If the number of new billionaires created in the first year of the new crown pneumonia epidemic hit a new record, then 2022 will be the year of billionaires’ huge charitable giving.
All year long, billionaires have pledged the vast sums of cash they’ve amassed to various organizations, often their own foundations, that aim to tackle the biggest challenges facing the world, from fighting climate change to eradicating poverty.
Elizabeth Dale, an associate professor of nonprofit leadership at Seattle University, told Fortune: “There are very few people who donate $1 billion in a year. As long as someone announces that in a year Giving more than $1 billion, we knew they were going to be one of the biggest donors in a typical year.”
Here are the biggest donations made by the world’s richest people in 2022. The list is not exhaustive and only includes those who donated more than $1 billion. Notably, the list does not include Bernard Arnault and Elon Musk, who were the world’s richest and second richest people respectively when the list was published.
Warren Buffett
At his annual summer party in June, Warren Buffett announced he had donated another $4 billion worth of Berkshire Hathaway stock, making it the 17th time Buffett has done so. Such an annual giving. At the time of the announcement, the donation pushed Buffett’s total lifetime philanthropic commitments to $48 billion.
Buffett pledged in 2006 to donate 99% of his entire fortune to charitable foundations, donating to five major foundations every year: Susan Thompson Buffett Foundation, Sherwood Foundation, Howard · The Howard G. Buffett Foundation, the NoVo Foundation, and the Bill and Melinda Gates Foundation.
With the exception of the Bill & Melinda Gates Foundation, which Buffett once chaired and made the biggest donation to, the other four charities are run by his three children.
But his charitable giving in 2022 doesn’t end there. In November, Buffett made another surprise donation of $750 million worth of Berkshire Hathaway stock on Thanksgiving Eve — the first time Buffett, then 92, made a second major investment in the same year. donate.
But unlike his usual annual giving, the Bill & Melinda Gates Foundation was conspicuously absent from the list of recipients. Buffett said the timing and recipient of the second donation was no coincidence, and it was his way of showing appreciation for his children’s philanthropic work.
Buffett told CNBC’s Becky Quick: “Personally, I’m proud of the way my kids have grown up. They know I’m happy with them, and that makes me feel good. Satisfaction. It’s the ultimate endorsement for the kids, and it’s the ultimate statement that the kids don’t want to be hereditary rich.”
Bill Gates and Melinda Gates
Microsoft co-founder Bill Gates joins Buffett in 2022, planning to give away his entire fortune.
“Going forward, I plan to donate nearly all of my wealth to the foundation. I will keep falling down the list of the richest people in the world and eventually quit the list.” Gates tweeted in July At the time, he announced that he would donate an additional $20 billion to the Bill & Melinda Gates Foundation, the article wrote.
Gates wrote in a tweet: “I have an obligation to give personal resources back to society to make a big difference in reducing suffering and improving lives. I hope that other people with great wealth and privilege will also step up in this moment.”
Gates and his ex-wife Melinda French Gates have pledged more than $50 billion to the foundation since 1994. For Bill, reaching the lofty goal of giving away his entire fortune means pledging an additional $116 billion to the foundation, which fights disease and poverty around the world.
The Gates Foundation, which he and his wife founded in 2000, plans to increase annual spending by 50% to $9 billion by 2026, from the current $6 billion, Gates wrote in a blog post in July.
“Today it is evident that, in all areas where we work, the need is greater than ever before. The great crisis of our time demands more from all of us,” Gates wrote, adding that not to be overwhelmed by COVID-19 We should be discouraged by such huge setbacks as the epidemic and the conflict between Russia and Ukraine. We must work hard to make the world a better place. “It’s better to focus on coming up with solutions than to give up everything in despair,” he wrote.
