Study: Super-Rich Give Away 10% of Fortunes on Average
October 6, 2014 | Read Time: 1 minute
The typical ultra-high-net-worth philanthropist donates $25-million over his or her lifetime, CNBC reports, citing a new study of high-end giving. That amounts to more than 10 percent of the average super-rich person’s fortune of $240-million, according to the Wealth-X and Arton Capital Philanthropy 2014 report.
The study found that the most affluent donors are increasingly turning from traditional gift-giving to “cutting-edge approaches” like microfinance and impact investing designed to have a long-term effect on the economic lives of the underprivileged, said Mykolas Rambus, chief executive of Wealth-X, which provides research on the ultra-rich. The trend is driven in part by concerns over rising income inequality, the report says.
Read The Chronicle of Philanthropy’s latest “How America Gives” report, which breaks down U.S. giving in 2013 by economic status, region, and other factors.
