Not Gates or Warren Buffett, but Indian industry’s doyen Jamsetji Tata has emerged because the biggest philanthropist globally within the last 100 years by donating $102 billion, as per an inventory of top-50 givers prepared by Hurun Report and EdelGive Foundation.
Tata, the founding father of what has now become a gaggle spanning interests from salt to software, is before others like Gates and his now-estranged wife Melinda who have donated $74.6 billion, Warren Buffet ( $37.4 billion), George Soros ($34.8 billion) and John D Rockefeller ($26.8 billion), the list showed.
“Whilst American and European philanthropists may have dominated the thinking of philanthropy over the last century, Jamsetji Tata, founding father of India’s Tata Group, is that the world’s biggest philanthropist,” Rupert Hoogewerf, the chairman and chief researcher at Hurun said during a statement.
Setting aside two-thirds of ownership to trusts engaged in doing good in various areas including education and healthcare has helped Tatas achieve the highest spot in giving, he said, adding that Jamsetji Tata’s giving started in 1892 itself.
The only other Indian on the list is Azim Premji of Wipro, who has virtually given his entire fortune of $22 billion for philanthropic causes.
Hoogewerf said there are a couple of names like Nobel which aren’t even within the list of top-50 givers of the last century, while some others aren’t a surprise.
A majority of 39 people on the list are from the US, followed by the united kingdom (5) and China (3). Total 37 of the donors are dead while only 13 of them are alive.
Three individuals added quite $50 billion during a single year, led by Elon Musk with $151 billion, on the rear of the increase of e-cars, whilst e-commerce billionaires Jeff Bezos of Amazon and Colin Huang of Pinduoduo added $50 billion each.
“At this rate, expect to ascertain fifty or more break through the $100 billion marks within subsequent five years,” Hoogewerf said.
The total donations by the 50 givers are pegged at $832 billion over the last century, of which $503 billion came from foundation endowments and $329 billion from donations so far.
The annual grants by them are now topping $30 billion, Hurun said, adding that with a donation of $8.5 billion, MacKenzie Scott is that the biggest annual grantmaker.
“Today’s billionaires aren’t maintaining with philanthropy, making money much faster than they’re giving it away,” Hoogewerf added.