Closer Look at Data Belies ‘Surge’ in Giving by Rich

While giving by America’s biggest donors rose in 2013, the increase was dwarfed by the growth in billionaires’ assets, Businessweek writes.

The magazine draws on data from The Chronicle of Philanthropy’s Philanthropy 50 report on last year’s top donors, who gave a combined $7.7-billion, up 4 percent from 2012. Adjusted for inflation, giving by the most generous philanthropists has risen only slightly since 2003, while the combined wealth of the Forbes 400 more than doubled to $2-trillion in that time.

“[A] closer look at the numbers suggests there is not quite a ‘surge’ or ‘boom’ in the largest gifts,” Businessweek says, adding, “At a time when the richest Americans’ wealth is skyrocketing, it’s appropriate to ask whether their giving is skyrocketing as well.”