A new list highlights U.S. citizens who gave the most money in donations last year. (image credit:... [+]
The amount of money in donations given by the 50 most charitable U.S. citizens last year totals $5.6 billion. An impressive figure, at first glance, yet it’s a dip from the $7 billion given in 2015, and far below the $10.2 billion top donors parted with in 2014.
Why the drop? Several factors might be at play, such as the attention that the 2016 presidential siphoned from the top givers, and also the uncertainty those elections brought with them. The Chronicle also notes that the stock market performance in 2016 may have had an adverse effect on donations.
But the final collective tally doesn’t necessarily dampen the philanthropic spirit of this year’s most generous souls, which have been assembled on a list by The Chronicle of Philanthropy, a Washington D.C.-based news publication that has been covering the business of giving for more than 25 years.
We took the Top 10 of The Chronicle’s list of 50 biggest givers and folded them into a slideshow, complete with total donations and other data. Check it out below.
The most charitable name on the list, this year’s number one, was Nike co-founder Phil Knight and wife Penny. The duo parted with $900 million in charitable donations in 2016, the largest tranche going to the University of Oregon, Knight’s alma mater. FORBES pegs Knight’s net worth at $24.9 billion.
Second on the list is another billionaire of repute: former New York Mayor Michael Bloomberg, founder of the financial services and media firm, Bloomberg LP. Last year Bloomberg, who is valued at $45.2 billion, donated more than $600 million, says the Chronicle, with the biggest chunks of capital falling to organizations in the arts, education, environment, public-health groups, and programs aimed at improving city governments around the world.
In third place on the list we find Howard and Lottie Marcus, a married couple whose $400 million donation came in the form of a bequest following the December 2015 death of Lottie. The couple’s money went to American Associates, Ben-Gurion University of the Negev—a university in Beer-Sheva, Israel. It is thought to be the largest donation ever to an Israeli university.
Microsoft co-founder Paul Allen also made an appearance on this year’s list of most charitable people, parting with $295 million, which went to recipients in arts and culture, brain and cell science, climate change and ocean health, global health, Pacific Northwest groups, and wildlife conservation. FORBES estimates Allen’s net worth to be $19.2 billion.
Former hedge fund manager John Arnold and wife Laura appear fifth on the roster, having donated $284 million in total last year—$183 million of which went to their own foundation, which supports efforts in education, the justice system, science and other areas.
Other notable figures of business on The Chronicle’s list include Larry Ellison and Charles Munger. Ellison, a cofounder of Oracle, gave away nearly $271.5 million last year, most of which went to the University of Southern California. Munger, who is vice-chairman of Berkshire Hathaway, donated $200 million in 2016 to University of California at Santa Barbara. He is estimated to be worth $1.42 billion.
Bill and Melinda Gates also made the top 10 this year, giving $141.4 million to their own charity. The Gateses have given out $36.7 billion through their foundation since they launched it in 2000, and last year President Obama awarded the couple the Presidential Medal of Freedom. FORBES pegs Bill Gates’s net worth at $81 billion, making him the wealthiest person on Earth.
The Chronicle noted that only 22 people from the Forbes 400 list of the wealthiest Americans appear on this year’s Philanthropy 50. Also, of the 117 U.S. signers of the Giving Pledge, 21 appear on the list.
The Philanthropy 50 is based primarily on gifts and pledges of cash, land, and stock to nonprofit organizations. Public and quiet donations were taken into account, whenever possible. Some donors, however, are so private about their giving that it is impossible to tally their charitable gestures.
For more information on the methodology, visit The Chronicle of Philanthropy detailed explanation.
