People worth $30 million or more—equal to around 400,00 people total—account for 38% of individual donations in the world, according to a new report from global data firm Altrata, which also found that the world’s 3,200 billionaires are responsible for 8% of individual donations.
The overall donation levels from ultra-high-net-worth people increased 25% from 2018 to 2022, despite it being a sluggish year for financial markets. The wealthy in North America are the most likely to give individually, accounting for almost 50% of global giving. Nonprofits are having to adapt their strategies for accruing donations, targeting a smaller pool of those who already get a multitude of requests.
“A lot of nonprofits are pivoting to focus more on those major gifts and trying to figure out how to access wealthy donors and foundations,” said Amir Pasic, dean of the Indiana University Lilly Family School of Philanthropy.
Ultra-wealthy givers typically give through donor-advised funds and private foundations, which shows in the numbers—the assets held in private foundations has more than double since 2005, reaching $1.2 trillion. Nearly 1 in 5 ultra-high-net-worth people have a private foundation, as do 30% of those worth $100 million or more.
