World's most generous billionaires, millionaires in 2014
It's not only Saudi Prince Alwaleed or Al Ghurair who are giving away millions to charity
Dubai: This is indeed the season of giving, with two billionaires in the region, Emirati tycoon Abdullah Ahmad Al Ghurair and Saudi Prince Alwaleed Bin Talal pledging to give away their money for good causes.
The Saudi businessman announced this month he is donating his entire $32 billion fortune to charity over the coming years, while Ghurair from UAE pledged a third of his assets for the improvement of the quality of education among young Arabs.
But they’re not the only high-net-worth individuals who are giving away their fortunes for charitable endeavours. There are several other businessmen who have not only pledged, but actually distributed millions of dirhams to help those in need.
Philanthropy is common in the ultra-wealthy community. A typical rich businessman or investor, who has an average net worth of $240 million and an average liquidity of $46 million, gives away $25 million over the course of his or her lifetime, according to a study by Arton Capital and Wealth-X.
In 2014 alone, billionaire investor Warren Buffet turned over $2.1 billion to the Bill and Melinda Gates Foundation in the form of 16.6 million shares of his company, Berkshire Hathaway, according to Wealth-X in another report. That was the biggest donation last year.
Philanthropists from the United States dominated last year’s donations, although two property tycoons from Hong Kong, Ronnie and Gerald Chan, also appeared on the list, having given away $350 million to Harvard University in 2014.
Below are 10 high-net-worth individuals who gave the most donations to charity in 2014:
Rank
Name
Individual Or With Spouse
Net Worth
(US$ million)
Donated Amount*
(US$ million)
Donated Amount To Net Worth Ratio
Cause
1
Warren Buffett
Individual
66,900
2,100
3%
Bill and Melinda Gates Foundation
2
Nicholas Woodman
With spouse
4,400
497.5
10%
Silicon Valley Community Foundation
3
Ronnie Chan
Individual
1,500
175
10%
Harvard University
4
Gerald Chan
Individual
1,300
175
12%
Harvard University
5
Kenneth Griffin
Individual
5,500
150
3%
Harvard University
6
Gert Boyle
Individual
540
100
16%
Oregon Health & Science University
7
John Morgridge
With spouse
1,500
100
6%
University of Wisconsin-Madison
8
John “Jay” Jordan
Individual
290
75
21%
University of Notre Dame
9
Edward Meyer
With spouse
740
75
9%
Weill Cornell Medical College
10
Charles Munger
Individual
1,100
65
6%
University of California Santa Barbara
*Donated amounts only take into account donations that have already been made, and do not include pledged amounts.