But at the same time, Gates and his foundation have become important targets of new crown virus conspiracy theories, including false allegations linking him to the origin of the new crown virus, or suggesting that he plans to use the new crown vaccine to implant surveillance in billions of people microchip. “You can’t help but laugh because it’s crazy,” Gates told the BBC in May.
jeff bezos
Amazon founder Jeff Bezos is another billionaire who has joined the ranks of the world’s richest people who have pledged to give away their entire fortune.
Bezos announced in November that he plans to donate most of his $122 billion fortune. Over the years he has been criticized for his lack of philanthropy compared with other billionaires. Notably, Bezos is not on the list of signatories to the Giving Pledge. The Giving Pledge is a campaign by Buffett and Gates to encourage the world’s wealthiest people to donate half of their net worth to charity.
The world’s fourth-richest person gave country singer Dolly Parton $100 million to charities of her choice as part of Bezos’ annual Courage and Civility Awards. After the donation, Bezos made a pledge.
“The hard part is figuring out how to do it in a leveraged way — it’s not easy,” Bezos said in announcing the news with girlfriend Lauren Sanchez.
“Building Amazon is not easy. It takes hard work day and night and resourceful teammates. Philanthropy is very similar to that. It’s really hard, and a lot of it just doesn’t work.”
Bezos did not spell out exactly how he plans to distribute his wealth, nor did he provide any specifics about which causes he might be most focused on.
“There’s still a lot that we don’t know about,” Benjamin Soskis, a senior fellow at the Urban Institute’s Center for Nonprofits and Philanthropy, told CNBC’s “Make From Scratch.” “If he is to deliver on his promise, he will almost certainly become one of the major philanthropists of the first half of the 21st century.”
However, he may have given away the huge sum in part due to mounting public pressure from his ex-wife Mackenzie Scott following her divorce from the 58-year-old billionaire. Lots of very public philanthropy.
Mackenzie Scott
In just two years since Scott took control of her fortune following the divorce, she has given away more than $12 billion of her $27 billion net worth.
In her first Medium blog post, she wrote: “Last year, I pledged to give back the majority of my wealth to the societies that helped create it, and I will do it thoughtfully, quickly, and consistently until I until the safe is empty.” The post became part of a biannual series in which she announced her donations.
As news of her massive donation first came to light, Scott revealed in late March that she had donated an additional $3.9 billion since June 2021. In a Medium post, the world’s 22nd richest person lists the latest recipients, mostly overlooked people who live in the areas they support and have a first-hand understanding of the problems they hope to solve.
After the shock of the news of her massive donation faded, she made another big donation, announcing in a November Medium post that she had given 20 more donations to more than 300 organizations in the past seven months. One hundred million U.S. dollars.
A bombshell Bloomberg article exposed the use of donor-advised funds, or philanthropic investment accounts, which are used by the ultra-wealthy to park money for the tax benefits of giving to charities, Without actually having to donate the money to those in need. Scott was named one of the few philanthropists who spent their funds properly.
“Mackenzie Scott made headlines in part because of the way she did things,” Dyer said, noting that Scott stood out from her peers because she managed to quickly put her Funds go to those in need. “When she first said, ‘I’ve donated $1.6 billion,’ she walked through that door. Here’s a list of organizations that have accepted that donation,” Dyer said.
Gautam Adani
The world’s third-richest man, Gautam Adani, celebrated his 60th birthday in June by pledging 600 billion rupees ($7.7 billion) to a range of social causes and donating money to his father Chantilal Centenary tribute to Shantilal Adani.
India’s richest man has been criticized in the past for not giving more money to charity. The 2021 India Philanthropy Report by global consultancy Bain and Co. found that, on average, the ultra-rich in India with a net worth of more than Rs 5,000 crore gave away 0.5% of their wealth.
The donation immediately puts Adani in the ranks of Western philanthropists who have donated most of their fortunes.
The funds will be managed by the Adani Foundation and will be used for healthcare, education and skills development, with a particular focus on rural India.
