Wealth-X has been tracking philanthropic giving by the ultra wealthy for the best part of a decade. Our fourth report touches on society’s rising expectations of this group’s responsibilities, sizes the annual scale of philanthropic giving by the ultra wealthy by region, and explores the new ways in which the ultra wealthy are engaging with the world of philanthropy.
As the global UHNW population grows, there is an increasing expectation that philanthropy should be a shared passion among wealthy individuals. The New Normal: Trends in UHNW Giving 2019 is the fourth edition of Wealth-X’s report focused on UHNW giving trends, globally. We shine a spotlight on ultra high net worth (UHNW) donors, those individuals with a net worth in excess of $30m and a demonstrated commitment to philanthropy, examining the top causes to which they give and drawing out differences by region across source of wealth and gender.
The report estimates that in the U.S. alone, the ultra wealthy population accounts for between 20 and 30% of all individual giving, underscoring the great potential for nonprofit organizations to meet fundraising goals by engaging a relatively a small group of major donors.
Among numerous key findings, The New Normal: Trends in UHNW Giving 2019 reveals:
- The ultra wealthy gave a total of $153 billion towards philanthropic endeavors in 2018 – roughly equivalent to all U.S. federal government spending on healthcare, education and energy for the same year.
- At $75 billion, North America accounted for nearly half of all philanthropic gifts made by UHNW individuals, globally.
- Nearly 9 in every 10 UHNW individuals direct part of their philanthropic efforts to education, making it the leading cause of giving among ultra wealthy donors (those UHNW individuals who have donated a minimum of $50,000 over the last 5 years).
- Younger ultra wealthy donors take a more targeted approach to giving, with those under the age of 45 tending to be more passionate about one or two causes that they are both financially and practically involved with.
The manner in which the ultra wealthy engage with philanthropic causes is constantly evolving. In addition to providing unique insight into the global landscape of ultra wealthy donors, Wealth-X examines how the changing profile of philanthropists and more innovative forms of giving are creating new investment objectives, new financial products and new ways for the ultra wealthy to collaborate with not-for-profit organizations and the education sector.
Read more about best practices to engage major donors here
The New Normal: Trends in UHNW Giving 2019 leverages Wealth-X’s proprietary Philanthropic Giving Model, as well as the organization’s global database of records on wealthy individuals – the largest of data source of its kind in the world.
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For more information, please email us – contact@wealthx.com.