Against the backdrop of a world still grappling with the fallout from the Covid-19 pandemic, philanthropic giving by the wealthy is an expanding area of focus for many not-for-profit and education organizations’ fundraising departments. This report, our sixth on philanthropic giving, focuses on the ultra wealthy (individuals with $30m or more), who account for a large share of this giving.
The report begins with an exploration of global philanthropy, charting the significant role played by the ultra wealthy because of the scale of their giving. In this context, our report touches on society’s growing expectations of this group’s responsibilities, given rising inequality and surging UHNW wealth. We uncover how the pandemic has affected UHNW giving compared with other major sources of philanthropic funding.
We examine philanthropic giving by the ultra wealthy by region, highlighting a range of influencing factors. Going into greater depth, we shine a spotlight on UHNW donors in North America, Europe and Asia. We analyze ultra wealthy donors’ favorite causes and draw out differences by region across gender, age, wealth source and primary industry.
Finally, using a study of archetypes, we reveal the characteristic differences between two types of philanthropic ultra wealthy individuals: those with and those without a private charitable foundation, the latter we term “major philanthropists."
Given that sources of philanthropic funding are likely to remain constrained for the foreseeable future, giving by the ultra wealthy continues to offer significant potential, making this report an essential read for all organizations that prospect for and engage with the wealthy.