As one of the wealthiest countries in the world, the United States has over 700 billionaires living in the country, and the cumulative wealth of the top 1% of the population reached a record US$45.9 trillion at the end of the fourth quarter of 2021, according to the Federal Reserve. Despite the economic disruptions caused by the epidemic, the highest earners were able to increase their fortunes by more than US$12 trillion. With that money came gifts to different organizations, and the country’s charitable efforts totaled US$169 billion throughout the donor’s lifetime.
According to Forbes, Warren Buffet leads the pack, having given US$4.1 billion to The Bill and Melinda Gates Foundation and organizations established by his late wife and three children. Following closely after is MacKenzie Scott, Jeff Bezos’ ex-wife, who is well-known for her charitable contributions, having handed over $5.8 billion to over 500 different organizations around the United States. George Soros, Mark Zuckerberg, Michael Bloomberg, and Charles Feeney are among the other noteworthy benefactors.
Here Are The Top Ten Philanthropists In The United States
With a lifetime giving total of $46.1 billion, the nonagenarian has vowed to give away more than 99 percent of his fortune, making him probably the greatest philanthropist of all time. The foundation of his close friends Bill and Melinda French Gates has received the majority of his donations. Berkshire Hathaway donates between $2 billion to $3 billion in shares each year to the foundation, which works on poverty and healthcare programs in underdeveloped nations as well as education in the United States. He also co-created The Giving Pledge with Bill Gates and donated billions of dollars to nonprofits funded by his family members.
Bill Gates And Melinda French Gates
The Bill and Melinda Gates Foundation served as the primary channel for the former couple’s charitable initiatives. Despite the breakup of their 27-year marriage, the couple remains co-chairs of the charity they founded in 2000. The foundation granted $5.8 billion in grants in 2020, with the funds going toward Covid-19 research and vaccine development. Furthermore, the Bill and Melinda Gates Foundation has provided university scholarships to 20,000 low-income students of color in the United States and has worked to improve sanitation in underdeveloped nations.
The billionaire’s Open Society Foundations sponsor a variety of social issues including as journalism, justice reform, human rights, and economic inequality. Soros pledged $500 million to the endowment of Bard College, a 2,400-student liberal arts college located north of New York City, in April 2021. The Open Society Foundations, which was also established last year, is reorganizing the way it “confronts the concerns of the day,” identifying the growth of authoritarianism as the key worry in today’s society.
Michael Bloomberg established Bloomberg Philanthropies to address concerns such as climate change, gun safety, and public health. Bloomberg, the former mayor of New York City and co-founder of Bloomberg, has contributed more than US$12 billion to charity organizations, including US$1.6 billion last year. Following George Floyd’s protest, Bloomberg Philanthropies pledged $100 million to help four historically Black medical institutions. Furthermore, in December 2021, Bloomberg promised an additional US$700 million to help charter schools in 20 metro areas around the United States for the following five years.
MacKenzie Scott, who does not actively publicize her donations, rather let the work of charity organizations speak for itself. After her divorce from the millionaire, Jeff Bezos’ ex-wife received a large fortune and has since been engaged in using the money for good. In fewer than two years, she has given at least $8.6 billion to over 700 organizations addressing topics ranging from racial justice to gender equality to public health. While Scott does not divulge the specifics of her donations, she does document her charitable journey on Medium, an online publishing platform, and others criticize her for her lack of openness. As a result, Scott stated that she would release more information and that she will be creating a website with a searchable database of presents.
Charles Feeney takes his humanitarian efforts to the extreme, claiming to have a high objective of dying broke. He is the co-founder of Duty Free Shoppers, a Hong Kong retail business founded in the 1960s, and has contributed around US$8 billion to numerous causes including education, youth, and human rights. Feeney’s name was revealed as part of a sleuthing effort to give his riches, and his actions later served as motivation for Warren Buffet and the Gateses to start The Giving Pledge in 2010. Feeney and his wife Helga will close his charity, the Atlantic Philanthropies, in September 2020, when it has given away all of its assets.
George And Betty Moore
George Moore, founding and longstanding CEO of technology firm Intel, established a foundation with his wife in 2000 and finances it with grants of Intel shares. The pair has given a total of $5.5 billion in their lives. In 2021, the Moore Foundation will join forces with others such as Jeff Bezos’ Earth Fund and Bloomberg Philanthropies to pledge $5 billion to preserve biodiversity over the following ten years. According to Forbes, the objective is to guarantee that at least 30% of the earth is preserved in the most critical biodiversity areas by the end of the decade.
Jim And Marilyn Simons
A strong education is one method to break free from the cycle of poverty. Jim and Marilyn Simons, who are passionate advocates of this cause, are focusing on this issue. Jim focused his efforts on STEM research, while his wife Marilyn formed the Simons Foundation, which has supported Maths, a charity that supports math and science teachers. In addition, the organization funds life sciences research, such as the Autism Research Initiative.
Phil Knight And Family
The majority of Phil Knight’s fortune stems from Nike, one of the most well-known companies in high-street apparel. The millionaire has not revealed much about himself, although he is claimed to have given to three universities: the University of Oregon, Oregon Health & Science University, and Stanford University. The sum is estimated to be US$1.9 billion, with Knight and his wife adding another US$500 million to the University of Oregon’s scientific research site in July 2021.
Mark Zuckerberg And Priscilla Chan
The Chan Zuckerberg Initiative, founded by Meta‘s creator and his wife, is a nonprofit and advocacy organization (CZI). The pair has supported scientific and medical research, as well as education and criminal justice reform. According to reports, the couple has handed away almost $3 billion. Furthermore, by the end of 2021, CZI announced a new ten-year effort worth US$3.4 billion that would focus on tracking and analyzing biological processes in the human body. Along with this project, the organization will use cutting-edge technologies such as AI and machine learning to supplement advances in biology and medicine.