken” in a December 2021 Wall Street Journal opinion piece, said he would provide $750 million over the next five years to support charter schools in 20 U.S. metros.

McKenzie Scott Source of wealth: Amazon Net worth: $53.5 billion Giving focus: Race, gender and economic inequality Lifetime giving: $8.61 billion

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When Scott posts an update on Medium, the nonprofit world takes notice. The ex-wife of Amazon founder Jeff Bezos doesn’t have a website and doesn’t speak publicly about her charity, but she uses her blog to chronicle her efforts to distribute her vast fortune more quickly after the divorce. some kind of billionaire. So far, Scott has distributed at least $8.6 billion to 780 additional organizations in less than two years, focusing on causes such as racial justice, gender equality and public health. In December 2021, Scott left Medium to reveal the recipients of his latest donations, allowing the nonprofits to speak for themselves. After criticism over a lack of transparency, Scott said he would share more information and announced he was launching a website with a searchable database of gifts.

Charles “Chuck” Feeney Source of Wealth: Donor Income: Under $2M Focus: Science, Human Rights, Youth Lifetime Giving: $8B

The former billionaire gave away almost all of his wealth as part of a noble cause to die for. Feeney, who founded the Duty Free Shoppers retail chain in 1960, began donating some of his wealth anonymously, but eventually went public with his Giving to Life idea, which inspired Gates and Buffett to launch the Access Pledge in 2010. Of the $8 billion endowment, about $3.7 billion went to education, including $1 billion to Cornell. In September 2020, Feeney and his wife Helga closed Atlantic Charities after giving away the last of their assets.

Gordon and Betty Moore Source of Wealth: Intel Net Worth: $11.1 billion Giving Focus: Science, Environment, Health Care, Bay Area Lifetime Giving: $5.5 billion

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Intel’s co-founder and former CEO and his wife began funding it in 2000 by donating Intel stock. In September 2021, the Moore Foundation joined eight other groups, including the Bezos Earth Foundation and Bloomberg Philanthropy, in pledging $5 billion over ten years to support biodiversity. Specifically, to ensure that 30% of the planet’s biodiversity is protected by 2030. In 2021, the Moore Foundation awarded nearly $350 million in grants.

Jim and Marilyn Simons Source of Wealth: Late Foundation Net Worth: $24.4 billion Giving Focus: STEM Research Lifetime Giving: $3.3 billion

Simons, the founder of venture capital fund Renaissance Technologies and a former mathematics professor, conceived the philanthropic venture.

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