Adani said in a statement in December: “Our experience in the planning and execution of large-scale projects, as well as the experience gained from the work done by the Adani Foundation, will help us accelerate the implementation of these projects in a unique way. Construction.” (Fortune Chinese Website)
Translator: Zhong Huiyan-Wang Fang
If the first year of the COVID-19 pandemic minted a record number of new billionaires, then 2022 was the year of the giant billionaire philanthropic donation.
All year, there has been a steady trickle of announcements from billionaires pledging to give away the independent pile of cash they have amassed to groups (often their own foundations) set up to fight the huge challenges the world is facing, from combating climate change to eradicating poverty.
“Giving a billion in a year puts you in pretty rare company,” Elizabeth Dale, an associate professor of nonprofit leadership at Seattle University, told Fortune, adding, “Anytime someone’s making an announcement of giving more than a billion dollars in a year, we know that they’re going to be one of the largest donors in a typical year.”
Here are the largest donations the world’s richest have made this year. This list is not exhaustive and only includes those who have donated north of $1 billion. It is notably missing Bernard Arnault and Elon Musk, who are the first and second richest people in the world at the time of publication.
Warren Buffett
At his annual summer party in June, Warren Buffett announced he had given away another $4 billion donation worth of shares in his conglomerate Berkshire Hathaway — the 17th time Buffett had made this annual gift. At the time of the announcement, the donation pushed Buffett’s to lifetime commitment to charity to $48 billion.
Buffett made a pledge in 2006 to donate 99% of his entire fortune to philanthropic foundations, making donations each year to the same five foundations: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, the NoVo Foundation, and the Bill and Melinda Gates foundation.
Beyond the Bill and Melinda Gates Foundation ¬— which Buffet once chaired and usually donates the largest sum to — the other four charities are run by his three children.
But his philanthropic donation didn’t end there for the year. In November, Buffett made another surprise $750 million donation in Berkshire Hathaway stock on Thanksgiving eve — the first time the 92-year-old has made a second major gift within the same year .
But unlike his usual annual donation, the Bill and Melinda Gates Foundation was noticeably missing from the roster of recipients. Buffett said the timing and the recipients of the second donation were no coincidence and it was his way of giving thanks to his children for their charitable work.
“I’ve got a personal pride in how my kids turned out,” Buffett told CNBC’s Becky Quick. “I feel good about the fact that they know I feel good about them. This is the ultimate endorsement in my kids, and it’s the The ultimate statement that my kids don’t want to be dynamically wealthy.”
Bill and Melinda Gates
Microsoft co-founder Bill Gates joined Buffett this year in planning to give away his entire fortune.
“As I look to the future, I plan to give virtually all of my wealth to the foundation,” Gates wrote in a tweet in July, when he announced he was donating another $20 billion to the Bill & Melinda Gates Foundation.
“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too,” Gates wrote in a tweet .
Gates and his ex-wife Melinda French Gates have already pledged more than $50 billion to the foundation since 1994. For Bill to achieve his lofty goal of giving away his entire fortune, it would mean another $116 billion going towards his charity, which fights disease and poverty around the world.
In a blog post published in July, Gates wrote that the Gates Foundation, which he founded with his wife in 2000, plans to boost its annual spending by 50% — to $9 billion by 2026, up from its current $6 billion.
“It is now clear that the need in all the areas where we work is greater than ever. The great crises of our time require all of us to do more,” Gates wrote, adding that the huge global setbacks ranging from the COVID-19 Pandemic to Russia’s invasion of Ukraine, shouldn’t discourage people from trying to make the world better. “Focusing on being part of the solution is better than giving up in despair,” he wrote.
But no goods deed goes unpunished. Gates and his foundation became a prominent target for coronavirus conspiracy theories, including false claims that link him to the coronavirus’ origins or suggest he planned to use the COVID vaccines to implant monitoring microchips in billions of You almost have to laugh because it’s so crazy,” Gates said in a BBC Interview in May.
