Michael Bloomberg, 83, topped the record of People who donated essentially the most cash to nonprofits final yr, in line with the Chronicle of Philanthropy’s Philanthropy 50 record for 2024. It was the second yr in a row that Bloomberg led the record.
Bloomberg gave $3.7 billion to charitable causes in 2024 in assist of the humanities, schooling, public well being teams, and metropolis authorities enchancment packages. He made his contributions instantly and thru his charitable group Bloomberg Philanthropies.
One sizable donation Bloomberg made was a $1 billion grant to Johns Hopkins College in July 2024 to cowl the price of medical college for college students.
“I’ve by no means understood individuals who wait till they die to offer away their wealth,” Bloomberg informed the Chronicle in an e-mail. “Why deny your self the satisfaction? I have been very fortunate, and I am decided to do what I can to open doorways for others and to depart a greater world for my youngsters and grandchildren.”
Michael Bloomberg. Photographer: Lionel Ng/Bloomberg through Getty Pictures
5 different particular person donors or {couples} joined Bloomberg in gifting away $1 billion or extra final yr. They have been: Netflix co-founder Reed Hastings and his spouse Patty Quillin (second on the record), Dell Applied sciences founder Michael Dell and his spouse Susan Dell (third), Warren Buffett (fourth), Meta CEO Mark Zuckerberg and his spouse Priscilla Chan (fifth), and retired pediatrics professor Ruth Gottesman (sixth).
The majority of the donations went to funds that supported causes like scientific analysis and schooling. Gottesman made a transfer just like Bloomberg’s by donating $1 billion to the Albert Einstein Faculty of Medication in Bronx, New York in February to make the medical college tuition-free as of August 2024.
Associated: Former Pediatrics Professor Donates $1 Billion, Makes Albert Einstein College of Medicine Tuition-Free
The highest 50 donors on the record gave a collective $16.2 billion for philanthropic causes in 2024. The median quantity they gave was $100 million.
Paychex founder Thomas Golisano was the eighth most beneficiant donor on the record, gifting away $500 million in 2024. Most of his donations, or about $400 million, have been no-strings-attached contributions to over 100 nonprofits in New York and Florida. One among his areas of focus is organizations that assist individuals with disabilities.
Former funding banker Okay. Lisa Yang (spouse of Broadcom CEO Hock E. Tan) was the thirty fourth donor on the record. She gave away $74.5 million this yr, largely to MIT and Cornell College. In February, Yang gave $35 million to Cornell Faculty of Veterinary Medication’s Wildlife Middle to assist wildlife conservation.
Enterprise capital investor Michele Kang (No. 28) donated $84 million in 2024, giving $4 million to the USA Ladies’s Rugby crew.
The Philanthropy 50 rating has been working for 25 years. In that span of time, Buffett has been the largest donor, gifting away $49.4 billion.
Invoice Gates and Melinda French Gates have been second total, giving $34 billion collectively, whereas Bloomberg, Jeff Bezos, and Elon Musk have been third, fourth, and fifth respectively in total charitable contributions.
Bezos dedicated $10 billion in 2021 to the Bezos Earth Fund to guard nature and combat local weather change whereas Musk has donated around $7 billion since 2020 to his group, The Musk Basis, which supports renewable vitality analysis and science and engineering schooling.
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