Jeff Bezos
Another person to join the roster of the world’s richest people giving away their entire fortune was Amazon founder Jeff Bezos.
Bezos announced in November that he plans to give away the majority of his $122 billion fortune ¬¬¬¬— after years of criticism for his relative lack of philanthropy when compared with his billionaire peers. Bezos is noticeably missing from the list of signatories to the Giving Pledge, a campaign founded by Buffett and Gates which encourages the world’s wealthiest to give half their net worth to charity.
The world’s fourth richest person made his pledge after giving $100 million to the country singer Dolly Parton to give to charities of her choice as part of Bezos’s annual Courage and Civility award.
When making the announcement with his girlfriend Lauren Sanchez, Bezos said: “The hard part is figuring out how to do it in a levered way — it is not easy.
“Building Amazon was not easy. It took a lot of hard work and a bunch of very smart teams. Philanthropy is very similar. It is really hard and there are a bunch of ways you can do ineffective things, too.”
Bezos did not specify how he plans to divvy out his fortune nor did he provide any details of exactly which causes are likely to be his biggest focus.
“There’s still a lot we don’t know,” Benjamin Soskis, a senior research associate at the Urban Institute’s Center on Nonprofits and Philanthropy, told CNBC’s Make It program, adding: “If he is going to make good on his pledge, he is almost definitely going to be one of the major philanthropists of the first half of the 21st century.”
But part of the move to commit the huge sum may be in part of the growing public pressure to do so after the very public and prolific philanthropic efforts of his ex-wife MacKenzie Scott following her divorce from the 58-year-old billionaire.
MacKenzie Scott
Since taking control of her post-divorce fortune, Scott gave away more than $12 billion of her now $27 billion net worth in only two years.
In the first Medium blog post she published, in what would become a biannual series of essays announcing her donations, Scott wrote: “Last year I pledged to give the majority of my wealth back to the society that helped generate it, to do it thoughtfully , to get started soon, and to keep at it until the safe is empty.”
As the story of her huge donations first broke, Scott revealed in late March that she’d given away another $3.9 billion ¬since June 2021. In the Medium post, the world’s 22nd-richest person listed her latest recipients, which were mostly underrepresented who live in the regions they support and have personal knowledge of the issues they hope to address.
After the shock of her huge donation subsided, she did it again, announcing in a November Medium post that she had given another $2 billion to more than 300 organizations in the last seven months.
In an explosive Bloomberg article exposing the use of donor-advised funds, or charitable investment accounts, that are used by the ultra-wealthy to park their money to reap the tax benefits of donating to charity without actually having to give the money away to the needy, Scott was named as one of the few philanthropists who used the fund correctly.
“Part of why MacKenzie Scott has really made the headlines is kind of in the way she’s done it,” says Dale, noting that Scott stands out from her peers because of the speed in which she has managed to get her money to the people who need it. “When she made her first announcement like ‘I’ve given $1.6 billion’ that was out the door. You had a list of organizations that were receiving that money,” Dale says.
Gautam Adani
The world’s third richest man Gautam Adani made a pledge in June to donate 600 billion rupees ($7.7 billion) to a range of social causes to mark his 60th birthday and pay tribute to the birth centenary year of his father, Shantilal Adani.
India’s wealthiest people have been criticized in the past for not donating more to philanthropic causes. The India Philanthropy Report 2021 by global consultancy firm Bain and Co. found that on average, the country’s ultra-rich with a net worth of more than 500 billion rupees , had donated 0.5% of their wealth.
The donation instantly propelled Adani into the echelons of Western philanthropists who have given away significant portions of their wealth.
The funds, which will be managed by the Adani Foundation, will go to healthcare, education, and skills development, with a particular focus on India’s rural regions.
“Our experience in large project planning and execution and the learnings from the work done by the Adani Foundation will help us uniquely accelerate these programs,” Adani said in a statement in December.
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